Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Swiss Re Report Urges Reinsurers to “Get-back-to-Basics”
Oct 25 2002 // Swiss Re announced that it has issued a new “Focus” report at the Baden-Baden reinsurance meetings urging the world’s reinsurers to “get-back-to-basics” in their approach to natural...
Additional Workplace Safety Workshop Offered to Pa. Business Owners
Oct 18 2002 // A fourth safety workshop conducted by the National Association of Independent Insurers (NAII) and the U.S. Occupational Safety and Health Administration (OSHA) will be offered to small business owners and manager Oct. 22...
AIA Warns N.Y. Assembly of Unlimited Terror Risk
Oct 17 2002 // The American Insurance Association (AIA) testified before the New York State Assembly Insurance Committee that terrorism risk is unlimited, and therefore cannot be covered by the private insurance market, arguing for the...
Gov’t, Insurers Tout Cyber Coverage
Oct 14 2002 // Recently, the White House unveiled the national plan to Secure Cyberspace, an initiative urging insurers and companies to assess and manage exposures to cyber risk. Among other things, the plan calls for developing new...
Tight Reinsurance Capacity Puts the Squeeze on Program Market
Oct 14 2002 // As more and more reinsurers become increasingly timorous in a hard market yet to peak, one of the most acutely affected business lines have been programs. Reinsurance capacity for many standard commercial lines has dropped...
Tight Reinsurance Capacity Puts the Squeeze on Program Market
Oct 14 2002 // As more and more reinsurers become increasingly timorous in a hard market yet to peak, one of the most acutely affected business lines has been programs. Reinsurance capacity for many standard commercial lines has dropped...
Strong Action Needed to Stabilize Homeowners Market
Oct 14 2002 // The Texas homeowners insurance market—like many around the nation—is experiencing rising premiums, controversy over mold claims and debate over the use of credit scoring. Texans purchase 3.9 million homeowners...
Technology Outsourcing’ Exploring ASPs, xSPs
Oct 14 2002 // Technology and innovation advance continuously, and it is difficult, if not impossible, for insurance companies to stay abreast of emerging technologies. In fact, carriers may not only fall behind, but they could even risk...
Swiss Re Sigma Study Analyzes 2001 Losses, Equity Decreases
Oct 10 2002 // Swiss Re’s latest Sigma report, No.4/2002, offers an analysis of the non-life insurance industry, and how it is adjusting to “two major shocks – the catastrophic losses of 2001 and the ongoing stock...
RPNI Hosts Nov. Conference on Navigating the Hard Market
Oct 8 2002 // RiskProNet, Intl. (RPNI), is holding a conference on “Navigating the Hard Market” at the Scottsdale Conference Resort in Scottsdale, Ariz., Nov. 10-12. According to RPNI Executive Director Gary Normington,...
Despite Better Pricing, A.M. Best Reports P/C Rating Downgrades Outpace Upgrades
Oct 8 2002 // The property/casualty industry saw a gain in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, “Rating Downgrades Outpace Upgrades Despite...
A.M. Best E&S Review Reports 35 Percent Increase in Direct Premium Volume
Oct 8 2002 // The U.S. excess and surplus lines market reported a 35 percent increase in direct premium volume in 2001, according to the “Annual Review of the Excess & Surplus Lines Industry-September 2002,” released by...
Aon Study Reports Homeowners Marketplace Still Not Earning Its Cost of Capital
Oct 4 2002 // Aon Corporation announced the results of Aon Re Worldwide’s comprehensive study of the U.S. homeowners marketplace. The results of the study reveal that the homeowners insurance industry, despite recent rate and...
FSA Sets Out Goals for U.K. Insurance Industry Regulation
Oct 1 2002 // The U.K.’s Financial Services Authority, which assumed regulatory control of the country’s insurers a year ago, issued a bulletin stating that its goals were to create more openness with regulators and...
The State of the Surplus Lines Market with Michael J. Hall
Sep 30 2002 // Insurance Journal publisher Mark Wells recently spoke with Michael J. Hall, chairman of M.J. Hall & Company Inc. and president of Golden Bear Insurance Company, both headquartered out of Stockton, Calif. Hall shared...
Calif. Legislative Bills Make Dash for the Finish Line
Sep 30 2002 // The 2002 California legislative session came to an end recently, with a flurry of industry-related bills shuffling through the mix. Many new laws and measures were introduced this year by state lawmakers regarding...
Hard Market Conditions Can Reward Good Risk Management Says Lloyd’s Chairman
Sep 30 2002 // Lloyd’s Chairman Sax Riley told an audience of 600 insurance professionals in Milan, Italy that the way in which business organizations manage the risks they face is becoming an increasingly important factor in the...
Aiming For Common Sense in Homeowners Market
Sep 30 2002 // The past year has been a difficult one for homeowner’s insurance agents and consumers. Providers have faced spiraling claims costs, while consumers are outraged by rate hikes—leaving agents in the middle to handle...
NAII Comments on Farmers’ Withdrawal From the TX Homeowners Market
Sep 30 2002 // Don Hanson, southwest regional manager of the National Association of Independent Insurers (NAII), issued the following statement on Farmers Group of Insurance Companies’ recent decision to leave the Texas homeowners...
IRMI Providing Free Tips on Surviving Hard Market
Sep 30 2002 // International Risk Management Institute, Inc., has published “The IRMI Hard Market Survival Guide 2002” on its Web site, www.IRMI.com. The article provides 20 practical recommendations to help business...
