Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
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...
Picking Up the Pieces
Oct 3 2005 // Although Hurricanes Katrina and Rita are behind us, hurricane season continues through the end of November. And while it does, residents on the Gulf and Atlantic Coasts are picking up the pieces and rebuilding their lives,...
Hurricane Rita Losses Not as High as Previous Storms
Oct 3 2005 // But destruction will add to totals from Dennis, Katrina and Ophelia. While indications are that damages from Hurricane Rita won’t come close to equaling those of its immediate predecessor, Hurricane Katrina, that...
Up and Running Again
Oct 3 2005 // Although Hurricanes Katrina and Rita are behind us, hurricane season continues through the end of November. And while it does, residents on the Gulf and Atlantic Coasts are picking up the pieces and rebuilding their lives,...
New Report Warns of Rising Threat to US Insurers from Climate Change
Oct 3 2005 // Higher premiums, coverage restrictions already hitting many parts of country Hurricane Katrina is a poignant reminder that U.S. insurers, government and consumers are at enormous risk from escalating losses from hurricanes...
Miss. Attorney General Hood
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...
Hurricane Rita Losses Not as High as Previous Storms
Oct 3 2005 // But destruction will add to totals from Dennis, Katrina and Ophelia. While indications are that damages from Hurricane Rita won’t come close to equaling those of its immediate predecessor, Hurricane Katrina, that...
Editor’s Note: Picking Up the Pieces
Oct 3 2005 // Although Hurricanes Katrina and Rita are behind us, hurricane season continues through the end of November. And while it does, residents on the Gulf and Atlantic Coasts are picking up the pieces and rebuilding their lives,...
Editor’s Note: Up and Running Again
Oct 3 2005 // A new report by Celent examines the immediate- and long-term effects of Hurricane Katrina on the insurance industry. The report noted that, in the near term, insurers will raise rates and tighten terms, and public...
New Report Warns of Rising Threat to US Insurers from Climate Change
Oct 3 2005 // Higher premiums, coverage restrictions already hitting many parts of country. Hurricane Katrina is a poignant reminder that U.S. insurers, government and consumers are at enormous risk from escalating losses from...
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...
