Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
South Carolina Kicks Off Pro-State Regulation Campaign
Apr 18 2003 // “Regulation of the insurance industry in South Carolina is best handled by the Department of Insurance in Columbia, not a federal department of insurance in the District of Columbia,” said Gov. Mark Sanford (R)...
Institute President Reacts to Full Year 2002 Results
Apr 18 2003 // The property/casualty industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office, Inc....
P/C Industry’s Surplus Falls Despite Improvement in Net Income After Taxes
Apr 17 2003 // The property/casualty insurance industry’s statutory surplus dropped $4.4 billion to $285.2 billion at year-end 2002 from $289.6 billion at year-end 2001. Surplus declined despite improvement in the industry’s...
Taking a look at 2002 Results
Apr 17 2003 // The property/casualty insurance industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office,...
Swiss Re CEO Says Reinsurance Prospects Favorable Despite Current Capital Market Weakness
Apr 10 2003 // Swiss Re’s CEO said Wednesday that with combined ratios steadily improving and growth opportunities continuing to emerge, prospects look positive for the property & casualty reinsurance market. John Coomber...
PIANY Long Island RAP 2003 Is a Success Despite the Weather
Apr 9 2003 // The early spring chill wasn’t enough to keep nearly 400 agents, company representatives and industry colleagues from showing up at The Professional Insurance Agents of New York State Inc.’s Long Island Regional...
Supreme Court Sides With State Farm, Insurance Industry
Apr 7 2003 // A jury award that would have forced State Farm Insurance Cos. to pay a Utah man $145 million in punitive damages has been overturned by the U.S. Supreme Court. Insurance trade groups said the 6-3 decision was a win not...
INSURANCE BUREAU OF CANADA SAYS INDUSTRY REACHED A ‘NEW LOW’ IN 2002
Apr 7 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
Hard Market Hits California Homeowners
Apr 7 2003 // Credit scoring, CLUE reports become targets of Commissioner Garamendi’s Ire The hard market has hit California homeowners hard. State Farm, which had nearly 23 percent market share in the state in 2001 according to...
Challenges Abound in the High-Valued Homes Market
Apr 7 2003 // For more than a decade, the U. S. homeowners insurance industry has failed to produce acceptable results. Less publicized has been the challenges faced by insurers of high-valued homes. To a large extent, the same culprits...
War in Iraq: The Known and Unknown Consequences
Apr 7 2003 // As President Bush and his advisers made good on their defiant promise to act alone if necessary to get rid of Iraq’s tyrannical régime, the world heard echoes of Mark Antony’s cry of rage and revenge,...
LDI JOINS NITF
Apr 7 2003 // Acting Louisiana Commissioner of Insurance Robert Wooley announced that the Louisiana Department of Insurance has accepted an invitation to join the NeighborWorks National Insurance Task Force (NITF). Wooley appointed...
Challenges Abound in the High Valued Homes Market
Apr 7 2003 // For more than a decade, the U. S. homeowners insurance industry has failed to produce acceptable results. Less publicized has been the challenges faced by insurers of high valued homes. To a large extent, the same culprits...
Mercator and IVANS Partner to Deliver Automated P/C Transaction
Apr 4 2003 // Mercator® Software Inc. and IVANS® Inc. announced an alliance to jointly market a new solution, Mercator InsideIVANSP&C(TM), that will speed the processing of business transactions within the property &...
SAS Launches New Insurance Industry Solutions
Apr 1 2003 // SAS, a provider in business intelligence, announced the release of SAS® Insurance Intelligence Solutions, a new industry-specific solution offering, at the annual meeting of the SAS Users Group International (SUGI). SAS...
ACIC’s 14th Annual General Counsel Seminar Set for July
Mar 28 2003 // Insightful speakers and informative panels will present the most up-to-date overviews of issues affecting property/casualty insurers writing business in California during the Association of California Insurance...
LDI Joins National Insurance Task Force
Mar 25 2003 // Acting Louisiana Commissioner of Insurance Robert Wooley announced that the Louisiana Department of Insurance has accepted an invitation to join the NeighborWorks National Insurance Task Force (NITF). Wooley appointed...
PIACT Elects Officers, Directors at Convention; New President Stresses “the Importance of Perpetuation”
Mar 24 2003 // The Professional Insurance Agents of Connecticut announced the newly elected officers and Directors at the organization’s annual convention held last week at Foxwoods Casino and Resort, Mashantucket, Conn. PIACT...
CDI Looks to Shore Up California’s Workers’ Comp Market
Mar 24 2003 // California Insurance Commissioner John Garamendi took center stage when he addressed the problems plaguing State Compensation Insurance Fund on the heels of his recent plans to reform California’s ailing...
Med Mal Fever: When Doctors Walk Out, Politicians Notice
Mar 24 2003 // They’re baaack. High-flying medical malpractice liability claims losses, that is. The availability crisis of the 1970s and the affordability crisis of the 1980s may be nothing compared to the crisis insurers and...
