Latest Market Headlines

Despite Hurricane Losses, Soft Insurance Market Continues

May 9 2006 // Although property & general liability insurance rates increased in the first quarter of 2006, all indications point to a continuing soft commercial insurance market according to the Risk and Insurance Management...

California Commissioner Claims Insurance Industry Attempted Blackmail to Derail Auto Rate Regulations

May 9 2006 // California Insurance Commissioner John Garamendi is claiming that he has unveiled an attack campaign by the insurance industry against his efforts to reward good drivers and create a fairer system for the pricing of auto...

Agents Learn U.S. Insurers Withstood Record Catastrophe Losses with Strong Capitalization, Sound Risk Management

May 9 2006 // Strong capitalization, sound risk management and efficient global risk sharing enabled the U.S. property/casualty insurance industry to withstand record-setting catastrophe losses in 2005, but the industry also should keep...

Checking-in on hospitality coverage

May 8 2006 // As an agent or broker serving the hospitality market, you’ve enjoyed many coverage options at lower premiums in the last few years. In fact, you’re probably still delivering good news to your clients about...

N.Y. Supt. Mills Urges Tax-Deferred Catastrophe Reserves for Insurers

May 4 2006 // The country may not need a natural catastrophe backup fund like it has for terrorism exposures, provided government allows insurers to create catastrophe reserves on a tax-deferred basis, according to New York’...

Insurance Industry Charitable Foundation Hosts Networking, Educational Program

May 3 2006 // The Insurance Industry Charitable Foundation based in Walnut Creek, Calif., will present a networking and educational program on Thursday, May 11 at the Richard Nixon Library in Yorba Linda, Calif. Reception begins at 4...

California Legislation Aims to Assure Competitive Reinsurance Market

Apr 26 2006 // California’s Assembly Insurance Committee will be hearing a bill today co-sponsored by the Association of California Insurance Companies (ACIC) that is designed to assure a competitive reinsurance market in the...

Insurance Industry Charitable Foundation Hosts Networking and Educational Program/Benefit

Apr 20 2006 // The Insurance Industry Charitable Foundation based in Walnut Creek, Calif., will present a networking and educational program on Thursday, May 11 at the Richard Nixon Library in Yorba Linda, Calif., with the proceeds...

Sound Risk Management, Strong Investment Results Prove Positive for P/C Industry

Apr 18 2006 // U.S. property/casualty insurers managed to increase earnings and add to their capital base in 2005 despite record catastrophe losses, according to ISO and the Property Casualty Insurers Association of America (PCI). Sound...

China Launches Nationwide Insurance Overhaul to Promote Growth

Apr 17 2006 // The China Insurance Regulatory Commission (CIRC) said it will begin thorough investigations into the country’s insurance companies this month to promote the healthy growth of the fledgling insurance market. The...

Jobs and more on the line in R.I. as Beacon Mutual-Carcieri political saga enters critical period

Apr 17 2006 // Executives at Rhode Island’s largest workers compensation carrier, Beacon Mutual Insurance Co., figure they could be looking for new jobs as early as June if Governor Donald Carcieri gets his way. They expect that if...

Editor’s Note: Mississippi in perspective

Apr 17 2006 // The insurance industry will be faced with irate policyholders and on-going court costs-the insurance companies involved, however, have deep pockets and aren’t about to back down without a fight. After the federal...

Closer Look: Insurance Associations

Apr 17 2006 // Editor’s note: This is the second article in a series on Western insurance associations. Part I of this article appeared in the April 3, 2006, western region publication beginning on page 47. As people migrate to the...

Apr 17 2006 // In the past, the agencies each used proprietary formulas to create their own scores, meaning that a lender dealing with a consumer’s application for a credit card or a mortgage might have had to reconcile three...

Fla. Group Applauds Spring Legislative Proposals

Apr 14 2006 // With Spring meetings of the Florida Legislature coming to an end in Tallahassee in May, the Florida Insurance Council has applauded House and Senate leaders for proposals supporters believe will help entice capital into...

Summation of Insurance-Related Bills Speeding Through Fla. Legislature

Apr 14 2006 // With Spring meetings of the Florida Legislature coming to an end in Tallahassee in May, the Florida Insurance Council has summarized insurance-related bills now being considered in the House and Senate. Sam Miller,...

Insurance Industry on Solid Financial Footing, But Overall Results Mask Problems in Certain Lines, Locations

Apr 10 2006 // The property/casualty insurance industry will report an increase in its capital base and an overall profitable performance in 2005, enabling it to meet the insurance needs of the growing U.S. economy, according to...

Malaysia Embarks on 5-Year Plan to Liberalize Insurance Market

Apr 5 2006 // Malaysia to liberalize banking, insurance under five-year plan Received by Newsfinder from AP Mar 31, 2006 5:40 Eastern Time Malaysia will open its banking and insurance sectors to greater competition, including allowing...

Senators Introduce Optional Federal Charter Legislation

Apr 5 2006 // Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators today unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation...

Insurers Well-Braced for Next Big California Earthquake

Apr 3 2006 // When the next big earthquake strikes California, it’s unlikely to hurt the insurance industry as much as the last one did. The nation’s largest property insurers curtailed their exposure to California quakes a...