Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Victory for the Industry
Jul 5 2004 // This past Fourth of July weekend, the insurance industry celebrated a small victory in their push to keep the Terrorism Risk Insurance Act (TRIA) alive past its Dec. 31, 2005 sunset date. Following the National Association...
Sarbanes-Oxley ‘Stifles Competition’, Says MetLife CEO
Jul 5 2004 // In the opinion of one major industry player, The Sarbanes-Oxley Act of 2002 set in place “a mad rush to save the world from bad management,” a misguided and costly strategy that will fall victim to its...
Association Awards Golden Torch to Insurance Journal’s Publisher
Jul 5 2004 // Mark Wells Mark Wells, editor and publisher of Insurance Journal and Insurance Journal Online and CEO of Wells Publishing Inc., has been awarded the Insurance Marketing Communications Association’s (IMCA) 2004 Golden...
Most Recent Hard Market May Be Past Its Prime
Jul 5 2004 // Over the period 1989 through 2001, the property/casualty insurance marketplace saw direct written premium grow from $228 billion to nearly $362 billion. This represented a compound rate of increase of approximately 4...
This Time, We’ll Do It The Right Way
Jul 5 2004 // New U.S. P/C Insurers Learn from Sins of Their Predecessors In the summer of 2001, the hard cycle had already arrived for the U.S. property/casualty marketplace for all lines of coverage. Prices were trending up as experts...
CII, CILA Launch U.K. Claims Faculty
Jul 1 2004 // The U.K’s Chartered Insurance Institute (CII) and the Chartered Institute of Loss Adjusters (CILA) announced the launch of a new forum for the insurance industry’s 100,000-strong claims. The bulletin noted that...
Fitch Affirms PartnerRe Debt and Insurance Ratings
Jun 30 2004 // Fitch Ratings announced that it has affirmed the ‘AA’ insurer financial strength rating of Bermuda’s Partner Reinsurance Company and the ‘A+’ long-term issuer rating of Partner Reinsurance...
Big ‘I’ to Offer Continuing Ed Courses in Orlando
Jun 30 2004 // For individuals needing continuing education (CE) credits to meet their state’s insurance licensing requirements, then the 2004 Big “I” Convention this October at the Walt Disney World Swan and Dolphin...
P/C Industry’s Q1 Net Income Doubles
Jun 29 2004 // The U.S. property/casualty industry’s net income after taxes rose to $13.3 billion in first-quarter 2004 from $6.5 billion in first-quarter 2003 as insurers posted an underwriting profit for only the second time...
N.J. Commissioner: Auto Insurance Market Recovering; Drivers Reap Benefits
Jun 28 2004 // New Jersey Banking and Insurance Commissioner Holly Bakke predicted recently that positive financial results for a majority of companies in the auto insurance marketplace will continue to produce returns for New Jersey...
Conn. Gov. Signs Insurance Bills Before Exiting
Jun 22 2004 // Although Connecticut Gov. John G. Rowland vetoed a medical malpractice insurance reform bill last month because it failed to cap awards, he has signed into law a number of bills that are of importance to the...
Association Awards Golden Torch to IJ’s Publisher
Jun 22 2004 // Mark Wells, editor and publisher of Insurance Journal and InsuranceJournal.com and CEO of Wells Publishing Inc., has been awarded the Insurance Marketing Communications Association’s (IMCA) 2004 Golden Torch Award...
Association Awards Golden Torch to Insurance Journal’s Publisher
Jun 22 2004 // Mark Wells, editor and publisher of Insurance Journal and InsuranceJournal.com, and CEO of Wells Publishing Inc., has been awarded the Insurance Marketing Communications Association’s (IMCA) 2004 Golden Torch Award....
The Truth About Texas’ Homeowners Insurance Industry
Jun 21 2004 // Due to recent reforms the Texas insurance market is stabilizing and loss ratios in Texas are better. But while things are better, conditions are far from first-rate for insurance companies. There have been no real signs of...
Best’s Report Finds European Reinsurers’ Financial Strength Stabilized
Jun 18 2004 // A study conducted by A.M. Best Co. has concluded that Europe’s reinsurers have seen their financial strength stabilize after a two-year period of downward pressure. “Strong accident year results were maintained...
SECURA: Looking to Sustain Hard-Market Success
Jun 18 2004 // The CEO of Appleton, Wis.-based SECURA Insurance Cos., John Bykowski, took some time recently to talk with IJ during the Independent Insurance Agents of Wisconsin’s annual convention. SECURA has total assets of $406...
R.I. Senate Backs Regional Health Plan
Jun 17 2004 // The Rhode Island Senate has approved legislation introduced by Sen. James C. Sheehan (D-Dist. 36) of Narragansett and North Kingstown to integrate Rhode Island’s insurance rules and regulations with those of...
NAMIC Urges Regulators to Reform Personal Lines
Jun 17 2004 // The top state government affairs official for the National Association of Mutual Insurance Companies encouraged insurance regulators to exert leadership in their states to achieve personal lines rate modernization as the...
Fifth Annual Educational Forum Benefits Community Children
Jun 15 2004 // The Mt. Diablo Chapter CPCU and the Insurance Industry Charitable Foundation – Child Abuse Prevention Program (IICF-CAPP) recently wrapped up their Fifth Annual Educational Forum for the insurance industry. The Forum...
Guy Carpenter, EQECAT Announce Probabilistic German Flood Risk Model
Jun 14 2004 // Guy Carpenter and EQECAT announced their intention to jointly develop the “DACH Flood” software, which they described as “an accumulation tool that will allow users to assess their exposure to flood in...
