Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
S&P’s Hosts 18th Annual Conference June 1-3
May 13 2003 // Unprecedented challenges facing the U.S. insurance industry in the past year, including asbestos claims and lawsuits, terrorism, a weak economy, and a continuing weak investment markets, have many insurance executives...
Fitch Sees P/C Insurers’ Underwriting Results Improving in ’03
May 12 2003 // Fitch Ratings’ current estimate is that the domestic property/casualty insurance industry will experience an improvement in the combined ratio to 103.9 percent in 2003 from 107.2 percent in 2002, with an increase in...
Report Says U.S. Insurance Industry Loses $13.7B Annually Due to Auto Premium Rating Error
May 7 2003 // Quality Planning Corporation (QPC), the Rating Integrity Solutions Company, released its annual Premium Rating Error report, detailing just how much often-overlooked premium rating errors diminish the overall profits of...
ACIC Urges Calif. Lawmakers to Nix Ban on Insurers’ Credit Use
May 7 2003 // Legislation that would reportedly prohibit homeowners’ insurers from using credit history for underwriting, rating or payment plans in California will be considered Wednesday by the Senate Insurance...
inreon Exits Reinsurance Market
May 7 2003 // inreon, the London-based electronic reinsurance trading platform, launched at the end of 2000 by Munich Re and Swiss Re, announced today that it was going out of business. “Since the launch of the platform, the...
RIMS Report: Property Market Softens, Will Casualty Follow’
May 5 2003 // A report released at the recent Risk & Insurance Management Society (RIMS) conference in Chicago found that after only two years of double-digit percentage premium increases, the property market has already begun to...
Giles Looks at MGAs As He Prepares to Step Down
May 5 2003 // Outgoing AAMGA president Rob Giles sat down with Insurance Journal recently to discuss the association, managing general agents and his term as president, among other things. Giles, president of Wisconsin-based Midwest...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
Full Speed Ahead
May 5 2003 // A year ago, Lloyd’s course was “steady as she goes,” following the enormous losses of Sept. 11, but with the appointment of a new chairman last November, Lord Peter Levene of Portsoken, coupled with a...
Putting Business Intelligence to Work
May 5 2003 // Business transpires in the Information Age. Although these times offer the most networked, data enriched progression ever in history, many smaller to midsize insurance companies are still using mainframe processing to...
The Challenging Future Requires Your Attention
May 5 2003 // While the hard market continues to support current rate levels, there is increasing turmoil within our industry. Is there any doubt that major changes are on the horizon? After all, who can predict the timing of the hard...
Giles Looks at MGAs As He Prepares to Step Down
May 5 2003 // Outgoing AAMGA president Rob Giles sat down with Insurance Journal recently to discuss the association, managing general agents and his term as president, among other things. Giles, president of Wisconsin-based Midwest...
Treasury Issues Final Rules Under Sec. 326 of the USA Patriot Act – No Change for P/C Industry
May 2 2003 // Under section 326 of the USA Patriot Act, the property/casualty industry remained unaffected in the latest round of proposed rules. This week, Treasury, the Financial Crimes Enforcement Network, and the seven federal...
Willis Reports on Global Reinsurance Market; Announces Secondary Share Sales
May 1 2003 // Global insurance broker Willis Group Holdings has released its analysis of the current state of the reinsurance marketplace. It also issued a revised announcement concerning secondary share sales by investors. The 31 page...
IICF Celebrates 10 Years of Service to Calif. Non-Profits
May 1 2003 // The Insurance Industry Charitable Fund (IICF) will celebrate a decade of community service resulting in more than $5.5 million in grants to nonprofit groups across California on Friday, May 2, at San Francisco City...
Facts and Findings about Windshields
May 1 2003 // Windshields are the number one insurance claim in the United States. Thirty percent of auto insurance claims are windshields. Edge cracks account for approximately 70-80% of these windshield replacement claims. Edge cracks...
Relationships Between Program Carriers, Administrators Crucial to Success
Apr 21 2003 // The relationship between program carriers and program administrators or managers is fundamental in determining the success of particular program. With the hard market still going strong, the programs marketplace has not...
Swiss Re CEO Says Reinsurance Prospects Favorable
Apr 21 2003 // Swiss Re’s CEO said recently that with combined ratios steadily improving and growth opportunities continuing to emerge, prospects look positive for the Property/ Casualty reinsurance market. John Coomber joined...
It’s Coming, Eventually, But This Time We’re Ready for It
Apr 21 2003 // I hate to be the one to bring it up, but…you know it’s coming. It’s lurking, ready to pounce. Not as bad as the 1970s or 1980s, or to the depths of the late 1990s or 2000, perhaps. But it will come again. It...
Relationships Between Program Carriers, Administrators Crucial to Success
Apr 21 2003 // The relationship between program carriers and program administrators or managers is fundamental in determining the success of a particular program. With the hard market still going strong, the programs marketplace has not...
