Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
FERMA Concerned about ‘Excessive’ Solvency II Capital Proposals
Mar 15 2010 // A bulletin from the Federation of European Risk Management Associations (FERMA) notes that while it “supports the goal of the Solvency II European insurance regulatory regime, which is to enhance policyholder...
Who’s Worth What in the Independent Agency System? Join IJ’s Survey
Mar 12 2010 // Once again, Insurance Journal is polling insurance agents and brokers nationwide in its annual search to find out who’s worth what in the independent agency system. The 2010 Agency Salary Survey results will be...
Florida Insurers Pin Hopes on Broad Bill Passed by Senate Panel
Mar 11 2010 // With the prospects for a controversial rate deregulation bill dimmed by Gov. Charlie Crist’s threat of a veto, the insurance industry is betting on a new wide-ranging insurance proposal to bring some reform to...
Uncertainty Pervades the Terrorism Insurance Market
Mar 8 2010 // Threats Rise and TRIA Funding Comes Under Attack The threat of terrorism in the United States is rising, but the future of the Terrorism Risk Insurance Act (TRIA) is in question. At a time when top U.S. officials warn of...
Uncertainty Pervades the Terrorism Insurance Market
Mar 7 2010 // As Threats Rise, TRIA Funding Comes Under Attack The threat of domestic terrorism is rising, but the future of the Terrorism Risk Insurance Act (TRIA) is in question. At a time when top U.S. officials warn of an imminent...
Uncertainty Pervades the Terrorism Insurance Market
Mar 7 2010 // Threats On Rise and TRIA Funding Faces Possible Cutback; Standalone Market Could Gain The threat of terrorism in the U.S. is rising but the future of the Terrorism Risk Insurance Act (TRIA) is in question. At a time when...
State of Challenge: How Florida’s Surplus Lines Agents Are Faring
Mar 7 2010 // Interview with FSLA President Bruce Bowers Weak Economy, Insureds Going Bare, Hungry Admitted Markets and Citizens’ Low Rates Test Agents Hurricane Andrew, for all of the grief it delivered, gave wholesale broker...
A ‘Great Earthquake’ Strikes Chile; Insurance Doesn’t Pose Systemic Risks to the Economy; Berkshire Buys More Munich Re
Mar 7 2010 // February was a short month, but a deadly one. In addition to a massive earthquake in Chile, the Northeastern U.S. was hit by three blizzards; floods and mudslides ravaged the Portuguese island of Madeira and beleaguered...
Ping An Sees No Impact on China Insurance from Prudential/AIG Deal
Mar 5 2010 // Ping An Insurance, China’s No. 2 insurer, said on Friday it was not concerned about a plan by Britain’s Prudential to buy the Asia assets of U.S. insurer AIG, the market leader among foreign insurers in...
Fitch Sees Chile Quake Losses Unlikely to Impact P/C Insurance Ratings
Mar 5 2010 // Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on...
Global Warming Litigation Just Getting Started; Costs Will Be Significant
Mar 4 2010 // Toward the end of 2009, it appeared that a number of issues with the possibility of creating significant political and social changes were on the verge of becoming law before stalling or imploding. One such issue with...
I.I.I.’s Hartwig Contrasts Impact of Chilean, Haitian Earthquakes
Mar 3 2010 // Why was he death toll over 200,000 when an earthquake struck Haiti, while so far less than 1000 people have died from the one that struck Chile, which was approximately 500 times more powerful? One of the answers lies in...
Social Service Organizations in Tough Economic Times
Mar 2 2010 // It’s no secret that nonprofits are feeling the effects of a battered economy. Donations are down. State and federal funding are also down. Insurance providers say they are keeping a close watch on changing exposures...
Celent Releases Report on French Insurance Industry
Feb 26 2010 // Boston-based consulting firm Celent (a part of Oliver Wyman) has been assessing the “subtle but important differences in how insurers from various countries” respond to the issues facing the industry. It has...
ACE Makes Appointments to New Global Client Executive Practice
Feb 22 2010 // The ACE Group has announced its initial executive appointments to its newly-created Global Client Executive team. Those assigned to the team will “work collaboratively with clients and distribution partners in major...
Global Warming Litigation Just Getting Started
Feb 21 2010 // Issue Will Have Serious Implications for Insurance Industry Toward the end of 2009, it appeared that a number of issues with the possibility of creating significant political and social changes were on the verge of...
People
Feb 21 2010 // The Independent Insurance Agents of Texas (IIAT) on Feb. 2 presented its 2010 Independent Leadership Award to Joe Straus III, speaker of the Texas House of Representatives. The Independent Leadership Award was presented...
Private Crop Insurers Oppose Funding Cuts
Feb 21 2010 // The private crop insurance industry is blasting a proposed restructuring in the crop insurance program it says would cut $4 billion — or $800 million a year — over the next five years. The proposal by the U.S....
People
Feb 21 2010 // Salt Lake City-based The Buckner Co. opened a third location in Idaho Falls, Idaho. Douglas Ball, an account executive, will work out of the new office focusing on creating customized, employee benefits packages for Idaho...
Young Agents Survey
Feb 21 2010 // Most enter the insurance business by accident but for young independent insurance agents, the decision to stick with insurance as a permanent career is a matter of choice. A healthy 84 percent of young insurance agents say...
