Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Miller Names New Equity Partners: Hands, Lane, Wheeler, Henderson and Speers
Nov 9 2018 // Miller Insurance Services LLP announced that it has boosted its partnership with five internal appointments. With effect from Jan. 1, 2019, James Hands, Charles Lane, Phil Wheeler, Martin Henderson and Ben Speers will be...
Patrick Ryan Hails Program Business Amid Retail Consolidation, Moves Toward MGAs
Nov 8 2018 // Target Markets Program Administrator Association Industry Keynote Speaker Patrick G. Ryan, founder, chairman and CEO, Ryan Specialty Group, addressed attendees at the group’s 18th Annual Summit on Oct. 22., in...
Regulators, Industry Seek to Keep Florida AOB Abuse in Check After Michael
Nov 5 2018 // In an effort to keep the Florida assignment of benefits (AOB) crisis from further worsening in the state, Florida’s insurance industry, regulators and consumer advocates are on high alert for AOB activity in the wake...
Pressure’s on the Trucking Sector
Nov 5 2018 // The transportation industry is considered a barometer of the U.S. economy. If freight is trending up, so too is the U.S. economy. But capacity constraints for trucking – including a shortage of qualified drivers, low...
Why It’s Important to Understand Your Carriers
Nov 5 2018 // I have been analyzing the insurance industry and individual insurers and agencies for a long time now. When I started analyzing the industry, I never imagined, and I have not met any industry veterans who could imagine,...
People
Nov 5 2018 // Valerie Butt has been named head of Casualty for Zurich North America Commercial Insurance. Based in Chicago, Butt will lead the casualty business with responsibility for new and renewal business. Butt takes on the role...
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....
