Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
InVEST Insurance Education Program Adopted by Chicago High Schools
Aug 19 2014 // InVEST, the insurance industry’s classroom to career education program, announced that all Chicago Public School Career and Technical Education (CTE) finance programs will now offer its curriculum to seniors. The...
Young Agents Rate Flexibility, Career Growth Over Technology: Vertafore Survey
Aug 14 2014 // Technology is not an incentive when it comes to attracting and retaining millennials to the insurance industry but it can provide overall job satisfaction in terms of flexibility and career growth opportunities, according...
Everyone Likes a Hard Insurance Market, Right?
Aug 13 2014 // What’s the big deal with a hard property/casualty insurance market? Everyone likes one, said Art Davis, president of Colony Specialty, a member of the Argo Group. “You make a lot of money, have good...
Fitch Raises Italy Insurance Market Outlook as 1st Half Betters Expectations
Aug 12 2014 // Fitch Ratings has revised its outlook to stable from negative, reflecting expectations that insurers’ profit and capital adequacy will be resilient amid the Italian recession. The outlook also reflects reduced credit...
European Insurance Industry Figures Find ‘Stability & Growth’ from 2003-2012
Aug 8 2014 // Despite the economic upheavals the European insurance industry has maintained a path of stability and growth, even through times of crisis, according to figures released by Insurance Europe, the European insurance and...
Focusing on Disaster Costs Before Rather Than After They Happen
Aug 6 2014 // The United States spends a lot of money responding to natural disasters but comparatively little trying to limit the costs of disasters before they happen. As the costs to the government and the insurance industry mount,...
Insurance Industry Hurricane Tour of Texas Coast to Begin Aug. 18
Aug 4 2014 // The insurance industry wants Texas coastal residents to know about hurricane preparedness and insurance coverage for future hurricanes. The information is offered by a contingent of catastrophic weather experts recruited...
Hartwig Turns Back King Hammurabi’s Playbook on Resilience
Aug 4 2014 // The U.S. government may be starting to embrace concepts that date back to Babylonian King Hammurabi’s reign 3,800 years ago. When President Barack Obama on July 16 issued climate change initiatives on guarding the...
Hartwig Turns Back King Hammurabi’s Playbook on Resilience
Jul 24 2014 // The U.S. government today may be starting to embrace concepts that date back to Babylonian King Hammurabi’s reign some 3,800 years ago. When President Barack Obama on July 16 issued a set of climate change...
Q1 P/C Direct Premium Written Up 3.5 Percent
Jul 21 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record high for the industry. For 2013, total DPW...
McCafferty to Become CEO of UK’s Flood Re: ABI
Jul 18 2014 // A bulletin from the Association of British Insurers announces that “Brendan McCafferty has been appointed CEO of Flood Re, after a selection process run by the Flood Re directors and senior representatives from the...
Senate Passes TRIA Renewal with Broker Licensing Provision
Jul 17 2014 // In a 93-4 vote, the Senate today passed the Terrorism Risk Insurance Program Reauthorization Act of 2014 (S. 2244 ) that extends the federal reinsurance program for seven years. In addition to extending the Terrorism Risk...
Fitch Forecasts Shrinking P/C Insurer Profits
Jul 17 2014 // Fitch Ratings is forecasting that 2014 will end up as the second consecutive year of underwriting profits for the property/casualty industry with modest increase in the combined ratio. But the results for 2014 won’t...
Construction P&C Premiums Slump 10-30% Due to Overcapacity: Willis Report
Jul 15 2014 // “Overcapacity in the international construction, property & casualty markets in the first half of 2014 has resulted in rate reductions of up to 30 percent for commercial insurance buyers,” according to a...
Insurers in Dash for Expertise to Master Cyber Risk Insurance
Jul 14 2014 // Insurers are eagerly eyeing exponential growth in the tiny cyber coverage market but their lack of experience and skills handling hackers and data breaches may keep their ambitions in check. High profile cases of hackers...
Hidden Perils of California’s Proposed Health Insurance Price Controls
Jul 7 2014 // In November, California voters will decide whether to implement state government price controls on health insurance. Insurance agents and brokers are certain to be asked by their clients whether this ballot measure merits...
MAPFRE Insurance Enters Pennsylvania Auto, Home Insurance Market
Jul 3 2014 // MAPFRE Insurance has entered the Pennsylvania insurance market. MAPFRE’s operations in Pennsylvania will be headquartered in King of Prussia and the company will offer private passenger automobile and homeowners...
CGSC Expands Wholesale Brokerage Business in Latin America
Jul 3 2014 // Cooper Gay Swett & Crawford (CGSC), the independent global wholesale and reinsurance broker, announced plans to expand its Swett & Crawford wholesale brokerage business into the Latin American market. The growth...
UN, IIS, Willis Urge ‘Convergence of Communities’ to Face Climate Change
Jul 2 2014 // The third day of the International Insurance Society’s Annual Seminar was an all-day session devoted entirely to the threat posed by climate change, the studies of its risks and the solutions available to face...
Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State
Jun 27 2014 // The share-and-share-alike attitude considered a virtue by some has the potential to create a rift between between ridesharing companies and insurance companies. “We try not to make it a battle,” said Robert...
