Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
California’s Cyence Hires Merchant to New York City Office
Dec 7 2016 // Cyence, a San Mateo, Calif., based company that works to empower the insurance industry to model the economic impact of cyber risk, has named John Merchant as director of business development. He will be working with...
Florida Supreme Court Rules Against Insurer in Concurrent Loss Case
Dec 6 2016 // The Florida Supreme Court has ruled in favor of policyholders seeking coverage on claims where there is the possibility of multiple concurrent losses but at least one of the losses is covered under their policy. Though the...
Reinsurers See Rate Stabilization on the Horizon
Dec 5 2016 // North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the...
As Reinsurance Market Evolves, So Must Distribution, Say Experts at Forum
Dec 1 2016 // The flow of so-called alternative capital into the global reinsurance market is continuing, bringing it closer to the “convergence” in which traditional providers will eventually become conduits to the capital...
Asbestos Losses Continue to Haunt P/C Insurers: A.M. Best
Nov 29 2016 // Net ultimate asbestos losses for the U.S. property/casualty industry have risen once again. They’re now at $100 billion, and that’s $15 billion higher than the previous estimate, according to a new A.M. Best...
Insurance Industry Sees Challenges with New York City Crawler Crane Requirements
Nov 29 2016 // The Department of Buildings of the City of New York’s (DOB) recent move to better regulate crawler crane operations in New York City has led to concern for some in the insurance industry that a stricter regulatory...
Major Canada Earthquake Could Lead to Widespread Insurer Insolvencies: Report
Nov 22 2016 // A massive earthquake off the coast of British Columbia has the potential to cause widespread failure among insurance companies and trigger a domino effect across the financial sector, according to a Conference Board of...
Q&A: Deloitte Insurance Expert Discusses Hurricane Season and Flood Insurance
Nov 22 2016 // Powered by InsuranceJournal.tv Although Atlantic hurricane season ends in November, cleanup from any damage seen on the East Coast could last beyond the end of the season. Some coastal areas, such as Virginia Beach, were...
U.S. Insurers Now Among Major Buyers of ETFs: JP Morgan
Nov 21 2016 // The booming demand for hot exchange-traded funds has finally caught up with the staid, sleepy insurance industry. U.S. insurers are the latest group of investors to start buying ETFs (exchange-traded funds) en masse, with...
How Tech Can Turn the Tide of Flood Insurance
Nov 21 2016 // As residents of coastal Louisiana, New York and New Jersey have discovered, a house with a sea view can carry a serious and soggy downside. In terms of storms and their severity, a building’s location has never...
People
Nov 21 2016 // Rene van Winden has joined Lockton from Aon as a senior vice president and national energy property leader. He is based in Houston. Van Winden previously spent more than a decade with insurance broker Aon, most recently as...
Rising Earthquake Risks and Oklahoma’s Insurance Market
Nov 21 2016 // The 5.0 magnitude earthquake that struck near the oil and gas storage hub of Cushing, Oklahoma, on Nov. 6 put the nation on alert to the vulnerability of the country’s oil reserves to the significant increase in...
Will Legal Weed in California Increase Demand for It from Injured Workers?
Nov 21 2016 // Just how legalized weed in California will impact workers’ compensation is still uncertain, but what is certain is that the insurance industry can soon expect to be grappling with issues around paying for marijuana...
Reinsurers Welcome Rate Stabilization: S&P-PwC Bermuda Reinsurance Forum
Nov 18 2016 // North American reinsurers may soon see some rate stabilization after a prolonged period of declining premium rates, as they deal with a supply-demand imbalance that has weighed on returns, according to executives at the...
Will Rising Earthquake Risks in Oklahoma Shake Up the Insurance Market?
Nov 14 2016 // The 5.0 magnitude earthquake that struck near the oil and gas storage hub of Cushing, Oklahoma, on Nov. 6 put the nation on alert to the vulnerability of the country’s oil reserves to the significant increase in...
Will Legal Weed in California Increase Demand for It from Injured Workers?
Nov 10 2016 // Just how legalized weed in California will impact workers’ compensation is still uncertain, but what is certain is that the insurance industry can soon expect to be grappling with issues around paying for marijuana...
Fitch Assesses Election Impact on Health Insurance Market
Nov 10 2016 // The election that saw Donald Trump win the presidency and the Republican Party retain control of both houses of congress will significantly increase the probability of the repeal and replacement of the Affordable Care Act...
China’s Cyber Security Law Could Hamper Foreign Business: P/C Industry Reps
Nov 9 2016 // China’s new wide-ranging cyber security law is drawing some serious apprehension from the U.S. property/casualty insurance industry. Trade associations and experts alike caution that it will create business obstacles...
Midwest World Series Inspires Insurance Industry Charitable Foundation Fundraiser
Oct 31 2016 // The Insurance Industry Charitable Foundation’s (IICF) Midwest Division has launched a World Series-related fundraising effort benefitting regional Community Grants Programs. With World Series excitement mounting...
North Carolina Insurers Want Supreme Court Review of 25% Rate Hike Denial
Oct 24 2016 // The homeowners insurance rate increase disagreement between the North Carolina Department of Insurance (NCDOI) and the insurance industry is not over. The North Carolina Rate Bureau (NCRB), which files rates with NCDOI on...
