Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Is it Time to Sell the Agency’ Three Factors to Help You Decide ….
Dec 6 2004 // 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...
Nonprofits’ Insurance Alliance of California Celebrates 15 Years
Dec 6 2004 // Nonprofits’ Insurance Alliance of California (NIAC), a nonprofit, charitable risk pool specializing in 501(c)(3) nonprofit organizations, recently celebrated its 15th anniversary. NIAC, based in Santa Cruz, Calif.,...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Dec 6 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
Pickens: Despite Media Images Good Things Are Happening in Iraq
Dec 6 2004 // In late October 2004, Insurance Journal had the opportunity to speak with Arkansas Insurance Commissioner and former president of the National Association of Insurance Commissioners Mike Pickens about the time he spent in...
Fla. Subpoenas Marsh & McLennan; Reviewing State Agencies’ Contracts
Dec 6 2004 // In an effort to obtain a better look at insurance contracts with state agencies and any impact on public dollars, Tom Gallagher, Florida Chief Financial Officer, has subpoenaed Marsh & McLennan to obtain documents...
Fla. Workers’ Compensation Rules Repealed; Little Effect Expected on Insurance Industry
Dec 3 2004 // The Florida Supreme Court yesterday decided that it lacked jurisdiction and repealed recent changes in Florida’s Workers’ Compensation Rules, but according to knowledgeable industry experts, the action should...
Speakers Highlight Problems Faced in 2004; Goals for 2005 at IBC Annual General Meeting
Dec 2 2004 // The members who attended the Insurance Bureau of Canada’s annual general meeting yesterday, Dec.1, heard President and CEO Stan Griffin describe a difficult year for the country’s insurers, followed by outgoing...
S&P Reports First Half Results in Japan’s P/C Sector Show Companies Still Under Pressure
Nov 30 2004 // Standard & Poor’s Ratings Services has issued a report noting that Japanese non-life insurance companies recently released results of for the first half of fiscal 2004, which indicate that underwriting...
Lockyer Subpoenas Safeco Corp.
Nov 24 2004 // California Attorney General Bill Lockyer subpoenaed Seattle-based property/casualty insurer Safeco Corp. in connection with his investigation into bid rigging and price fixing in the insurance industry, according to...
Best Affirms Korean Re ‘A-‘ Rating
Nov 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of Korean Reinsurance Company with a stable outlook. “The rating reflects the company’s continuous...
Action Needed to Address State-Based Insurance Regulation
Nov 22 2004 // With the latest insurance industry market conduct problem, consumers once again see not only the failure of state insurance regulation to protect them but the refusal of state insurance regulators to take responsibility...
Pickens: Despite Media Images Good Things Are Happening in Iraq
Nov 22 2004 // In late October 2004, Insurance Journal had the opportunity to speak with Arkansas Insurance Commissioner and former president of the National Association of Insurance Commissioners Mike Pickens about the time he spent in...
Insurers Pleased with Results of 2004 Federal and State Elections
Nov 22 2004 // While most folks are just happy the political advertisements are gone, Election Day 2004 did provide some results of interest to the insurance industry. President George W. Bush (R) was re-elected for a second term,...
R.I. OFFICIAL SEEKS BAN ON FEES:
Nov 22 2004 // In the wake of the ongoing insurance brokerage probe involving bid rigging and incentive payments, Rhode Island Secretary of State Matt Brown is proposing legislation to prohibit insurance industry “incentive...
Focus on the Future: Come 2014, Industry Should Look Very Familiar
Nov 22 2004 // PCI Execs Contend Current Players Will Adapt to Maintain Advantages Ten years from now, some of the players within the property/casualty insurance industry will have changed but the industry itself will not look...
Action Needed to Address State-Based Insurance Regulation
Nov 22 2004 // With the latest insurance industry market conduct problem, consumers once again see not only the failure of state insurance regulation to protect them but the refusal of state insurance regulators to take responsibility...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Nov 19 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
PIA Says Hunter’s Remarks During Senate Testimony “Outrageous and Not Constructive”
Nov 19 2004 // The National Association of Professional Insurance Agents has issued a strongly worded statement admonishing, J. Robert Hunter, the insurance director of the Consumer Federation of America (CFA), for statements made during...
Rated Self-Insurance Pools Outperform Commercial Insurers and Captives, A.M. Best Study Shows
Nov 18 2004 // Self-insurance pools interactively rated by A.M. Best Co. bear out the effectiveness of the stringent entrance requirements of members, focused loss-mitigation activities, and ownership interest in both the loss exposure...
Sen. Fitzgerald Says Broker Fee Scandal May End Antitrust Exemptions
Nov 17 2004 // A bulletin from the office of lame-duck Illinois Republican Sen. Peter G. Fitzgerald indicates that: “It might be time to use federal antitrust enforcement to ensure that the insurance brokerage industry remains...
