Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Glen Mulready, Republican Candidate for Oklahoma Insurance Commissioner
Oct 1 2018 // Glen Mulready has 35 years of experience in the insurance industry and is a member of the Oklahoma House of Representatives. He previously served as the House insurance committee chair and is now the floor leader...
SME Law Firms in England & Wales May See Rise in Professional Indemnity Rates: Marsh
Sep 26 2018 // Some professional indemnity (PI) insurers are applying greater rigor, are being increasingly selective, or are repricing risks, for small and mid-sized law firms in England and Wales, warned Marsh in a market update. As...
Florence Impact on Insurers Tempered by Mostly Uninsured Flood Losses
Sep 25 2018 // This enhanced satellite image made available by NOAA shows Hurricane Florence off the eastern coast of the United States on Wednesday, Sept. 12, 2018 at 5:52 p.m. EDT. (NOAA via AP) Insurance industry losses from Hurricane...
High Customer Expectations Leads to New Challenges for Insurance Satisfaction
Sep 17 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...
Congress Should Amend Definition of Private Flood
Sep 17 2018 // Historically, the surplus lines market has served as a supplement to the National Flood Insurance Program (NFIP) and standard market, but the passage of the Biggert-Waters Flood Insurance Reform Act of 2012 caused some...
Campaign Calls on U.S. Insurers to Reject Fossil Fuels
Sep 13 2018 // A handful of consumer and climate groups are calling on the insurance industry to ditch fossil fuels as part of a new campaign called Insure Our Future. The entreaty came on the eve of this week’s Global Climate...
Hurricane Florence Could Pressure Congress to Extend NFIP, IIAV’s Bradshaw Says
Sep 13 2018 // Hurricane Florence could put pressure on U.S. Congress to extend the National Flood Insurance Program, but “it is still an open question as to whether it will lead to a comprehensive reform bill passing,”...
North, South Carolina Insurance Chiefs Ready for Hurricane Florence
Sep 13 2018 // Hurricane Florence could be one of the largest storms to hit the Carolinas in decades and state insurance officials say they are ready for whatever it will bring to their regions. In interviews with Insurance Journal on...
AIR Worldwide and Capsicum Re Collaborate to Enhance Silent Cyber Models
Sep 4 2018 // Catastrophe modeling firm AIR Worldwide (AIR) announced it is collaborating with reinsurance broker Capsicum Re to enhance the insurance industry’s modeling of what many refer to as “silent” cyber...
Rebranding and Embracing Change to Thrive in the Future of Work
Sep 3 2018 // The wave of innovation has taken the insurance industry by storm, forever changing organizations, processes and people alike. Risk management telematics are calculating accurate policies for underwriters, big data is...
Insurer Downgrades Jumped in 2018 But Were Still Outnumbered by Upgrades: A.M. Best
Sep 3 2018 // Catastrophic weather events in 2017 helped spur an increase in rating downgrades for the U.S. property/casualty (P/C) industry during the first half of 2018, according to an A.M. Best report. But the report also notes that...
As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.
Sep 3 2018 // Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study...
People
Sep 3 2018 // James Anderson has assumed the role of executive vice president and chief financial officer at Chicago-based commercial insurer, CNA. He succeeds D. Craig Mense, who has been CFO since 2004 and will retire at the end of...
P/C Insurance Industry Delivered Improved Results in First Half
Aug 29 2018 // Mid-year results for U.S. property/casualty insurers and reinsurers show they are on the mend following a trying 2017, according to Fitch Ratings. Operating performance moderately improved for P/C (re)insurers during the...
1-in-5 Consumers Say They’d Use Amazon or Google for Home Insurance
Aug 28 2018 // One-in-five consumers say they would use Amazon or Google for their home insurance, a J.D. Power survey released today shows. And most of those who took the survey (80 percent) already have insurance with a large national...
As Cyber Insurance Market Grows, Accumulation Risk Is Key Concern: Geneva Assn.
Aug 20 2018 // Although cyber risk premiums have expanded sizably in recent years with loss ratios that compare favorably to other product lines, the danger of accumulation risks is a key concern for the market, according to a study...
Millennials in Insurance Talk Age and Tech Gaps, Insurance Being a ‘Well-Kept Secret’
Aug 20 2018 // What is the best part about working in insurance? For a group of millennials speaking with Insurance Journal at a July roundtable, the answer was simple. “The people,” roundtable participants agreed. At the...
How Florida’s Flood Insurance Model Could Work Nationwide
Aug 20 2018 // While Congress works on various reforms to the National Flood Insurance Program (NFIP), the time is ripe for the private insurance market to step up and play a greater role in providing Americans needed flood...
ICT to Begin Annual Texas ‘Hurricane Tour’
Aug 17 2018 // The Insurance Council of Texas (ICT) is set to launch its annual “hurricane tour” aimed at reminding coastal residents to be ready in case a hurricane or tropical storm should make landfall this year. Beginning...
Insurer Downgrades Jumped in 2018 But Were Still Outnumbered by Upgrades: A.M. Best
Aug 17 2018 // Catastrophic weather events in 2017 helped spur an increase in rating downgrades for the U.S. property/casualty (P/C) industry during the first half of 2018, according to an A.M. Best report. But the report also notes that...
