Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Alternative Capital Softening P&C Reinsurance Market: Towers Watson CFO Survey
Mar 12 2014 // A new survey from Towers Watson confirms that “over half (55 percent) of property & casualty (P&C) insurance chief financial officers (CFOs) believe the property reinsurance market is softer than the primary...
Insurance Company Stability
Mar 10 2014 // Many years ago, a well-known insurance company went from being highly rated to insolvent almost in a fortnight. Most people in the industry older than 50 years old remember that time. The failure was a shock that created...
Labor Study Shows P/C Insurers Plan to Hire, Grow Significantly
Mar 10 2014 // More than half of all insurance companies say they plan to increase staff in 2014, although hiring for the most-in-demand positions may prove difficult. That’s according to the latest Semi-Annual U.S. Insurance Labor...
Tony Markel Leads City of Hope Fund Raising Effort
Mar 10 2014 // Tony Markel was recently honored for his work on a national campaign to raise $1 billion for cancer research. Markel, known as the name and the man behind building Markel Corp. into one of the largest property/casualty...
Brewing Boom
Mar 10 2014 // Microbrewers Make Their Mark The craft beer industry has been chipping away at the U.S. domestic beer market throughout the past decade. And the pace of growth in this specialty niche is not expected to stop anytime...
A Buyer’s Market for Reinsurance
Mar 10 2014 // For insurance companies, now is a good time to buy reinsurance. Prices are down and terms and conditions are favorable, according to Mathew Wulf, vice president, state relations and assistant general counsel, for the...
Travelers, InVEST Team Up to Develop Young Professionals
Mar 7 2014 // The Travelers Cos., in partnership with InVEST, a nationwide school-to-career nonprofit program, is helping to improve insurance and financial literacy in students and attract young talent for the insurance...
The Future of Drones in the Insurance Industry
Mar 7 2014 // After a catastrophe hits, mobile units filled with adjusters are on site to evaluate property damage. Flash forward five years and an insured may never meet the property adjuster handling his or her claim. Instead, a drone...
Private Market Could Grow As Government Flood Insurance Prices Rise: Fitch
Mar 6 2014 // As federal subsidies for flood insurance are reduced and the cost of government provided insurance goes up, the demand for private flood coverage could also rise, according to Fitch Ratings. However, it remains to be seen...
Tony Markel Leads City of Hope Fund Raising Effort
Mar 3 2014 // Prev Next Tony Markel, of Markel Corp., talks about raising funds for cancer research. Tony Markel, of Markel Corp., was honored as national chair of City of Hope’s Power of Hope campaign. Tony Markel was recently...
IronPro Enters Fidelity, Crime Insurance Market
Mar 3 2014 // IronPro, the U.S. professional and management liability unit of Ironshore Inc., is entering the fidelity & crime insurance market with product capacity limits available of up to $30 million. Kevin Finn has been named...
Insurance Units’ Profits Drive Berkshire Hathaway
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
Malaysian Insurance Institute Signs Agreement with Cambodia Insurance Ass’n.
Mar 3 2014 // The Malaysian Insurance Institute (MII) and the Insurance Association of Cambodia (IAC) have signed a Memorandum of Understanding (MoU) for “a bilateral collaboration to forge a beneficial business relationship to...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
Texas Insurer Group Seeks Nominations for Industry Leadership Award
Feb 26 2014 // The Insurance Council of Texas (ICT) is seeking nominations for its annual Raymond Mauk Leadership Award, the council’s highest honor. The award will be presented on July 17, at the annual Mid-Year Property and...
The ‘Switching’ Economy: Consumers to Buy Insurance from Google, Amazon, Verizon
Feb 24 2014 // New global research finds that as many as two-thirds (67 percent) of insurance customers would consider purchasing insurance products from organizations other than insurers, including 23 percent who would consider buying...
Technical and Medical Device Convergence Exposes New World of Risks
Feb 24 2014 // When the acclaimed television drama series Homeland climaxed with a devious plot by terrorists to kill the U.S. vice president by hacking into his electronic pacemaker, critics mocked the ludicrousness of the idea deeming...
Technology’s Opening a Whole New World of Agent E&O Exposures
Feb 24 2014 // Those in the insurance industry have another errors and omission (E&O) risk to consider these days, and they have technology to thank for it. Anyone in the insurance industry that possesses, stores, transmits or...
People
Feb 24 2014 // Laurie Infantino has been named education director of Insurance Journal‘s Academy of Insurance. The insurance education professional will focus on the quality of the instructors and the education content offered by...
Brokers Missing Out on Big Opportunities in Trade Credit Insurance Market
Feb 21 2014 // Agents and brokers who are not selling trade credit insurance – also known as receivables insurance – are missing huge opportunities but also opening themselves up to errors and omission (E&O) exposures, according...
