Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
N.Y. Bill Seeks Fiduciary Duty on Producers, Permits Profit Sharing with Disclosure
Mar 2 2005 // Assemblyman Ryan Scott Karben (D/I-Rockland), a majority member of the New York State Assembly’s Insurance Committee, has introduced a legislative package on agent and broker compensation that would require...
IBC Reports 2004 Financials for Auto, Home and Business Insurance Companies
Mar 1 2005 // Insurance Bureau of Canada (IBC) recently announced estimated 2004 financial results for Canada’s home, auto and business insurance companies. Industry data indicate that in 2004, the industry’s 206 companies...
PIA of W. Va. EVP Describes Medical Liability Crisis; Hopes for Legislative Action
Feb 24 2005 // West Virginia’s medical liability insurance market is in a crisis and it has be fixed soon according to Gray Marion, Professional Independent Insurance Agents of West Virginia executive vice president. Marion...
Another Marsh Exec Pleads Guilty to Bid Rigging in Spitzer Probe
Feb 24 2005 // New York Attorney General Eliot Spitzer said today that a former senior executive of Marsh, Inc. has pleaded guilty to criminal charges in connection with an ongoing investigation of fraud and bid rigging in the insurance...
R.I. State Senate Bills Seek to Spur Competition in Health Insurance Market
Feb 22 2005 // Saying that a competitive insurance market is critical to making health insurance more affordable for Rhode Island consumers and businesses, Sen. Marc A. Cote has introduced a package of legislation aimed at attracting...
Commercial Insurance Posts Full Year in Soft Market, RIMS Survey Reveals
Feb 21 2005 // The commercial insurance industry experienced a full year of a soft market conditions in 2004, as the last months of the year represented the fourth consecutive quarter of declining prices, according to the RIMS Benchmark...
Is the Industry Repeating the Past – Yet Again’
Feb 21 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” Currently there’s a momentous shift underway in...
TRIA Renewal Remains Uncertain
Feb 21 2005 // Efforts to extend the federal terrorism insurance backstop, set to expire at the end of the year, face significant hurdles despite widespread belief among carriers that such a program is necessary to prevent massive market...
Accentuate the Positive
Feb 21 2005 // This month I attended several conferences, first, the Windstorm Insurance Network Conference in Tampa, at which several well-known and interesting experts were speaking, including Max Mayfield, the veteran director of the...
E&S Markets Medium, Softening Across the Board
Feb 21 2005 // Rising property prices and a healthy economy after the election year have encouraged competition for casualty business. Although account size is sometimes a factor in the directions prices move, E&S specialists say...
A Conversation with TSLA President Marshall Leicht
Feb 21 2005 // When Marshall Leicht was installed as president of the Texas Surplus Lines Association in November 2004 he reminded attendees at TSLA’s annual meeting of the many issues confronting surplus lines agents. Leicht, who...
Washington All Industry Day: Associations Discuss Broker Disclosure
Feb 21 2005 // Broker disclosure, medical malpractice reform and credit scoring dominated the discussions at the Washington All Insurance Industry Day at the Capital held Feb. 10. Over 170 independent agents gathered to learn about...
ProBuilders Enters N.E. Contractors’ Insurance Market
Feb 17 2005 // ProBuilders Specialty, a risk retention group managed by NationsBuilders Insurance Services, has entered a number of the New England states to offer contractors’ general liability coverage. The program will be...
ChoicePoint: ‘Insurance Industry Databases Were Not Compromised’
Feb 17 2005 // ChoicePoint’s Clue Auto, Clue Property and Current Carrier insurance industry databases were not in any way involved or compromised by the fraud ring that obtained data from other ChoicePoint databases of public...
PIA Legislative Day: Major Issues Discussed, Legislators Urge Agents ‘Become More Active’
Feb 15 2005 // Medicaid reform, changing term limits and ethics will be three major issues of concern to the Florida Legislature during upcoming meetings and through 2006 according to Ron Villela, Professional Insurance Agents of Florida...
Insurance Industry, Republicans See Big Win in Senate Bipartisan Approval of Class Action Reform
Feb 11 2005 // The U.S. Senate rejected what could have been damaging amendments and approved by a vote of 72-26 historic changes to the way class action lawsuits are handled. The vote almost assures enactment since the Senate measure,...
IICF Hosts First Annual Club100 Private Party Feb. 26
Feb 10 2005 // The Insurance Industry Charitable Foundation Inc. will be hosting it’s very first annual Southern California Club100 Private Party on Saturday, Feb. 26, at the Napa Rose inside Disney’s Grand Californian Hotel...
Tillinghast Study: Insurers Welcome ERM Globally, but it Remains a Work in Progress
Feb 8 2005 // Insurers around the globe are making progress – quickly in some areas – with using an integrated risk and capital management approach to drive business decisions, according to the third biennial survey of risk...
Commercial Insurance Posts Full Year in Soft Market, Reports RIMS Benchmark Survey
Feb 7 2005 // The commercial insurance industry experienced a full year of a soft market conditions in 2004, as the last months of the year represented the fourth consecutive quarter of declining prices, according to the RIMS Benchmark...
Foxes Watching the Hen-House
Feb 7 2005 // Four months before the hurricane season, storm clouds are forming due to insurance reform measures suggested by Sen. Ron Klein, D-Boca Raton. Klein told South Florida television stations and newspapers it’s essential...
