Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Burand’s State of P/C Insurance Industry, Part 1: Agencies Facing Paradigm Shift
Jun 13 2017 // Editor’s Note: This is the first of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s...
N.C. Lawmakers Again Scuttle Bill to Reform Rate Bureau
Jun 11 2017 // Most of the auto insurance industry has for several years been trying to convince North Carolina’s lawmakers to eliminate the last vestiges of the once-common “rate bureau” system, under which the...
The Hartford Launches Nationally Registered Apprenticeship Program
Jun 8 2017 // The Hartford is working to educate college students about opportunities in the insurance industry while helping to make the transition from college to an insurance career an easier one. This initiative comes through its...
Florida’s Chief Fraud Fighter Moves On: Atwater Recalls Successes, Frustrations With Industry
Jun 8 2017 // Lifelong Florida resident, long-time Florida politician, and head of the Florida Department of Financial Services (DFS), Jeff Atwater shocked the state when he announced in February he would step down as chief financial...
What Is Blockchain and How Does It Work?
Jun 7 2017 // First of Two Articles While everyone talks about blockchain, also known as mutual distributed ledger technology, just a few people actually know what this technology can do and how it could someday revolutionize the...
U.S. P/C Insurance Industry Mostly Silent on Trump Exit from Paris Climate Accord
Jun 6 2017 // The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the...
Connecticut Governor Says State Senate Bill Ignores Insurance Industry Concerns
Jun 5 2017 // Connecticut Governor Dannel P. Malloy sharply criticized the Connecticut Senate for unanimously passing legislation early Friday that creates a new mandate for health insurers, arguing the bill shows a “lack of...
Excess Capacity Continues to Drive Rate Cuts at June Renewals: JLT Re Report
Jun 5 2017 // Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell...
P/C Industry Posts $4.7B Net Underwriting Loss in 2016
Jun 5 2017 // Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by higher catastrophe-related property losses, according to ISO and the Property Casualty Insurers...
Texas Lawmakers Pass ‘Hailstorm’ Litigation Bill
Jun 5 2017 // Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events passed the state...
Florida Youth Activist Urges Industry to Step Up Fight Against Climate Change
Jun 2 2017 // Seventeen-year-old climate activist Delaney Reynolds has a message for the insurance industry on the topic of climate change: It’s time to step up and take action against this global crisis. “Your future...
What Liability Insurance Restatement Final Approval Delay Means
May 31 2017 // It had been expected by many that, after seven years of arduous work, the American Law Institute’s “Restatement of the Law, Liability Insurance” would be approved last Tuesday at the Institute’s...
State of the P&C Insurance Industry 2017 Report-Chris Burand
May 30 2017 // San Diego, CA, May 30, 2017- Highly respected and outspoken insurance agency and industry consultant Chris Burand shares his “must-read” annual state of the property/casualty insurance industry report with his...
Cyber Insurance Market Growing More Slowly Than Expected: Allianz
May 26 2017 // The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of...
Here’s What the House Has in Mind for Revamping Flood Insurance Program
May 26 2017 // A much-anticipated House subcommittee proposal on flood insurance promises to reauthorize the National Flood Insurance Program (NFIP) for five years beyond its September 30 expiration date. The proposal would introduce...
P/C Insurance Industry Again Reports Underwriting Loss in Q1
May 25 2017 // The U.S. property/casualty industry posted a first-quarter 2017 net underwriting loss of $841.5 million, according to preliminary financial results, continuing the industry’s underwriting loss trend seen in 2016. The...
Rhode Island Insurance Agents Have New Coastal Insurance Market
May 24 2017 // Independent insurance agencies in Rhode Island have a new market for coastal homes – Spinnaker Insurance Company. Spinnaker’s New England distributor, Insurance Agency and Customer Service Company (IACSC) of...
WannaCry Attack Could Be Opportunity for Cautious Insurance Industry: A.M. Best
May 23 2017 // According to a rating agency A.M. Best, the the recent WannaCry ransomware attack could be a benefit to the insurance industry if it leads to better-crafted policies with clear language that provide the desired protection...
States Getting More Active on Autonomous Vehicle Rules, Says PCI Director
May 22 2017 // Powered by InsuranceJournal.tv Thinking about the rules of the road for a time when autonomous vehicles dominate the landscape is probably like envisioning a horseless carriage on the plains of the Old West. But that...
Texas ‘Hailstorm’ Litigation Bill Headed to Governor’s Desk
May 17 2017 // Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events has passed the state...
