Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
China Pacific Insurance Joins Industry Blockchain Initiative, B3i
Aug 26 2019 // China Pacific Insurance Group (CPIC) has become the latest investor in B3i, the insurance and reinsurance industry’s blockchain initiative. CPIC’s membership further strengthens B3i’s representation...
P/C Insurers’ First-Half Underwriting Income Drops; Downgrades Outpace Upgrades: A.M. Best
Aug 26 2019 // The U.S. property/casualty industry’s net underwriting income declined by 9.6% to $4.8 billion in the first half of 2019, compared with $5.3 billion in the same prior-year period, A.M. Best reports. Also, ongoing...
Crying Robots Aside, Insurance Industry Shouldn’t Fear Artificial Intelligence: Viewpoint
Aug 22 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
Underwriters Get Picky and Other Trends in Construction Insurance
Aug 19 2019 // Construction insurance specialists say their insurance market is strong with plenty of capacity and underwriters competing for the best accounts. According to specialists interviewed by Insurance Journal for their...
Insurance Driving Up Total Cost of Risk for Businesses
Aug 19 2019 // Businesses and organizations paid nearly two percent more in 2018 than they did in 2017 to cover the total cost of risk. Reversing the trend of falling average TCOR per $1,000 of revenue seen from 2013 to 2017, average...
Legislation Highlights Why Cyber Market Should Keep Watch on Small Business Risk
Aug 19 2019 // The 2018 Verizon Data Breach Investigations Report cited that 58% of cyberattack victims were small businesses, and the 2019 Symantec Internet Threat Report™ stated that employees working at small businesses were...
How Intellectual Property Compares with Cyber
Aug 19 2019 // Intellectual property (IP) is an area of risk that is underinsured and one that presents interesting opportunities for agents and brokers, according to Erik Alsegard, Intellectual Property practice leader for CFC...
Near National P/C Carriers Identified for 2019
Aug 19 2019 // This year marks the 13th year of the Demotech Company Classification System, which was established in the Feb. 12, 2007, issue of Insurance Journal. The system categorizes insurers into one of 11 categories based on an...
IICF Promotes Myatt to VP, Chief Program Officer
Aug 7 2019 // The Insurance Industry Charitable Foundation (IICF) has promoted Betsy Myatt to vice president, chief program officer, effective Aug. 1. In this newly created role, Myatt will focus on the continued expansion of IICF...
Chubb Promotes Ortega to President, Overseas, as Andrade Moves to Top Everest Role
Aug 1 2019 // Chubb Ltd. has appointed Juan Luis Ortega as executive vice president, Chubb Group, and president, Overseas General Insurance. He succeeds Juan Andrade, who is leaving Chubb to take the role of president and chief...
A Year after GDPR, How Can U.S. Insurers Prepare for Data Privacy Regs Closer to Home?
Jul 30 2019 // More than a year after the European Union implemented its General Data Protection Regulation (GDPR), U.S. insurers are examining what they can learn as they prepare for the implementation of similar data privacy laws in...
Viewpoint: What Insurance Industry Should Acknowledge About Small Business Cyber
Jul 30 2019 // The 2018 Verizon Data Breach Investigations Report cited that 58% of cyber-attack victims were small businesses, and the 2019 Symantec Internet Threat Report stated that employees working at small businesses were more...
Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective
Jul 30 2019 // Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its...
Addressing Florida’s Rising Tide of Flood Exposures
Jul 24 2019 // In the past five years, all 50 states have experienced some type of flooding. Flooding has led to disasters throughout the decades, and this year, it is expected to become unprecedented yet again. Despite a long history of...
Consumer Group Gives California Insurance Commissioner to Month’s End for Contributions Records
Jul 18 2019 // A watchdog group has given California Insurance Commissioner Ricardo Lara until July 31 to produce public records related to meetings with insurance industry representatives who reportedly gave him $54,300 in campaign...
Carolin Appointed CEO of Re/Insurance Industry’s Blockchain Initiative, B3i
Jul 17 2019 // John Carolin has been appointed chief executive officer of B3i Services AG (B3i). Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018. Carolin’s work...
Petri Honored with ICT’s Raymond Mauk Leadership Award
Jul 15 2019 // The Insurance Council of Texas has presented the Raymond Mauk Leadership Award to Verle Petri, a long time insurance executive and expert on Texas insurance regulation and policy. ICT honored Petri with the award during...
The Potential of Artificial Intelligence
Jul 15 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
Insurance Industry’s Talent Hunt. It’s Time to Turn Up the Volume: Viewpoint
Jul 12 2019 // The insurance industry needs help — lots of it. By 2020, it’s predicted that we’ll have 400,000 open positions. Of course, we’ve been talking about the talent shortage for years; it’s not new...
For Best in Insurance Industry Marketing, the Awards Go to…
Jul 11 2019 // HealthMarkets and The Co-operators won the most awards overall, six each, including two Best of Show Awards, at this year’s annual Insurance Marketing and Communications Association (IMCA) awards gala. They were...
