Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
RIMS Benchmark Survey Reports Major Downturn in Commercial Rates
Oct 20 2005 // Commercial insurance premiums took a sharp downward turn in the third quarter, according to the RIMS Benchmark Survey, an industry survey of current policy renewal prices as reported by corporate risk managers. But some...
Hurricane-Related Insurance Claims Paid Top $1.2B in Miss.
Oct 19 2005 // Mississippi Commissioner of Insurance George Dale reported that insurance companies have paid out approximately $1,266,828,689 billion in claims related to hurricanes in Mississippi so far. Approximately 319,959 claims...
Fla. Insurance Industry Preps for Wilma
Oct 19 2005 // Hurricane Wilma, with a barometric pressure of 882 mb, is now the most intense hurricane on record in the Atlantic Basin. After rapid intensification Tuesday night, Wilma is now a potentially catastrophic Category 5...
A.M. Best: P/C Insurers Report Strong Gains for First Half of 2005
Oct 17 2005 // The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, according to...
Shush…All’s Quiet on the Privacy Front
Oct 17 2005 // It wasn’t very long ago that ChoicePoint was in the news because the confidentiality of its customer database had been breached. Since then, other firms including Bank of America, Time Warner and Lexis-Nexis have...
Gubernatorial Hopefuls in New York: Spitzer vs. Weld
Oct 17 2005 // Part 2: Spitzer Stresses Enforcement as Key to Fair Competition New York Attorney General Eliot Spitzer has made a name for himself exposing fraudulent and anti-competitive business practices in the securities, mutual fund...
Ex-California Commissioner Low Praises His Successor, Garamendi
Oct 17 2005 // Former California Insurance Commis-sioner Harry Low is singing the praises of John Garamendi, who is both Low’s successor and predecessor as overseer of the state’s insurance industry. In a way, Low’s...
Gubernatorial Hopefuls in New York: Spitzer vs. Weld
Oct 17 2005 // New York Attorney General Eliot Spitzer has made a name for himself exposing fraudulent and anti-competitive business practices in the securities, mutual fund and insurance industries. Now he is running for governor in New...
Editor’s Note:
Oct 17 2005 // It wasn’t very long ago that ChoicePoint was in the news because the confidentiality of its customer database had been breached. Since then, other firms including Bank of America, Time Warner and Lexis-Nexis have...
Natural Disasters Are Just Part of Commissioners’ Concerns
Oct 17 2005 // In addition to natural disasters, health care coverage, federal oversight, uniformity and fraud were among issues of concern to the insurance commissioners of three states who comprised the Commis-sioners’ Panel at...
Editor’s Note: Cracking the Cookie
Oct 17 2005 // Hurricane Katrina and Rita, then the Marsh indictments, oh my. Those subjects have made front page recently, and with good reason. No one could have foretold their outcomes, yet all will potentially affect how the...
Ex-California Commissioner Low Praises His Successor, Garamendi
Oct 17 2005 // Former California Insurance Commis-sioner Harry Low is singing the praises of John Garamendi, who is both Low’s successor and predecessor as overseer of the state’s insurance industry. In a way, Low’s...
Hurricane Katrina to Cost $40-$55 Billion for Privately Insured Losses
Oct 17 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. “Hurricane...
Surplus Lines Industry Discusses Life After the Storm
Oct 17 2005 // NAPSLO 2005 ANNUAL CONVENTION: With more than 3,200 people in attendance, the National Association of Professional Surplus Lines Offices’ annual convention convened in San Francisco, Calif., last month to address the...
Reputation, Regulation and Recruitment Focus of U.K. Conference
Oct 17 2005 // Pulling Together” was the overall theme of the United Kingdom’s Chartered Insurance Institute’s Annual Conference, which concluded Sept. 23 in London. However, the “Three Re’s” took an...
R&SA Acquires Chile’s Cruz del Sur
Oct 14 2005 // Royal & Sun Alliance Insurance Group PLC announced the acquisition of Chile’s leading general insurance business Compañia de Seguros Generales Cruz del Sur S.A. and its Argentinean sister company La...
S&P Finds ‘Positive Trends’ in European Insurance Market
Oct 11 2005 // Standard & Poor’s Ratings Services has published its quarterly analysis of the leading European insurers, entitled “Industry Report Card: European Insurance.” S&P found that positive trends in...
Tillinghast: Hurricane Katrina Will Cost Record-Setting $40-$55B for Privately Insured Losses
Oct 6 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. Hurricane Katrina:...
Aon: Private Insurance Market Will Fail Without Some Form of Public Backstop Against CAT Terror Losses
Oct 5 2005 // In anticipation of the Oct. 7, National Symposium on the Future of Terrorism Risk Insurance, Aon said Wednesday that the private insurance market cannot operate without some form of public backstop against catastrophic...
Miss. Attorney General Hood Accuses Carriers of Cheating
Oct 3 2005 // Five major insurance companies were recently sued by Mississippi Attorney General Jim Hood, who charged that insurance adjusters attempted to cheat Hurricane Katrina survivors out of millions of dollars in...
