Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
$2.7 Billion PPG Asbestos Settlement Puts New Pressure on Insurers
Jun 10 2002 // A year ago insurance consultants Tillinghast-Towers Perrin published a report that global claims settlements and jury verdicts in asbestos related cases could reach $200 billion from over a million claims “before...
IIAT’s Stromberger Plans to Gather no Moss
Jun 10 2002 // Upon his retirement as the executive director of the Independent Insurance Agents of Texas later this summer, Ernie Stromberger has no intention of resting long enough to gather any moss. Instead, travel, time with family...
Good News/Bad News Story
Jun 10 2002 // Well, the hard market has arrived in all its glory. Everyone is ecstatic because they will make a lot of money. That’s the good news. The bad news is your clients are mad at you, the carriers and everyone else...
Calif. Insurers’ Homeowner Profits Drowning in Water Damage Claims
Jun 6 2002 // Rising household water damage claims have cost California insurers billions of dollars and are constricting the homeowners insurance market, according to a study done by the Insurance Information Network of California. The...
Applied Systems Joins InVEST Scholarship Program
Jun 5 2002 // Applied Systems has joined the InVEST scholarship program as a $10,000 partner. InVEST is the only education program strengthening the insurance industry by attracting a large pool of qualified insurance recruits. Started...
PIA of NY, NJ to Hold Hard Market Panel Discussion at Annual Conference
May 31 2002 // The Professional Insurance Agents of New York and New Jersey announced that they will host a panel discussion on the “Hard Market” at their joint annual conference which takes place June 9-11. The panel, which...
PIANH Conference Hears Candid Discussion on Insurance Market
May 30 2002 // The annual Conference of the Professional Insurance Agents of New Hampshire (PIANH) featured a panel discussion on the hardened insurance market, entitled “Market Conditions and Strategies for 2002,” Moderated...
Capital and the Insurance Industry-A Love/Hate Relationship
May 27 2002 // Capital fuels the insurance industry. It constitutes the reserves, pays the claims and provides the investment funds necessary to make a profit (excepting an aberration like 2001). However, the total amount of capital...
Capital and The Insurance Industry-A Love/Hate Relationship
May 27 2002 // Capital fuels the insurance industry. It constitutes the reserves, pays the claims, and provides the investment funds necessary to make a profit (excepting an aberration like 2001). If the industry were a car or an...
Where is P/C Industry Headed’
May 22 2002 // Orlando – “We cannot afford to pay another loss like 9/11.” Just one of the thoughts of Frank Coyne, president and CEO of Insurance Services Office (ISO), during a general sessions panel on the final day...
Insurance Industry Looking to Meet Technology Challenges
May 21 2002 // Orlando – Issues surround every business across the U.S. and the world for that matter. But what strategic issues are facing the insurance industry in 2002? Panelists, with sometimes varying points of view, tried to...
ISO Purchases AIR to Help P/C Industry Manage Extreme-Event Losses
May 15 2002 // New Jersey-based Insurance Services Office, Inc. (ISO) has acquired Boston-based Applied Insurance Research (AIR), a leading provider of risk-assessment and management technology for all major natural hazards in the U.S....
Insurance Industry Posts Strong Q1 Gains HOW REAL ARE THEY’
May 13 2002 // After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002...
IJ Asks: How Long Will the Hard Market Last’
May 13 2002 // When the market is soft, the insurance industry speculates how long it will be until it turns hard … similarly, when it is hard, everyone speculates how long it will be until it turns soft. Insurance Journal pulled out...
Legion & Villanova: Carriers Gone Bad’
May 13 2002 // The recent rehabilitation of the Legion and Villanova Insurance Companies of the Legion Insurance Group is sure to have raised some eyebrows across the insurance industry, but is it an indicator of what could be in store...
XML Provides the Missing Link for SEMCI
May 13 2002 // Agents have faced the problem ever since insurance companies first introduced applications. Each company had its own form, so the agent who wanted to submit the same account to several underwriters had to write the same...
Insurance Industry Posts Strong Q1 Gains
May 13 2002 // After suffering its first ever net loss in 2001, an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of...
XML Provides the Missing Link for SEMCI
May 13 2002 // Agents have faced the problem ever since insurance companies first introduced applications. Each company had its own form, so the agent who wanted to submit the same account to several underwriters had to write the same...
AIG’s Terrorism Meeting Focuses on Security
May 10 2002 // In the words of security consultant Brian Jenkins, “There will be further incidents of terrorism.” Jenkins, speaking at AIG’s “Terrorism: The Cost of Risk” meeting in Los Angeles, described...
IVANS Recognized for InVEST Donation
May 7 2002 // InVEST, an education program strengthening the insurance industry by attracting a large pool of qualified insurance recruits, announced a donation made by IVANS, Inc., an insurance industry-owned communications network, in...
