Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
RenaissanceRe to Acquire Tokio Millennium Re in $1.5 Billion Deal
Oct 30 2018 // Bermuda-based RenaissanceRe Holdings has agreed to pay about $1.5 billion to acquire Tokio Marine’s reinsurance platform (TMR), which includes Tokio Millennium Re AG and Tokio Millennium Re (UK). If closing tangible...
How High Customer Expectations Raise the Bar for Insurance Industry
Oct 30 2018 // Record high customer satisfaction among auto insurance customers is clearly good news for customers, especially at a time when their overall customer experience is being tested by the rising cost of auto insurance. For...
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
CoreLogic & Academic Institutions: The Future of Catastrophe Risk
Oct 18 2018 // This post is part of a series sponsored by CoreLogic. First on the Market Ten years ago, CoreLogic® (at the time, EQECAT) introduced the use of global Atmosphere-Ocean-General-Circulation Models (AOGCM) for...
Glen Mulready, Candidate for Oklahoma Insurance Commissioner
Oct 18 2018 // Oklahoma Insurance Commissioner Election 2018 The office of the insurance commissioner in Oklahoma is an elected position. The current commissioner, John D. Doak, is term limited and cannot run again; his successor will be...
Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael
Oct 18 2018 // Haley Nelson inspects damages to her family properties in the Panama City, Fla., spring field area after Hurricane Michael made landfall in Florida’s Panhandle on Wednesday, Oct. 10, 2018. (Pedro Portal/Miami Herald...
Insurer Group Hammers Claim that California Prop 103 Saved Drivers Billions
Oct 17 2018 // The insurance industry is taking exception to a new report commemorating the 30th anniversary of one of California’s primary auto insurance laws that claims the law has saved drivers billions of dollars. The Consumer...
Google Invests in Insurance Agency Software Firm Applied Systems
Oct 17 2018 // Giant Google’s investment arm has purchased a minority stake in Applied Systems, a provider of insurance technology and cloud-based software for independent agencies. The investment in Applied Systems is being made...
Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
Oct 15 2018 // Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough...
Insurtech: A Role Model of Innovative Talent Success
Oct 15 2018 // Several years ago, technology announced its intent to rock the insurance industry. Some dismissed the challenge and saw the rise of insurtech as a minor disrupter. But times have changed. Funding is pouring in for major...
P/C Direct Premium Written Up 6.1 Percent
Oct 15 2018 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2017, more than $636 billion of DPW was reported, a record high for the industry. For 2017, total...
Florida Regulator Urges Insurers to Respond Quickly After Michael, Says 500K Insureds At Risk
Oct 10 2018 // Fast-moving Hurricane Michael is expected to be a significant storm for the Florida Gulf Coast, and the state’s top insurance regulator says the insurance industry is ready to respond to whatever destruction it may...
Insurance Industry in Best Position to Advance Consumer Trust in Automated Driving
Oct 9 2018 // While the race to automated vehicles picks up speed, a new survey reveals consumer are skeptical of the technology and the safety claims of its advocates, a new survey finds. Also, the insurance industry may be in the best...
Tower Hill Specialty Enters Illinois Property Insurance Market
Oct 5 2018 // Ohio-based Tower Hill Specialty is now offering property insurance in Illinois. Currently available in seven states, Tower Hill Specialty provides homeowners, dwelling fire, manufactured housing and condominium products....
Credit Karma Enters Auto Insurance Market
Oct 3 2018 // Financial technology startup Credit Karma said on Tuesday it is expanding into insurance through a new service that makes it easier for users to find cheaper auto insurance policies. The tool generates suggestions by...
Is the Reinsurance Cycle Dead or Just Dormant? Executives Discuss New Realities
Oct 2 2018 // Many reinsurance executives have been left scratching their heads in surprise after last year’s natural catastrophes, which cost a whopping $100 billion but ended up having very little impact on rates. The insurance...
2 Recent Florida Supreme Court Rulings Could Impact Insurance Industry
Oct 2 2018 // Two recent decisions from the Florida Supreme Court that reversed rulings by the same District Court of Appeal will have a serious impact on the insurance industry. The consequential rulings came on Sept. 20, 2018 in the...
For True Disruption, Embrace Innovation
Oct 1 2018 // The auto insurance industry is in the midst of major disruption powered by technology and vibrant new players. Disruption gives way to fresh ideas that can have both profound and positive impacts on our lives and...
Insurance Is the New Kale? Not So Fast
Oct 1 2018 // An industry publication recently published an article that said insurance is “the new kale” because the one-time ignored garnish today is sought after as a healthy must-have in the form of everything from...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Oct 1 2018 // Insurance industry losses from Hurricane Florence, which hit the Carolinas mid-September as a Category 1 storm, will be manageable and not have a severe impact on insurers, according to experts. As the storm turned out to...
