Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Chubb Unveils Public-Private Program for Pandemic Business Interruption
Jul 9 2020 // Chubb unveiled a proposal for the insurance industry and federal government to partner on covering future pandemic-related business interruptions—and to get money to small businesses quickly—following through on an...
Coronavirus Business Interruption Claimants Lay Out Federal Plan to Reimburse Insurers
Jul 9 2020 // A U.S. lawmaker has introduced a bill that would allow insurers to voluntarily pay certain COVID-related business interruption claims and get reimbursed by the federal government, but insurance groups have rejected the...
Insurance Costs Rising for Cannabis Firms as Unhappy Investors File Slew of Lawsuits
Jul 8 2020 // Canadian and U.S. cannabis companies are facing a spike in already high costs of insurance to protect top executives from personal liability, following a slew of lawsuits by disgruntled investors alleging fraud and...
Insured Losses for 2019/2020 Australia Bushfires Estimated at A$1.9B (US$1.3B): PERILS
Jul 7 2020 // The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide...
State Judge Rejects Michigan Restaurants’ COVID-19 Business Interruption Claim
Jul 7 2020 // A trial court judge in Lansing, Michigan handed a victory to insurers in what may be the nation’s first final ruling on the question of whether a property insurer is liable for financial damages caused by a...
101 Ways Coronavirus Crisis Has Changed P/C Insurance Pros’ View of Their Job. Or Not.
Jul 7 2020 // Has the coronavirus experience changed how property/casualty insurance professionals view their jobs? Yes and no. The biggest change is that many in the industry learned they can do their job from home, and most, although...
Nored to Lead New Texas Health Insurance Market Monitoring Team
Jul 6 2020 // A new team at the Texas Department of Insurance has been established to identify and quickly resolve issues involving health insurers in the state. Michael Nored, previously special counsel to the commissioner, was tapped...
American Companies Facing Pressure to Reveal Data on Diversity of Employees
Jul 6 2020 // American companies are coming under increasing pressure from investors to publicly disclose information about diversity among employees in the wake of nationwide protests against racial discrimination. Many executives have...
How to Prepare for the Next ‘Black-Swan’ Event? Lloyd’s Has Some Suggestions.
Jul 2 2020 // Lloyd’s of London is proposing solutions that could provide customers with greater protection against a future wave of the COVID-19 virus or future systemic – “black swan” – catastrophes, such as...
Exclusive Coronavirus Survey: P/C Insurance Return to ‘Normal’ Office May Take Time
Jul 1 2020 // Many property/casualty insurance professionals, most of whom have been working at home during the pandemic, may need some convincing not only to return to an office anytime soon but also to engage in typical business...
Austin’s AgencyKPI Secures $5M in Funding from Insurance Industry
Jun 30 2020 // AgencyKPI, which has developed a business intelligence platform designed to address and manage the abundance of data produced by multiple software programs and legacy systems across the insurance industry, has closed on $5...
Municipal Bond Insurance Industry Busier Than Ever After Decade-Long Slump
Jun 26 2020 // As the coronavirus pandemic rips through the finances of state and local governments, municipal-bond insurers are busier than they’ve been in years. Since early May, about 10% of new bond sales have been offered with...
Washington D.C.’s Incapsulate Hires Siegel to Insurance Industry Team
Jun 25 2020 // Incapsulate has hired insurance veteran Stephen Siegel to its insurance industry team. For more than 25 years, Siegel has worked with companies in all segments of insurance including life, property and casualty, group,...
Cannabis Broker Spotlight: Boden With Crouse Went All-in on the Budding Industry
Jun 25 2020 // Editor’s note: This part of a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a few tips...
Exclusive: How P/C Insurance Pros Are Faring Working From Home During Pandemic
Jun 25 2020 // According to Dorothy in the Wizard of Oz, there’s no place like home. For many in the property/casualty insurance industry, home is where their job has been during the pandemic. While millions of people in other...
Some Facts About London’s Role in Insuring the Slave Trade
Jun 19 2020 // London is facing up to its role in insuring the slave trade as part of a sweeping global reassessment of history and racism. This reappraisal was triggered by the death of George Floyd, a black man who died after a...
Backers of Controversial California Homeowners Insurance Bill Like Its Momentum, Timing
Jun 17 2020 // Backers of a controversial bill in California, which they say is designed to increase insurance coverage in high-risk wildfire areas by amending Proposition 103, believe it has the right timing and plenty of momentum to go...
Vermont Governor Signs New Captive Insurance Industry Legislation
Jun 16 2020 // Vermont Governor Phil Scott has signed new legislation that aims to strengthen Vermont’s captive insurance laws, increase efficiencies and add flexibility to regulatory policy and procedures. “COVID-19 has...
Charles Taylor Taps Former AXA Executive Brown as Group CEO
Jun 16 2020 // Charles Taylor, the London-based provider of services and technology solutions to the global insurance market, has appointed Rob Brown as group chief executive officer. With more than three decades of industry experience,...
Autonomous Car Makers at Odds With Insurance Industry Study Claiming Low Estimate of Crashes
Jun 15 2020 // Companies working on self-driving vehicles have criticized an insurance industry study suggesting that only a third of all U.S. road crashes could be prevented by driverless cars, arguing that the study has underestimated...
