Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Michigan Insurance Market at a Glance
Nov 2 2020 // The reform of Michigan’s auto insurance market, which went into effect on July 1, 2020, brought the promise of much-needed premium relief for Michigan drivers. An April 2019 study by the Insurance Research Council...
California Pledges to Protect Homeowners from Insurer Withdrawals Due to Wildfires
Nov 2 2020 // California’s insurance commissioner in late October pledged to step up efforts to protect the state’s residents from wildfires and address a pullback of private insurers from the state’s riskiest...
Agents’ E&O Under Pressure
Nov 2 2020 // The agency errors and omissions liability market has enjoyed stable market conditions for years. But that could be changing as agents and their insureds attempt to balance emerging risks in a changing insurance market. The...
It Would Take P/C Insurers 150 Years to Pay COVID-19 Business Interruption Losses
Oct 30 2020 // The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its...
Florida Property Insurance Market Inches Closer to Crisis – Part 2
Oct 30 2020 // The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by...
Florida Property Insurance Market Inches Closer to Crisis – Part 1
Oct 29 2020 // After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from...
How Much Insurance Groups Have Given to Trump, Biden and House, Senate Candidates
Oct 29 2020 // Democratic presidential candidate Joe Biden has received more funds from insurance industry political committees than President Donald Trump in this 2020 election cycle. Biden has received $5.5 million compared to...
Insurers Again Battled Many California Bills, but a Fight Last Year Was Biggest Recent Victory
Oct 28 2020 // The election is nearly here, and while it’s been quite a year all around, things could have been worse for the insurance industry. When the year started, insurance industry lobbyists were facing a big battle, and not...
Hanover Insurance Enters Maryland Personal Lines Insurance Market
Oct 27 2020 // The Hanover Insurance Group Inc. (THG) has expanded its business in Maryland to include personal lines insurance and appointed a group of independent agents in the state to serve its growing customer base. The Hanover has...
HDI Global Specialty Enters German Fine Art, High Net Worth Market with Hire from AXA
Oct 20 2020 // HDI Global Specialty SE is entering the German Fine Art and high net worth insurance market with the appointment of Dr. Alexander Wiebe from AXA. He joins the specialty lines insurer as head of Fine Art & Lifestyle...
CRC Group Sets New Leadership Roles for Brennan, Kessler As Helveston to Retire
Oct 19 2020 // National wholesaler insurance broker CRC Group announced changes to the company’s senior leadership team effective January 1, 2021. Ron Helveston currently CEO, Commercial Solutions, is retiring and will be succeeded...
Insurance Losses for April’s Queensland Hailstorms Estimated at A$604M: PERILS
Oct 19 2020 // The insurance industry’s loss footprint for the April 2020 Central Queensland hailstorms is estimated at A$604 million (US$423.2 million), according to PERILS, the independent Zurich-based organization that provides...
What P/C Insurance Industry Can Expect If Biden Wins or If Trump Is Re-Elected
Oct 19 2020 // If Republican President Donald Trump wins re-election, the property/casualty insurance industry is not likely to see much change from the status quo in Washington. If Democrat Joe Biden wins the presidency, however, the...
Celebrating 50 Years at the Helm of Insurance Journal
Oct 19 2020 // Entrepreneur, innovator, oenophile, insurance industry icon, all around great guy. That’s Mark Wells, the force behind Insurance Journal and Wells Media Group, who this year is celebrating his 50th anniversary in...
Should Upcoming California Commissioner’s Hearing on Wildfires Concern Insurers?
Oct 16 2020 // Insurance Commissioner Ricardo Lara will convene a “virtual investigatory hearing” on Monday to initiate a series of regulatory actions that will protect residents from the increasing risk of wildfires. Several...
INSTANDA Launches Cyber Insurance Product in Africa
Oct 16 2020 // INSTANDA, the customer and policy management platform for the insurance industry, has launched its first African insurance market product on its platform with newly onboarded client, Standard Bank South Africa. INSTANDA...
50 Years at the Helm of Insurance Journal
Oct 12 2020 // Entrepreneur, innovator, oenophile, insurance industry icon, all around great guy. That’s Mark Wells, the force behind Insurance Journal and Wells Media Group, who this year is celebrating his 50thanniversary in...
Lloyd’s Reviews Product Design of Insurance Contracts in Response to COVID-19
Oct 12 2020 // Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in response to the coronavirus pandemic, the commercial insurance market said on Monday. Insurers have...
Nigerian Insurance Market Faces Challenges to Realize Its Potential: AM Best
Oct 9 2020 // Nigeria’s insurance market has great potential given its position as Africa’s largest economy, its substantial oil and gas reserves and its young and growing population. Yet Nigeria’s insurance market has...
South Carolina Passes Flood Insurance Law to Boost Private Market
Oct 6 2020 // The state of South Carolina is aiming to foster new flood insurance coverage options through the enactment of the South Carolina Private Flood Insurance Act. South Carolina Gov. Henry McMaster signed the legislation,...
