Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
AAMGA Meeting <em>LIVE</em>: Dealing With Ups and Downs; <em>IJ</em> Reports on Twitter, Facebook
May 18 2009 // Managing general agents have a positive attitude about the soft market and recession, figuring what went down must come up again, according to Curtis Anderson, incoming president of the Association of Managing General...
Best Analyzes Economic Issues Facing Europe’s Insurance Industry
May 18 2009 // In a recently published special report from BestWeek, A.M. Best analyzes the relative economic strength Europe’s 10 largest insurance groupsand the top five European reinsurers. “Ever since American...
Declarations
May 18 2009 // ‘We are lucky.’ —Warren Buffett, as he addressed thousands of shareholders at Berkshire Hathaway’s annual meeting in his hometown of Omaha, Neb., on May 2. He said insurance, along with utilities,...
Outside the Beltway-Big ‘I’ CEO on Carrier Relations, AIG and Agent Grassroots
May 18 2009 // Bob Rusbuldt, president and CEO of the Independent Insurance Agents & Brokers of America (Big “I”), sat down with Insurance Journal‘s Andrew Simpson at the association’s recent legislative...
Capital, Capital, or Where Did All the Money Go?
May 18 2009 // At least the global depression has focused people’s minds on some important issues. The Group of 20 (G20) meeting in London acknowledged the need for more capital to shore-up the world’s financial system...
6 Steps For Agents to Take Before Soft Market Hardens
May 11 2009 // Most insurance professionals detest a soft market due to the increase in competition, unreasonably low pricing and increased market vulnerability. Some, however, may appreciate a softening precisely because of the change...
Conning Study Examines P/C Insurance Industry Outsourcing
May 5 2009 // A new study by Conning Research and Consulting notes that the “property-casualty industry has been offshoring business processes since the Y2K fixes of the late 1990s, and a combination of continuing expense...
‘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...
