Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
R&M Issues Irish Insurance Report
Mar 24 2006 // Research and Markets has announced the addition of Irish IT Trends – Insurance Industry to their offering. The bulletin notes: “The insurance sector in Ireland is one sector heavily dependent on IT...
McQueary Henry Bowles Troy Partner Receives Excellence Awards
Mar 22 2006 // Privately owned insurance and risk management firm McQueary Henry Bowles Troy L.L.P., based in Dallas, announced that Patrick Arthur, partner, recently received two prestigious awards: MHBT 2005 Producer of the Year for...
Wind vs. flood Katrina lawsuit sent back to state court
Mar 20 2006 // The Mississippi lawsuit to force insurance companies to pay for damage caused by storm surge has been remanded back to the state’s Chancery Court of Hinds County. Since the state is seeking injunctive relief, the...
Multi-state class actions could infringe on state regulators
Mar 20 2006 // Allstate Insurance Co., the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America have joined forces requesting a review of a Court of Appeals decision involving a...
Legislators hear insurance industry’s resounding voice after the storm
Mar 20 2006 // Sound, up-to-date and successful building codes are essential for construction, but codes must also be enforced and continuously updated to effectively contribute to disaster mitigation, said Leonard C. Brevik, National...
SPECIAL REPORT: Surplus Lines
Mar 19 2006 // With the eyes of Congress turning to insurance reform, most commentators are focused on how change might affect the overall insurance industry and agents. But the often-overlooked surplus lines segment of the industry...
XL Re Life Enters the U.S. Life Reinsurance Market
Mar 17 2006 // XL Re Life has acquired Servus Life Insurance Company, expanding its U.S. life reinsurance market. Servus Life will be renamed XL Re Life America Inc. following state regulatory approvals. XL Re Life America Inc. will...
Insurance Educational Association Forecasts the Future
Mar 17 2006 // The Insurance Educational Association and Chartered Property Casualty Underwriters Society’s (CPCU) Mt. Diablo chapter will be hosting its 7th Annual Educational Forum, “Forecasting the Future,” on...
Best Affirms FSR of Hang Seng Insurance Co. Ltd.; Outlook is Stable
Mar 16 2006 // A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and assigned an issuer credit rating of “aa-” to Hang Seng Insurance Company Limited (Hang Seng Insurance) (Hong Kong). The outlook for...
Dale Reports Miss. Insurers Have Made Solid Progress
Mar 15 2006 // A report in Jackson, Miss. by Insurance Commissioner George Dale shows that six months after Hurricane Katrina struck a devastating blow to the Gulf Coast, major insurers have made solid progress and are committed to...
Cornerstone Appraisal Services and MSB Form Strategic Alliance
Mar 14 2006 // High value home inspection vendor joins forces with MSB Valparaiso, Indiana and Los Angeles – Cornerstone Appraisal Services (Cornerstone) and Marshall & Swift / Boeckh (MSB), an MDA company, are pleased to...
Miss. Wind vs. Flood Lawsuit Remanded Back to State Court
Mar 13 2006 // The Mississippi lawsuit to force insurance companies to honor their policies and pay for damage caused by storm surge has been remanded back to the Chancery Court of Hinds County. Since the state is seeking injunctive, the...
Multi-State Class Actions Could Infringe on State Regulators’ Authority, Interfere with Claims Adjudication
Mar 10 2006 // The National Association of Mutual Insurance Companies (NAMIC) has joined other members of the insurance industry in filing an Amici Curiae brief involving a multi-state class action appeal currently before the Washington...
Workers’ comp tug-of-war
Mar 6 2006 // A political tug-of war is now taking place in South Carolina involving Gov. Mark Sanford, Insurance Commissioner Elanor Kitzman, legislators and insurance industry representatives. The governor has responded that he...
U.K. Auto Market Going to the Internet
Mar 1 2006 // A new study from the Dublin-based consultants Research and Markets notes that the U.K.’s automobile (motor) owners are increasingly using the Internet when it comes to insuring their cars. “Buying insurance...
Americans for Insurance Reform Report Says Med-Mal ‘Crisis’ is Over
Mar 1 2006 // Americans for Insurance Reform (AIR) has released a new study confirming the wholesale decline of medical malpractice insurance rates nationwide. The AIR study also indicates that this phenomenon is occurring whether or...
Quanta Names Baker, Shapiro to Board
Feb 28 2006 // Bermuda-based Quanta Capital Holdings Ltd. announced the appointment of Roland C. Baker and Robert B. Shapiro to its Board of Directors and to its Audit Committee. Baker was also appointed to the Compensation Committee and...
N.Y. Homeowners Insurance Market: Strong or Weak?
Feb 28 2006 // New York’s homeowners insurance market is either strong, stable or fragile depending upon whether the speaker is an agent or an insurer. Also, Allstate Insurance Co.’s decision to limit its business in eight...
S&P: Insurer Reserving For Soft Market Years Remains Problematic
Feb 24 2006 // Confidence in the reserve adequacy of U.S. insurers increased modestly for accident years 2003 and 2004, according to Standard & Poor’s, but the rating agency said insurers’ ability to attain adequate...
Insurers Ready to Testify That N.Y. Homeowners Market is Healthy
Feb 23 2006 // The New York homeowners insurance market is stable, according to the Property Casualty Insurers Association of America. Kristina Baldwin, PCI’s regional manager, will testify to that effect Monday before a hearing of...
