Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Bogardus Named 2006 IMCA Golden Torch Award Recipient
Jun 28 2006 // In recognition of his lifelong contributions to the insurance industry, the Insurance Marketing Communications Association (www.imcanet.com) awarded its Golden Torch Award to John A. (Jack) Bogardus, Jr. Bogardus, former...
U.S. P/C Industry Posts Record 1Q Profits; Net Gain on Underwriting Rises Nearly 21%
Jun 28 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio — a key...
Ind. Economic Development Corp. Rolls Out Funded Training Program
Jun 23 2006 // The Indiana Economic Development Corporation (IEDC) today announced the roll-out of a new incentive aimed at encouraging growth in the insurance industry by establishing a $2 million fund to help companies defray the costs...
Insurance Industry Pay Increases Running Slightly Above Others
Jun 23 2006 // Pay increases for most salaried workers will average only 3.5 percent this year and stay at that level through 2007, The Conference Board reports. Pay increases in insurance were slightly higher than projected; diversified...
Federal Insurance Antitrust Exemption: Insurer, Consumer Friend or Foe?
Jun 22 2006 // Congress opened a fresh debate on the insurance industry’s exemption from federal antitrust laws this week, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory...
Things that should keep you awake at night
Jun 19 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...
Lloyd’s forecast for Northeast: Storms, global warming threats are real
Jun 19 2006 // The prospect of another nasty hurricane season has everyone in the insurance industry braced for a white-knuckle ride. The spectre of a hurricane hitting a major Northeast population center is hardly the stuff of Hollywood...
Keeping tabs on transparency
Jun 19 2006 // “In life there are lines that shouldn’t be crossed — but when they are, great drama is born.” Quoting from the “Desire Under the Elms” playbill at the Lesher Regional Center for the Arts...
Legal and effective incentive compensation still under fire
Jun 19 2006 // There is a critical need to preserve the right of insurance companies to determine how best to compensate the insurance agents and brokers who sell their products. In this regard, the insurance industry is like virtually...
Editor’s Note: Florida PIP, no-fault, rescue only temporary until 2007
Jun 19 2006 // The insurance industry was on pins-and-needles in early May when the Florida Legislature passed SB 2114 and extended when the state’s no-fault auto insurance law would sunset—but then the bill went onto the...
By William G. Stiglitz
Jun 19 2006 // Legal and effective incentive compensation still under fire There is a critical need to preserve the right of insurance companies to determine how best to compensate the insurance agents and brokers who sell their...
Florida’s home insurance market: domiciled insurers persist
Jun 19 2006 // At the outset of 2006, the 21 Florida-domiciled insurers rated A or better by Demotech Inc., had an 18 percent share of the voluntary market. Their total 2005 writings were $977 million. Over a dozen have begun writing...
News Currents
Jun 19 2006 // Showing the money: Insurance industry ranks high in political giving Insurers and associations give to Republicans, Democrats and Independents in state-level politics In the 2004 election cycle, the insurance industry was...
Things that should keep you awake at night
Jun 19 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...
IAG Acquires New Lloyd’s MA – Specialist Asian Insurer
Jun 15 2006 // Insurance Australia Group Limited (IAG) announced that it has acquired a newly-formed Lloyd’s managing agency and specialist Asian syndicate, Alba Group Pte Limited, to “support the development and management...
Insurance Limbo Delays Gulf Coast Rebuilding
Jun 13 2006 // The owners of the sagging, flood-stained home in New Orleans aren’t in. Above the front door, a banner explains their absence, and the lack of progress: “Allstate paid $10,113.34 on this house for storm...
N.H. Gov. Lynch to Sign Premium Tax Cut Legislation
Jun 12 2006 // New Hampshire Gov. John Lynch is “inclined” to sign a measure cutting the state’s insurance premium tax in half, according to his communications director. Pamela Walsh told Insurance Journal the governor...
Lieutenant Governor to Return $150,000 from Insurance Industry
Jun 5 2006 // Lt. Gov. Cruz Bustamante, a Democratic candidate for state insurance commissioner, said he would return $150,000 in campaign donations from insurance companies. The decision will cut deeply into Bustamante’s campaign...
California Commissioner says insurers earning ‘excess profits’
Jun 5 2006 // California Insurance Commissioner John Garamendi has released a new report, “Lower Claims, Higher Profits: Where Do Your Premium Dollars Go?” on the profitability of homeowners and private passenger automobile...
Legal and effective incentive compensation still under fire
Jun 5 2006 // There is a critical need to preserve the right of insurance companies to determine how best to compensate the insurance agents and brokers who sell their products. In this regard, the insurance industry is like virtually...
