Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Drawert Honored with ICT Award as Insurers Celebrate Improvements
Aug 22 2005 // Jim Drawert, vice president and chief underwriting officer for The Republic Group, was presented the Raymond Mauk Leadership Award at the Insurance Council of Texas’ 13th Annual Mid-Year Property and Casualty...
Claims History Model Act Now in Hands of State Legislators
Aug 22 2005 // Consumers who initiate a homeowners insurance claim but never receive payment could find that single incident may be used by their insurer to cancel their policy, or raise their premium, under a new claims history model...
Bare market for residential
Aug 22 2005 // As construction development in the United States reaches an all time peak, with overall spending up 7.5 percent in 2005 compared to 2004, agents and brokers writing contractor business are having a tough time locating...
Insurance Industry’s Share of Weather-Related Losses Rising, Researcher Says
Aug 22 2005 // The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as distinct from...
S&P Comments on Korean Insurance Industry Transparency Plan
Aug 18 2005 // Standard & Poor’s Ratings Services has given a definite maybe to a newly unveiled reform plan for Korea’s insurers. The rating agency called the plan “a good start towards enhancing the...
NAMIC Encourages Hawaii Legislative Working Group to Adopt Rate Modernization
Aug 16 2005 // The National Association of Mutual Insurance Companies has told a Hawaii legislative committee that passage of rate modernization laws would benefit state commerce and insurance consumers. In written comments filed last...
ITC Golf Tourney Set for Oct. 17
Aug 16 2005 // Insuring the Children has set the date of Oct. 17, 2005 for the Annual Golf Tournament. This year it will be held at the prestigious Santa Ana Country Club. For those golfers who haven’t played this course, this is a...
Citing Anti-Fraud Success, Mass. Auto Insurers Seek Small Rate Cut
Aug 12 2005 // Citing a drop in claims, the Automobile Insurers Bureau of Massachusetts filed its proposal for 2006 personal auto insurance rates with the Commissioner of Insurance Julianne Bowler on behalf of insurance companies. The...
Insurance Industry Share of Weather-Related Losses Rising, with 60% Tied to Small Events
Aug 11 2005 // The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as distinct from...
Allianz Cornhill CEO Warns Industry ‘Cannot Afford to Ignore Climate Change’
Aug 9 2005 // Andrew Torrance, CEO of Allianz Cornhill in the U.K., has explained why companies cannot afford to ignore the effects of climate change. As reported on the Allianz Group Website – www.allianz.com – Torrance...
Society of Insurance Research Agenda: Natural Catastrophes, Legislative, Political Issues
Aug 9 2005 // Insurance implications of natural catastrophes, key legislative and political issues confronting insurers and how emerging technologies will affect the insurance business, will be discussed during Oct. 16 to 19 Society of...
A.M. Best: Domestic Captives Industry Stable; Leverage Remains A Concern
Aug 9 2005 // Trends in premium volume, loss reserves and admitted assets show that the captive insurance industry has reached a level of stability as it absorbs the benefits of the recent hard market while coping with legacy issues...
ISO: P/C Industry Ends 26-Year Drought, Breaks Surplus Records
Aug 8 2005 // Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three...
New Missouri Commissioner Brings Agent Experience to the Job
Aug 8 2005 // How W. Dale Finke Was Selected a Matter of Controversy Dale Finke doesn’t see what all the fuss is about. When Missouri’s Republican Gov. Matt Blunt nominated Finke to be the state’s insurance director...
How to Plan an Insurance Industry Golf Event
Aug 8 2005 // The job description of property/casualty agents and brokers can on occasion include “golf event planner.” Typically insurance professionals turn to event experts, but sometimes budgets and time don’t...
New Missouri Commissioner Brings Agent Experience to the Job
Aug 8 2005 // Interviewed by Kevin B. O’Reilly Dale Finke doesn’t see what all the fuss is about. When Missouri’s Republican Gov. Matt Blunt nominated Finke to be the state’s insurance director back in February,...
ISO: P/C Industry Ends 26-Year Drought, Breaks Surplus Records
Aug 8 2005 // Ending a 26-year drought, insurers posted a $5 billion net profit on underwriting in 2004, despite slowing premium growth and a deluge of catastrophe losses. Powered by the best underwriting results in almost three...
AMEX Enters N.J. Auto Insurance Market Via Internet Sales
Aug 1 2005 // AMEX Assurance Company,of the American Express Property Casualty companies, is now writing insurance policies in New Jersey. AMEX is entering the New Jersey market exclusively through the Internet. Its web site is...
Catastrophic Recovery – Insurance for Insurance
Jul 28 2005 // “Given the opportunity, insurers can recognize a good insurance policy when they see one, especially when it is for their own protection.” Warner Robins, GA – In many instances, risk and liability, when...
Greater N.Y. Mutual CEO Makes Case for Terror Coverage; NAMIC Suggests Britain’s Pool Re as Model
Jul 27 2005 // Warren Heck, chairman and chief executive officer of Greater New York Mutual Insurance Company in New York, N.Y., brought his company’s front line experience with terrorism risk before a House Financial Services...
