Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Fitch: Katrina Causes Unprecedented Challenges, Risks for P/C Insurers
Oct 3 2005 // The circumstances surrounding Hurricane Katrina are unprecedented in many ways, reports Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance...
News Briefs
Oct 3 2005 // Roundup of Katrina Loss Estimates: As the scope of the devastation wrought by Hurricane Katrina became increasingly evident, European and Bermuda-based insurers and reinsurers continued to calculate their potential...
News Briefs
Oct 3 2005 // N.Y. AG Indicts Former Marsh Execs: New York Attorney General Eliot Spitzer and Insurance Superintendent Howard Mills announced the indictment of eight former executives of insurance brokerage giant Marsh Inc. for their...
Creation of a Federal Cat Fund Hits Mainstream
Oct 3 2005 // The devastation left by Hurricane Katrina stirred up familiar talk in the insurance industry and beyond about the need for a federal catastrophe risk program. And less than a month after Katrina, insurance regulators from...
Katrina, Asbestos, Soft Market Test Mettle of Today’s Bright CEOs
Oct 3 2005 // Industry pundits have praised today’s insurance chief executive officers as better informed and more disciplined than their peers of the past. The next few months may put that notion to the test as these leaders are...
ABI Calls on Government to Delay VAT Enforcement Ruling; Cost Estimated at $352 Million
Sep 30 2005 // The Association of British Insurers (ABI) has called on the Government to delay implementation of an EU court ruling that would impose value added taxes (VAT) on services outsourced beyond EU borders. The ABI estimates...
Fitch: Hurricane Rita Won’t Cause Widespread U.S. Insurance Company Rating Changes
Sep 26 2005 // Fitch Ratings said Monday it expects Hurricane Rita will represent a material loss to the insurance industry and will create further strain on insurers’ claims-adjusting resources. However, Fitch does not expect any...
Reputation, Regulation and Recruitment Focus of CII Conference
Sep 26 2005 // “Pulling Together” was the overall theme of the U.K.’s Chartered Insurance Institute’s Annual Conference, which concluded Friday, Sept. 23 in London. However, the “Three Re’s” took...
Best Report: Excess & Surplus 2005 – Premium Growth Decreases Amid Softening Market
Sep 26 2005 // In 2004, after growing significantly for three consecutive calendar years, direct premium volume for the surplus lines industry remained relatively flat, according to a special report released by A.M. Best Co. The...
RMS Model Shows Increased Risk of Extreme U.S. Terrorism Losses
Sep 22 2005 // According to Risk Management Solutions’ fourth annual U.S. Terrorism Risk Model, the risk of extreme terrorism-related events over the next five years, including terrorist attacks using chemical, biological,...
Report: After Katrina, What’s Next for the Insurance Industry?
Sep 21 2005 // In the near term, insurers are expected to raise rates and tighten terms, while public insurance programs will expand because of Hurricane Katrina, according to a new report published by Celent, “After Katrina: What...
ABI Sees Growing Consensus for Employers’ Liability Reform
Sep 20 2005 // The Association of British Insurers has issued a bulletin indicating that its calls for reform of the U.K.’s employers’ liability insurance market and the personal injury compensation system have been further...
Insurance Commissioners To Form National CAT Insurance Program
Sep 20 2005 // Insurance Commissioners of several large states will convene at a summit to develop a National Catastrophe Insurance Program. The summit is being organized by California Insurance Commissioner John Garamendi,...
An Open Letter to the Insurance Industry Seeking Assistance for Independent Agents Devastated from Hurricane Katrina
Sep 20 2005 // Independent insurance agents in Southeast Louisiana and South Mississippi face a daunting task as they play their part in rebuilding their shattered communities. They will need the help of the insurance companies whose...
By Donald J. Hurzeler
Sep 19 2005 // Making the Case for Diversity on the ‘Top Deck’ There is still room and a need at the top for improvement. The top deck-the board of directors and the senior leadership team-that is the level that has not yet...
Making the Case for Diversity on the ‘Top Deck’
Sep 19 2005 // The insurance industry has made great strides toward increasing diversity in the past decade. Although there is still room for improvement at the top, there are more doors open to Latins, people of color and women than...
Fitch: Katrina Causes Unprecedented Challenges/Risks for P/C Insurers
Sep 19 2005 // Circumstances surrounding Hurricane Katrina are unprecedented in many ways, said Fitch Ratings. So much so that the rating agency may need to reassess the core risk profile of the property/casualty insurance...
Team America
Sep 19 2005 // Hurricane Katrina is the largest natural disaster to strike this nation in more than a century. As the search for survivors and the delivery of aid continue, the task of understanding the scope of this tragedy has just...
Climate Change Poses Major Threat to U.S. Insurance Industry
Sep 19 2005 // Report Warns of Dire Consequences Unless Industry, Government Act Hurricane Katrina is a reminder that U.S. insurers, government and consumers are at great risk from escalating losses from hurricanes and other...
Indiana Targets Insurance for Economic Development
Sep 19 2005 // Former insurance industry advocate Mike Chrysler has recently been appointed as the Indiana Economic Development Corporation’s (IEDC) Director of Insurance Initiatives. Chrysler, an Indiana native and former...
