Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
10 Things that May (or May Not) Happen with the Insurance Industry in 2024
Jan 18 2024 // This post is part of a series sponsored by AgentSync. AgentSync’s partially humorous take on industry prognostication It wouldn’t be December without a new crop of industry prophecies for the coming year, now...
Prepare for the Soft Market: Why You Need to Set Performance Metrics Now
Jan 11 2024 // Executive Summary: Companies need to enact long-term performance measurement and strategies for underwriting discipline across the underwriting cycle because evidence suggests underwriters will not impose it themselves,...
Insurance Industry Charitable Foundation Names Markel’s Wendy Houser Chair of the IICF International Board of Governors
Jan 10 2024 // NEW YORK (January 9, 2024) –The Insurance Industry Charitable Foundation (IICF), a nonprofit organization dedicated to helping communities and enriching lives, today announces that Wendy Houser, Chief Wholesale Officer...
Viewpoint: Cyber Insurance Market Themes to Look Out for in 2024
Jan 9 2024 // After my (relatively) successful effort in looking at 2023 cyber insurance themes, like a gambler on a streak of beginner’s luck, I wanted to have another roll of the dice in offering my thoughts on cyber insurance...
Navigating the Hard Market: 4 Strategies for Brokers to Contend with Constraints in Gulf Coast States Property Insurance
Jan 8 2024 // This post is part of a series sponsored by IAT Insurance Group. U.S. coastal areas, particularly Gulf Coast states like Florida, Louisiana and Texas, have been hit hard in the past decade by climate change-related natural...
Turkey Earthquake Tops 2023 Insurance Industry Losses Outside US: CRESTA
Jan 2 2024 // The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an industry loss of US$5.8 billion, the largest ever cat loss for the Turkish insurance market,...
Dyad Brand Launches to the P/C Insurance Market
Jan 2 2024 // Dyad, Inc., formerly XDimensional Technologies and I-Engineering, a provider of insurance software and services backed by Serent Capital, has launched today following XDimensional Technologies’ acquisition of...
Litigation Abuse, Regulation, Hard Market Among Insurance Trades’ Priorities for 2024
Dec 27 2023 // Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2024? Here are the responses we received: In the coming year,...
From Litigation to Capital, Florida Insurance Market Improving, Panelists Say
Dec 18 2023 // The Florida property and casualty insurance market is not out of the woods but it is showing signs of progress, from litigation trends to capital investments in the state, according to almost two dozen people who spoke at...
US P/C Industry Turns in $32.2B Underwriting Loss After 9 Months
Dec 8 2023 // U.S. property/casualty underwriting results deteriorated during the first nine months of 2023 to a loss of $32.2 billion. The result, highlighted in short financial review from AM Best, is $7.6 billion worse than the same...
Insurance Industry Charitable Foundation Raises Record $1.43 Million for Regional Nonprofits at 17th Annual Northeast Benefit Event
Dec 8 2023 // Liberty Mutual Honored with Double I Award for Philanthropic Influence and Impact NEW YORK (November 30, 2023) –The Insurance Industry Charitable Foundation (IICF), a nonprofit organization dedicated to helping...
Reinsurance Market Outlook ‘Stable’ on Improved Rates, Higher Demand: AM Best
Nov 30 2023 // Substantial rate improvements, higher attachment points and rising investment income are combining with increased demand for reinsurance cover to create a stable outlook for the global reinsurance sector, according to AM...
Unlocking the Future: Remote Work’s Impact on the Insurance Industry
Nov 16 2023 // This post is part of a series sponsored by AgentSync. The concept of working from home isn’t entirely new. In fact, it’s been around since well before the digital age, although most “work from home”...
Despite Hard Market, P/C Combined Ratio Forecast Near 104 for 2023
Nov 6 2023 // Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance...
Hurricane Otis’ Impact on Mexico Insurance Industry Expected to Be ‘Controlled’: Fitch
Nov 2 2023 // Fitch Ratings expects Hurricane Otis’ effects on Mexico’s insurance industry to be controlled and within its current ratings expectations, the agency said in a statement on Wednesday. “Fitch Ratings...
Otis Likely to Be One of Costliest Hurricanes for Mexico Insurance Market: Gallagher Re
Oct 30 2023 // Hurricane Otis is expected to be one of the costliest natural catastrophe events in Mexico’s history with initial economic losses expected to top US$10 billion, according to Gallagher Re. Further, insured losses are...
Viewpoint: Get Ready Now for the Soft Market (Because It’s Coming)
Oct 24 2023 // Executive summary: Tony Buckle and John Carolin, co-founders of the boutique insurance consultancy UWX, analyze underwriter motivation during the soft phase of the market cycle. While average market prices are the hardest...
Insurance Industry Should Expect $130 Billion in Catastrophe Losses Every Year: Verisk
Oct 2 2023 // Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of much more than that every year, according...
Should the Insurance Industry Care About SEO?
Oct 2 2023 // Search Engine Optimization (SEO) can feel like a moving target and is often misunderstood throughout the insurance industry. Many businesses do not fully understand the importance of SEO or how it works, which leads to an...
California Commissioner Wants FAIR Plan Changes, Modeling to Improve Insurance Market Conditions
Sep 22 2023 // California Insurance Commissioner Ricardo Lara announced a package of sweeping executive actions that include changes to the FAIR Plan, new rules for the review of climate catastrophe models, and public meetings exploring...
