Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Soft Market Persists; Fierce Competition to Continue into 2011: Marsh
Nov 1 2010 // Soft commercial insurance market conditions persisted through the third quarter of 2010, with lower rates on average across major coverage lines, according to a new report from broker Marsh. Intense competition and...
Lockton: Commercial Lines Capacity ‘Remains Plentiful’
Oct 29 2010 // Underwriting capacity remains plentiful across most lines of commercial insurance and there are no significant insurance coverage restrictions, despite major losses associated with the Deepwater Horizon spill and the...
Munich Re Sees Growth in Renewable Energy; Comments on Renewals
Oct 26 2010 // According to a report from Munich Re, “renewable energies are gaining in significance.” The reinsurer noted that “the share of renewable energies in power generation in Germany is expected to increase...
Insurance Industry Unveils Massive $40 Million Disaster Research Center
Oct 20 2010 // A major research arm of the property insurance industry used giant fans to blow down a two-story, Midwestern-styled house yesterday as part of an unveiling ceremony for a massive new research facility in South...
Insurance Industry Volunteer Week Underway in Tri-State Region
Oct 20 2010 // A weeklong insurance community involvement campaign kicked off over the weekend: The Insurance Industry Charitable Foundation’s (IICF) Volunteer Week. Begun on the West Coast 13 years ago, Volunteer Week is new to...
Aon Sees Catastrophes, Consolidation, Regulation in Asian Re Market
Oct 19 2010 // Aon Benfield launched a market update for the key Asia Pacific reinsurance hubs of Australia/New Zealand, Japan, Singapore and China at the recently concluded East Asian Insurance Congress (EAIC) in Bali. The announcement...
Washington Regulator Calls Denying Insurance to Children Illegal
Oct 19 2010 // Washington Insurance Commissioner Mike Kreidler has ordered Regence BlueShield to stop illegally denying insurance to children. Last week, the company had announced it was going to stop selling insurance to...
Declarations
Oct 18 2010 // Pricing Worries Persist “There are clear concerns surrounding pricing in this soft P/C insurance market. And, there appear to be indications that this market will persist over the nearer-term.” —Scott...
Declarations
Oct 18 2010 // Inflationary Increase “The previous $15 million capital and surplus requirement has been in place since the ’90s, so is not near as meaningful in guaranteeing financial solvency of surplus line insurers today....
The Power of More
Oct 18 2010 // Why the Time is Right for Agency Networks They go by many names — networks, alliances, franchises, clusters and aggregators — but all have similar goals. Aggregator groups have been around the insurance industry for...
Soft Market Persists; Fierce Competition to Continue into 2011: Marsh
Oct 14 2010 // Soft commercial insurance market conditions persisted through the third quarter of 2010, with lower rates on average across major coverage lines, according to a new report from broker Marsh. Intense competition and...
Clock is Ticking on Surplus Lines Tax Reform
Oct 12 2010 // The insurance industry called the passage of the Wall Street Reform & Consumer Protection Act on July 21, 2010, a “big win” thanks to provisions in the massive reform bill that would modernize regulation...
Consumer Group Criticizes Calif. Insurance Commissioner Candidate Villines
Oct 7 2010 // A consumer group is criticizing Calif. insurance commissioner candidate Mike Villines for supposedly taking $ 66,950 from insurance sources despite a pledge not to take money from the industry. Consumer Watchcdog says...
Survey: Execs Still Concerned Over Profitability, Double-Dip Recession
Oct 7 2010 // U.S. insurance executives report that despite improving market conditions, they remained concerned about their company’s performance and the industry’s ability to generate underwriting profit amid continuing...
Florida Medical Malpractice Insurance Market Found in Good Health
Oct 6 2010 // Medical malpractice insurers writing in Florida earned an average return on surplus of 6.6 percent in 2009, their sixth straight profitable year, although their profits were lower than in 2008. That’s one of the news...
The Future for Independent Insurance Agencies
Oct 6 2010 // I believe the future of independent insurance agencies is at a tipping point. A number of forces are pushing agencies toward the precipice of major change. A few of those forces include: legislation, case law, the Web,...
Lower Corporate Taxes Could Help Preserve London’s Competitiveness
Oct 5 2010 // The City of London is just emerging from the recession brought on by the financial crisis, but it’s “clear there are numerous challenges ahead if it is to retain its global importance as a center for financial...
Learn the Secrets of Building Your Insurance Business in a Soft Market
Oct 4 2010 // The Remarkable Story of Travel Guard International in a Conversation with John Noel. The September 11th tragedy and the ensuing global economic and travel downturn made the years 2001-2004 some of the worst in the history...
Stronger Economic Times Add to Recruitment Challenges
Oct 4 2010 // People are a company’s greatest asset. Yet finding the right people is often challenging, particularly in the insurance industry. While the economic downturn put a hold on hiring for many firms, the seemingly steady...
New York Insurance Exchange Plan Hinges on Industry Support
Oct 4 2010 // Shifting Political Winds, $25 Million Price Tag Create Hurdles New York regulators say the plan to re-launch a Lloyd’s-style exchange in the city is forging ahead, but they’re looking to hand the reins to the...
