Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
News Briefs
May 23 2005 // JURY REACHES PARTIAL VERDICT IN EXECUTIVE LIFE CASE: A jury reached a partial verdict in the case involving the illegal takeover of failed insurer Executive Life Insurance Company on May 9, according to the Associated...
News Briefs
May 23 2005 // MICHIGAN Commissioner Appeals Credit Scoring Decision The state of Michigan has filed an appeal of a judge’s ruling that allowed insurance companies to continue using customers’ credit scores to determine their...
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....
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...
May 23 2005 // Nearly Half of Large, Mid-sized Businesses Purchased Terrorism Insurance in 2004 Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from...
May 23 2005 // Nearly Half of Large, Mid-sized Businesses Purchased Terrorism Insurance in 2004 Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from...
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...
Aon Secures First Agricultural Reinsurance Contract in China
May 20 2005 // Aon Re China Limited, a unit of Aon Corp., has secured 100 percent placement of the first agricultural reinsurance contract in China. The contract was awarded by the Shanghai Anxin Agricultural Insurance Co. Ltd. (AAIC),...
Overcoming Legacy Systems, Business Innovation, Orlando Conference Topics
May 16 2005 // Overcoming the challenge of legacy systems and enabling business innovation in the insurance industry will be key subjects discussed by Harlosh, an insurance technology solutions provider, during a presentation on the...
Hawaii: Legislature to Study NCOIL P/C Modernization Act
May 16 2005 // “Hawaii’s legislative decision to conduct a study of the NCOIL Property/Casualty Insurance Modernization Act suggests that the state legislature is committed to making strides toward rate modernization, which...
AIA: Massachusetts Drivers Need a Competitive Auto Insurance Market
May 16 2005 // An auto insurance market where companies can compete on the prices charged and the products provided would benefit Massachusetts drivers, according to the American Insurance Association (AIA). AIA testified Monday at the...
PCI’s Csiszar Accuses Spitzer of ‘Corporate Terrorism’ and of Ignoring Own Conflicts
May 12 2005 // New York Attorney General Eliot Spitzer has bypassed due process and used McCarthy-like tactics to wage “corporate terrorism” against the insurance industry even while ignoring his own alleged conflicts of...
Mixed Signals on Compensation and Conflicts of Interest
May 9 2005 // RIMS Annual Meeting The risk management community and some of the world’s largest insurance brokers sent mixed signals on the future of contingent commissions for insurance brokers and other potential areas of...
Big Deal
May 9 2005 // There were four people waiting in front of us in the taxi line at Philadelphia Airport but the concierge waved us ahead of them. They were waiting for a van instead of a regular cab so that they could ride as a group, he...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage
May 9 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. Businesses in Boston and Washington, D.C. led...
FBI Targets Insurers in Widening Fraud Probe; Industry Responds
May 5 2005 // The insurance industry, already under scrutiny by state and federal authorities for various practices, now faces another questioner. The Federal Bureau of Investigation has launched a probe of the insurance industry that...
Australian Regulator Seeks Closer Scrutiny Over Insurers
May 3 2005 // The Australian Prudential Regulation Authority (APRA), which regulates the country’s insurance industry, is proposing tighter reporting requirements in order to enable the regulator to more closely scrutinize the...
AAMGA Ethics Workshop Topic: Insurance Industry Pressures
May 2 2005 // “Ethics in the Wholesale Insurance Marketplace” workshops concluded on Saturday afternoon with a round-table discussion, led by Ernest Csiszar, president of the Property and Casualty Insurance Association of...
Sponsor Pulls Bill Mandating California Insurer Community Investments
May 2 2005 // The sponsor of a California bill that would mandate insurer community development investments, withdrew the bill from consideration by this legislative session. Assembly Member Mark Ridley-Thomas, will not pursue AB 925...
JLT Says Weak Dollar, No PSA’s, Soft Market May Impact 2005 Results
Apr 29 2005 // Jardine Lloyd Thompson Group PLC, the largest U.K.-based broker, issued a statement in conjunction with is annual general meeting (AGM) warning that the weak US dollar, the absence of PSA’s and a continued softening...
