Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
National Interstate Enters Ambulance Insurance Market
May 18 2011 // National Interstate Insurance Co., a provider of transportation insurance, has entered the ambulance insurance market through a relationship with McNeil & Company, Inc.. The Ambulance Services Insurance Program (ASIP)...
Americans Oppose Accident Response Fees: Insurance Industry Survey
May 18 2011 // Sixty-eight percent of adults oppose local governments charging accident response fees to individuals involved in traffic accidents, according to a new insurance industry survey. The Insurance Research Council (IRC) survey...
Florida Gov. Scott Signs Property Insurance Cost Control Bill
May 17 2011 // Florida Gov. Rick Scott has signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. While the memory of former Governor Charles...
Australia Flood, Cyclone Claims Assessments near Completion Says ICA
May 17 2011 // According to a bulletin on its web site, the Insurance Council of Australia has released updated figures on “how the general industry has responded to the enormous task of assessing over 118,000 insurance claims...
Claims Journal Names Johnson Associate Editor
May 16 2011 // Wells Publishing Inc., publisher of Insurance Journal, Claims Journal and MyNewMarkets.com, recently hired Denise Johnson as associate editor of Claims Journal. Johnson’s background includes various claims positions,...
Risky Business: Insurance Industry Entering ‘New Era’ of Catastrophes
May 16 2011 // Given the recent flooding, hurricanes and earthquakes, it appears the number of catastrophic events that inflict mass casualties and severe economic losses has increased – so much so that Dr. Erwann Michel-Kerjan,...
People
May 16 2011 // Marsh & McLennan Cos. appointed Daniel S. Glaser to the newly created position of group president and CEO. Glaser previously had been chairman and CEO of Marsh. He will continue to report to Brian Duperreault,...
Florida Lawmakers Approve Property Reform
May 16 2011 // In the closing days of Florida’s legislative session, lawmakers approved a bill that addresses sinkhole claims and a number of other property insurance issues. In addition to redefining sinkhole losses, the measure...
Changes on the Playing Field; P&C Insurers Question Impact of New Regulations
May 11 2011 // The European insurance industry is becoming increasingly aware that the Solvency II regulations, which are scheduled to take effect as of January 1, 2013, will not only impose a different set of rules for the industry, but...
Risky Business: Insurance Industry Entering ‘New Era’ of Catastrophes
May 10 2011 // Given the recent flooding, hurricanes and earthquakes, it appears the number of catastrophic events that inflict mass casualties and severe economic losses has increased — so much so that Dr. Erwann Michel-Kerjan,...
Florida Approves Property Insurance Reform
May 9 2011 // Homeowners’ insurers in Florida are breathing a sigh of relief after succeeding in a months-long battle to obtain property insurance reforms designed to reduce costs and stabilize the market. After watching state...
$11M in Calif. Insurer Investments Go to Underserved Communities
May 4 2011 // Insurance Commissioner Dave Jones and Speaker John A. Pérez announced that $11 million in new insurance company investments will benefit underserved communities across California. In February, the commissioner sent a...
Japan Quake Reveals Cracks in Insurance System
May 2 2011 // Michael Korn, managing principal at Integro Insurance Brokers, is a popular person these days, which is perhaps not too surprising considering he is an insurance broker in earthquake-prone San Francisco. “We’re...
Separating Myths from Facts on Florida’s Citizens
May 2 2011 // Currently, Florida’s legislature is considering a proposal that will help restore health to Florida’s insurance market. As the proposal moves forward, it is worth separating the myths from the facts on the...
100 Years of Relationships
May 2 2011 // Fourth Generation Family Owned Moreton & Co. Honors Traditional Values Top 100 Agency Profile Rank: No. 18* Agency Name: Moreton & Co. Main Office: Salt Lake City, Utah Additional Locations: Sandy, Utah; Boise,...
Young Agents Survey Shows Strong Family Ties
Apr 28 2011 // Bryan Hanes grew up in the family business listening to stories about life in a small town. He heard his grandfather and then father sharing cheerful conversations with local towns folk about personal relationships, local...
Global Reinsurers at ‘Critical’ Point, Says Best’s Report
Apr 26 2011 // A new special report, compiled by A.M. Best, concludes that the string of major catastrophes, a persistent soft market and the near exhaustion of excess reserves have placed global reinsurers at a “critical”...
How P/C Insurance Industry Fared Financially in 2010
Apr 20 2011 // U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5...
Young Agents look for opportunity… and a future
Apr 20 2011 // Come along for a ride with me… or better yet, join me for a cup of coffee in my office, as we discuss articles from the April 4th issue of Insurance Journal magazine about Young Agents and the industry’s...
P/C Insurers Keeping an Eye on Congress
Apr 20 2011 // While lobbyists see few direct threats to the property/casualty insurance industry in the current Congress, P/C insurers have been advised to remain vigilant because several issues that could have a spillover effect on...
