Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Lloyd’s to Cut 10% of UK Employees on Soft Market Pricing Pressures
Jun 26 2017 // Lloyd’s of London is planning to cut 10 percent of its staff in the UK as the world’s oldest insurance market looks to streamline operations and reduce costs amid continued pricing pressure on its...
House Committee Adds 5 More Bills to Its Flood Insurance Reform Package
Jun 22 2017 // The House Financial Services Committee advanced five flood insurance proposals on Wednesday, adding to the two bills it passed last week. The House measures seek to reform and reauthorize the National Flood Insurance...
Medical Professional Insurance Market in Good Health for Now: A.M. Best
Jun 19 2017 // The U.S. medical professional liability (MPL) insurance sector is stable, with strong capitalization and profitable, albeit declining, operating performance, plus the prospect of positive earnings in the medium term,...
Minding Your Business: Agency of the Future
Jun 19 2017 // Yogi Berra once said: “It’s tough to make predictions, especially about the future.” Ignoring that wisdom, what will the insurance agency business model look like in 10 years or 20 years? Right now there...
U.S. P/C Insurance Industry Keeps Quiet on Trump Exit from Paris Climate Accord
Jun 19 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...
Blockchain Firm Bitfury Teams with Insurance Broker Risk Cooperative
Jun 16 2017 // Blockhain technology company The Bitfury Group said it is partnering with the Washington, D.C. insurance advisory and brokerage firm Risk Cooperative to pioneer blockchain applications in the $60 billion insurance...
House Panel Gets Down to Business on Flood Insurance Proposals
Jun 15 2017 // House lawmakers are weighing seven proposals to renew and reform the federal flood insurance program, an area where there is a good amount of bipartisan agreement that something should be done and even on what to do. The...
In ‘Classic’ Soft Market Battle, Brokers and Carriers Attack Each Other
Jun 14 2017 // Chief executive officers of property/casualty insurance carriers and insurance brokers called each other out last week for engaging in activities they said are “classic signs of a soft market.” During a session...
Protectionism, Cloud Accumulation, Water Stress Among 20 Emerging Risks Facing Insurance Industry: Swiss Re
Jun 13 2017 // Reduced market access, regulatory fragmentation, the return of inflation and cloud risk accumulation pose the largest challenges with the highest downside risk potential in the short term, according to experts at Swiss...
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...
