Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
S&P Publishes Encouraging Report on Asia-Pacific Reinsurance Market
Sep 2 2003 // Standard & Poor’s Ratings Services has published a report on the Asia-Pacific nonlife reinsurance market, which indicates that it “is experiencing a period of profitability following a decade of weak...
Bruce Milligan, President and CEO of Republic Group Passes Away
Sep 2 2003 // The Republic Group of Insurance Companies, of Dallas, is deeply saddened to report the death of the company’s president and chief executive officer, Bruce Robert Milligan. Mr. Milligan, who was 47 and had been...
Swiss Re Reports $490 Million 1st Half Net Earnings
Aug 29 2003 // Unlike its German rival (see following story) Swiss Re posted a significant first half-earnings increase to CHF 691 million ($490 million), compared to CHF 118 million ($83.6 million) in the same period of 2002. Total...
Spalding Honored with ICT’s Raymond Mauk Award
Aug 18 2003 // Clem H. Spalding, who for many years played a major leadership role in the Texas automobile insurance market, was presented the Raymond Mauk Leadership Award at the Insurance Council of Texas’ Mid-Year Property and...
I.I.I. Says Most Companies Have Cyber-Risk Gaps in Their Coverage
Aug 14 2003 // As companies become more dependent on their computer networks for vital data, business continuity and communications, their vulnerability to cyber catastrophes reportedly increases. “Unfortunately, most companies are...
NCOIL Stacked With Insurance Insiders, Says Consumer Group
Aug 13 2003 // The Consumer Federation of America (CFA) released a study which reportedly found that at least 40 percent of the leadership of the National Conference of Insurance Legislators (NCOIL), an organization that offers model...
AIA Calls on N.M. Blue Ribbon Commission to Reduce Tax Toll on Insurers
Aug 12 2003 // The American Insurance Association (AIA) led a delegation of property-casualty trade associations on Monday in urging New Mexico’s Blue Ribbon Tax Reform Commission to recommend real improvements to the state’s...
Mercury to Travel N.J.’s Roads to Auto Competition
Aug 8 2003 // Thursday’s announcement by Governor James McGreevey that Mercury General will begin selling automobile insurance in the Garden State confirms that the strong and positive message sent by the recent passage of the New...
Industries Score on Helping Each Other
Aug 4 2003 // My idea of a big day on the golf greens is playing miniature golf or putt-putt as some folks refer to it. I can’t say I’m an expert on the various PGA and LPGA players, heck I even have trouble keeping score....
NAII OPPOSES BILL TO ESTABLISH FED-ERAL
Aug 4 2003 // A proposal by Senate Commerce Committee Chairman Fritz Hollings (D-S.C.) to repeal the McCarran-Ferguson antitrust exemption and create a new Federal Insurance Commission within the Commerce Department was strongly...
Fla. RRG Hopes to Address LTC Liability Crisis
Jul 21 2003 // With national and state efforts at altering medical liability rules once again failing to hurdle the predictable political roadblocks and the commercial insurance marketplace struggling to provide the coverages so many...
Florida RRG Hopes to Address LTC Liability Crisis
Jul 21 2003 // With national and state efforts at altering medical liability rules once again failing to hurdle the predictable political roadblocks and the commercial insurance marketplace struggling to provide the coverages so many...
NAII Opposes Bill to Establish Federal Insurance Regulatory Commission
Jul 17 2003 // A proposal by Senate Commerce Committee Chairman Fritz Hollings (D-S.C.) to repeal the McCarran-Ferguson antitrust exemption and create a new Federal Insurance Commission within the Commerce Department was strongly...
Political ‘Soap Opera’ Reportedly Characterizes 2003 R.I. Legislative Session
Jul 14 2003 // The Rhode Island legislature went through a marathon session and officially adjourned during the early morning hours recently, wrapping up a year of political posturing that resulted in a several gains for the insurance...
InMarket Partners Names New Senior Partner
Jul 8 2003 // InMarket Partners, LLC announced today that Scott L. Stanton of Berwyn, PA had been named a Senior Partner at the strategic insurance communication firm. Scott comes to InMarket Partners from AIG and Reliance Standard Life...
P/C Q1 Net Income Up 20.6%-Driven by Underwriting, Net Investment Gains
Jul 7 2003 // The U.S. property/casualty industry’s net income after taxes rose 20.6 percent to $6.4 billion in first-quarter 2003 from $5.3 billion in first-quarter 2002, driven by improved underwriting results and an increase in...
Q1 Numbers an Improvement, But Concerns Stand
Jul 7 2003 // The property/casualty insurance industry reported a statutory rate of return of 8.8 percent in the first quarter of 2003, up from a disappointing 1.0 percent in 2002 and the worst-ever negative 2.4 percent recorded in...
ITA Offers New CSR Job Skills Training Program
Jul 7 2003 // Getting a foot in the door of the insurance industry is the first challenge to a newcomer, but when compared to the challenge of figuring out the ABC’s of insurance, it is a small feat. There are so many ins and outs...
A Hard Market: The Most Opportune Time to Save for a Rainy Day
Jul 7 2003 // In a hard market, like the one we’re experiencing lately, many of the positive effects of the increased revenue can also carry some consequences that can negatively affect your agency down the road. A hard market is...
IIAT’s ‘Oscars’: Association Bestows Awards, Celebrates New Leadership
Jul 7 2003 // The Independent Insurance Agents of Texas 106th annual convention, held recently in San Antonio, was a huge success, with record attendance and lots of networking and educational opportunities for attendees. The event was...
