Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Travel Wallets Expand as Americans Spend More than $1 Billion a Year on Trip Insurance
May 25 2005 // The first ever Travel Insurance Market Survey, conducted on behalf of the U.S. Travel Insurance Association (UStiA), revealed that Americans spent more than $1 billion on travel insurance last year. According to the...
R&M Reports on FSA Regulation
May 24 2005 // Dublin-based Research and Markets announced the addition of “FSA Regulation — A Summary of Insurance Distribution” to their offering.” The report examines the distribution of general insurance...
S&P Report: Negative Outlook on Swiss Insurance Market Continues
May 24 2005 // Standard & Poor’s Ratings Services said in a recently published report that it has maintained its negative outlook on the Swiss insurance sector for both property/casualty and life. The report, “Swiss...
Garamendi Accuses Insurance Industry of Racial Discrimination
May 23 2005 // Two associations have responded to Commissioner John Garamendi’s recent accusations that the insurance industry’s rating practices are “blatantly discriminatory” and based on ethnicity....
JLT Warns Brokers and Underwriters to Invest in Client Industry Expertise and Technical Resources
May 23 2005 // Mike Hammond, the CEO of Jardine Lloyd Thompson Risk Solutions Ltd., told delegates at a conference in Lugano, Switzerland, that the “insurance industry must invest in the necessary technical skills if it is to...
PIFC: California Commissioner’s Proposed Homeowner Regs Flawed
May 23 2005 // There is not one statute in the entire Insurance Code of California that authorizes the insurance commissioner to adopt a proposed set of homeowners’ insurance regulations submitted to the Office of Administrative...
Excess Capital: Too Much of a Good Thing?
May 23 2005 // As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it–if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults....
Nearly Half of Large, Mid-sized Businesses Purchased Terrorism Insurance in 2004
May 23 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Meanwhile, the cost of property terrorism...
Is it Time to Sell the Agency? Three Factors to Help You Decide ….
May 23 2005 // Many owners have at one time or another thought about selling their insurance agency or brokerage. Many were tempted but never quite took the plunge. Those who didn’t sell most likely were making too much money at...
FBI Targets Insurance in Probe of Carrier, Agent and PEO Practices
May 23 2005 // The insurance industry, already under scrutiny in some segments by state and federal authorities for various compensation, reinsurance, bid-rigging and accounting practices, now faces another questioner. The Federal Bureau...
CPCU Society Looking at IMSA-Type Body
May 23 2005 // The property/casualty insurance industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid-rigging and contingent commissions. A...
People
May 23 2005 // Atlanta-based NBIS appointed Joseph Savarese as senior vice president of underwriting. He will focus on the company’s eastern and western U.S. presence, working to establish a network of insurance agents and brokers...
Oklahoma’s Holland Sets High Standards for Insurance Department
May 23 2005 // Commissioner views agency as a resource for industry and consumers. Oklahoma Insurance Commissioner Kim Holland has been at her current job less than six months, but new to the insurance industry she’s not. A former...
Garamendi Accuses Insurance Industry of Racial Discrimination
May 23 2005 // Two associations have responded to Commissioner John Garamendi’s recent accusations that the insurance industry’s rating practices are “blatantly discriminatory” and based on ethnicity....
By Walter B. Sherman
May 23 2005 // Is it Time to Sell the Agency? Three Factors to Help You Decide …. Many owners have at one time or another thought about selling their insurance agency or brokerage. Many were tempted but never quite took the plunge....
Excess Capital: Too Much of a Good Thing?
May 23 2005 // As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it-if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults....
CPCU Society Looking at IMSA-Type Body
May 23 2005 // The property/casualty insurance industry’s leading educational society is weighing what role to play in helping the industry restore its image after months of charges about bid-rigging and contingent commissions. A...
A Talk with New York Superintendent of Insurance Howard Mills
May 23 2005 // Pataki’s appointee brings Albany background to Spitzer-era regulatory challenges I think I’m a pretty quick study,” Howard Mills told Insurance Journal. He’s not had much choice. The former...
News Briefs
May 23 2005 // GEORGIA Licensing System Changes The Georgia Insurance Comm-ission held “Ind-ustry Day Meet-ings” across the state in May to discuss recent changes to the licensing system. In an effort to be responsive to...
People
May 23 2005 // NBIS appointed Joseph Savarese senior vice president of underwriting. He will focus on the company’s Eastern and Western U.S. presence working to establish a network of insurance agents and brokers in the contractors...
