Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
‘Red Flags’ to Watch For When Choosing an MGA Partner in a Bad — and Good — Economy or Market
May 4 2009 // In today’s tough economy and prolonged soft market, some insurance firms are likely to get into financial trouble. Smaller wholesalers and managing general agencies (MGA) may be at risk. Their ability to stay afloat...
Willis Re, Thomson Reuters Launch Online Catastrophe Price Index
Apr 28 2009 // Willis Re, the reinsurance arm of global broker Willis Group Holdings, and Thomson Reuters today announced the launch of the Willis Re Catastrophe Price Index™ on the Thomson Reuters Insurance Linked Securities...
FERMA Approves EU Parliament’s Solvency II Adoption-With Reservations
Apr 27 2009 // The Federation of European Risk Management Associations (FERMA) has issued a bulletin welcoming the vote of the European Parliament approving the Solvency II Directive, the new supervisory regime for EU insurance companies...
Idaho Cautions Insurance Industry on Misuse of Producer of Record Letters
Apr 24 2009 // Idaho Department of Insurance William Deal is cautioning the insurance industry on the use of producer of record letters. A producer of record letter refers to a written statement signed by an insured advising an insuerer...
Florida’s Property Insurance Market: An Overview by Commissioner McCarty
Apr 24 2009 // It is always interesting, and frequently amusing, to read various “research” pieces on the Florida property insurance market. While I, like every other insurance regulator, industry professional and observer in...
Loezius Wins Insurance Industry Outstanding Achievement Award
Apr 24 2009 // With 50 years of outstanding achievement and dedicated service to the National Association of Insurance Women (NAIW (International)), Martha Loezius was presented the Region VIII – American Association of Managing...
What Young Agents Value About Being Independent
Apr 24 2009 // Good things come to those who wait and work hard. Even in today’s challenging economic climate, young independent insurance agents remain hopeful and happy to be in a profession that allows them to work...
Oklahoma Consumer Group Blasts Lawmakers, Health Insurers
Apr 23 2009 // An advocacy group criticized Oklahoma legislative leaders on April 21 for what it described as a host of bills that help the health insurance industry at the expense of consumers. Dr. Rene McNall Knapp, who specializes in...
Risk Managers Report ‘Soft Landing’ for Market Pricing
Apr 21 2009 // Insurance premiums for businesses continued to slide towards a “soft landing” rather than an abrupt reversal resulting in rate increases, according to risk managers. While banks and other financial institutions...
The Freedom to Grow
Apr 20 2009 // What Young Agents Value About Being Independent Profile of Young Agents Older Side of Young 62% are 31 to 40 years old 38% are 30 and under Career Choice 84% consider insurance to be a permanent career choice 14% are...
A New York State of Mind
Apr 20 2009 // Superintendent Eric Dinallo Redefines the Role of Regulator in the Insurance Industry New York Insurance Superintendent Eric Dinallo was thrust into the national spotlight last year as the insurance industry’s...
People
Apr 20 2009 // Ron Wright, chief operating officer of Texas Mutual Insurance Co. since 1997, is set to become president and CEO of the company effective Sept. 1, 2009. Wright will succeed Russell R. Oliver, who announced his retirement...
Frequency Down but Severity Still a Problem for Medical Liability Insurers
Apr 20 2009 // Like just about any company anywhere on earth, medical liability insurers lost money on their equity investments in 2008 due to the meltdown in the U.S. and worldwide economies in the latter half of the year. However, for...
P/C Insurers Profitable in 2008 Despite Big Hits From Catastrophes, Financial Crisis
Apr 20 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
Arizona Association Offering College Scholarships
Apr 17 2009 // The Arizona Chapter of the CPCU Society (Chartered Property Casualty Underwriters) is sponsoring scholarships to be awarded to graduating high school students and college/university students currently taking insurance...
Lloyd’s Opens First Office in Brazil
Apr 17 2009 // Lloyd’s opened its office in Brazil on Thursday, April 16, a year after receiving approval from the Superintendence of Private Insurance (SUSEP) to become the first admitted reinsurer in the country. Lloyd’s...
Hawaii Commissioner: State Based Insurance Regulation Works
Apr 13 2009 // There’s a need for state-based insurance regulation, according to Hawaii Insurance Commissioner J. P. Schmidt. Speaking to professors and experts in finance from around the world in his keynote speech at the 16th...
S&P: Global Risks Mean Some Changes in Store for P/C Insurers
Apr 10 2009 // In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some...
P/C Insurers Profitable in 2008; Take Hit From Catastrophes, Financial Crisis
Apr 9 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
People
Apr 6 2009 // The Professional Insurance Agents of Connecticut Inc. (PIACT) elected new officers. They are: President James Goodman, who is president of Goodman Insurance Inc. in Shelton; President-elect Howard Olderman, who is...
