Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
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...
P&C Insurers Call for Compensation Disclosure
Nov 16 2004 // In testimony today before a Senate subcommittee, Property Casualty Insurers Association of America President and CEO Ernie Csiszar urged public policy makers to give careful consideration to efforts that make insurance...
Spitzer Sues Universal Life Resources over Broker Pay
Nov 15 2004 // A California-based company that brokers life, accident and disability policies for leading U.S. companies pocketed millions of dollars a year in hidden payments from insurers and from charges on clients’ unsuspecting...
Canadian P&C Insurance Industry Promises to Unveil Disclosure Plan Today
Nov 12 2004 // On November 12, 2004, insurance industry representatives will unveil what they say is a plan to demonstrate the industry’s commitment to ensuring that Ontario consumers enjoy the highest level of transparency and...
Canadian Insurance Industry Announces Disclosure Plan
Nov 12 2004 // The Insurance Bureau of Canada today revealed details of a plan to provide enhanced clarity and access to information in insurance sales and service. Components of the plan include a Code of Consumer Rights and...
Dallas to Host National Town Hall Meeting – ‘Connecting the Global Economy Through Insurance’
Nov 9 2004 // The Dallas All Industry Day event for 2004, sponsored by state and local insurance organizations, will focus on national and global economic issues and its infrastructure, the insurance industry. Entitled “Connecting...
Big ‘I’ Panelists Concerned About Terrorism, Asbestos, Tort Reform
Nov 8 2004 // Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company CEOs participating in a panel discussion during last month’s Independent Insurance Agents & Brokers of...
The October Surprise
Nov 8 2004 // In a not-so-far-away land not too long ago, insurance professionals were decrying the actions of high ranking officers of companies like Enron, WorldCom, Tyco, etc., for their challenged ethics, their “I’m on...
Looking at the Med-Mal Crisis from Both Sides
Nov 8 2004 // Insurance Journal National Editor Andrea Ortega-Wells recently moderated a “Take Two” debate discussing the hot topic of medical malpractice, and what, if any, reforms are needed. The debate features Paula...
Legislative watchdogs put a fresh spin on traditional lobbying techniques
Nov 8 2004 // Lobbying has been around for as long as any single profession has been around, but it has changed. It isn’t what it used to be,” said John Norwood, managing partner of Norwood & Mattoch, one of...
