Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Taking Care of Business
Jul 6 2009 // Leading Near National P/C Carriers Revealed The original criteria and objective definition for the Near National Property/Casualty Carriers was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech...
P/C Industry Posts $1.3B Loss in Q1; Combined Ratio Up to 102.2
Jul 6 2009 // The property/casualty insurance industry suffered a $1.3 billion net loss after taxes for first-quarter 2009, which constitutes a $9.8 billion adverse swing from the industry’s $8.5 billion in net income after taxes...
Turmoil Breeds Opportunity
Jul 6 2009 // A Golden Moment for the Insurance Industry In a time of financial turmoil, we in the insurance industry have an unprecedented opportunity. As capital providers and risk advisers in a time of scarce capital and huge risk,...
Willis Re Sees Capital Returning to Reinsurance Market; Stable Pricing
Jul 1 2009 // A report from Willis Re indicates that “despite predictions of dramatic rate increases to offset reinsurer losses over the preceding 12 months, July 1 reinsurance renewals saw sufficient capacity in virtually all...
Reinsurance Market Remains Stable; Rates Steady, Reports Guy Carpenter
Jul 1 2009 // Upward pressure on property/catastrophe reinsurance rates in the U.S. eased at the July 1, 2009 renewal, as capacity in the market remained sufficient without being abundant, according to a briefing published today by Guy...
Willis is Positive for Future of Offshore Wind Insurance Market
Jun 25 2009 // A team of Willis Group Holdings has concluded that “insurers are increasingly seeing offshore wind as an attractive investment area with considerable growth potential.” The conclusion comes just ahead of the...
Financial Crisis Poses Greatest Threat to Insurance Industry, Study Says
Jun 23 2009 // The impact of the financial crisis is the most significant risk facing the insurance industry, according to a new report by Ernst & Young. In its second annual business risk report – insurance 2009, model risk...
P&C Insurance Industry Will Be Smaller at End of Financial Crisis
Jun 19 2009 // The property and casualty insurance industry is projected to be smaller, in dollar terms, once the current financial crisis is corrected, according to a leading industry economist. Once the recession finally ends, the...
Plumeri Sees Financial Turmoil as an Opportunity for Insurance Industry
Jun 17 2009 // Willis Chairman and CEO Joe Plumeri, speaking at a conference sponsored by Insurance Day in Bermuda, sees opportunities for the insurance industry in the current financial crisis. In his keynote speech, Plumeri said he...
Aon Calls for Lower Premiums on Greener Business
Jun 17 2009 // In a recent speech to UK risk managers at the Association of Insurance and Risk Manager’s (AIRMIC) conference in Bournemouth, Andrew Tunnicliffe, COO of Aon Global Risk Consulting, called upon the insurance industry...
Obama Administration White Paper Outlines Views on Insurance Sector
Jun 17 2009 // The U.S. Treasury department today issued a white paper entitled, Financial Regulatory Reform: A New Foundation. The following is an excerpt from the report on insurance: Enhance Oversight of the Insurance Sector Our...
Obama Insurance Views Mirror Those of P/C Agents, Insurers, Regulators
Jun 17 2009 // The Obama administration’s views on insurance regulation are in keeping with those of many within the property/casualty insurance industry as well as state regulators who now regulate the industry. Most in the...
People
Jun 15 2009 // Fair Oaks, Calif.-based Insurance Resources Consultants, an IR Group subsidiary, named Richard Rohde executive vice president and senior consultant. He will offer strategic planning and operational improvement consulting...
Risk, Reward and Reflection
Jun 15 2009 // Lessons Gained from the Current Economic Storm The property/casualty business has never been easy. As history shows, the underwriting community has been successful in creating and delivering insurance products that give...
How Actuaries Help P/C Insurers Navigate Uncertain Markets
Jun 11 2009 // Property/casualty insurers and reinsurers rely more than ever on the expertise of actuaries at a point in the cycle when the market is neither softening nor hardening, attendees at the CAS Seminar on Reinsurance were told...
Analysts: P/C Insurers’ Hopes for Hard Market Undercutting Reserves
Jun 10 2009 // Some property/casualty insurers might be in for a rude awakening with respect to their reserve practices, according to industry experts. The property/casualty insurance sector’s ability to properly estimate its loss...
Marsh Warns of ‘Perfect Storm’ in UK Construction PI Insurance Market
Jun 9 2009 // According to Marsh’s London Office, “the UK architectural, engineering and construction sector is facing a ‘perfect storm’ which could leave many firms facing increasing risks at a time when the...
Quality and Protectionism in the Insurance Market
Jun 1 2009 // Why Market Blocking Is Not Best for the Consumer or the Industry The insurance business needs to lose a vestige of the insurance marketplace of the last century. Let’s become more friendly to competition and the free...
Insurance Industry Plays Significant Role in California’s Economy
Jun 1 2009 // The insurance industry plays a significant role in California’s economy, employing hundreds of thousands of workers, investing billions of dollars in state and local governments and paying the fourth largest amount...
How to Re-ignite Producers – and Other Employees – Who Have Lost Their Spark
Jun 1 2009 // Incentive Compensation Focused on Customers, Not Premiums, Works, Consultant Says Al Diamond is one of the country’s best known and respected agency management consultants. His firm, the Agency Consulting Group, is...
