Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Ohio Agents Sponsor 2008 Insurance Career Internship Program
May 30 2008 // The Professional Insurance Agents Association of Ohio, Inc. (PIA) Internship Program, recently announced that its 2008 program for insurance industry interns was operational. On May 28 the PIA welcomed 12 interns hosting a...
RMS Attends Chinese Regulatory Conference to Promote Data Standards
May 30 2008 // In the wake of the devastating Sichuan earthquake, representatives from The China Insurance Regulatory Commission (CIRC), Risk Management Solutions (RMS), and China’s Institute of Engineering Mechanics (IEM) met with...
Report: Technology Critical for Insurers Targeting ‘Millennial Generation’
May 30 2008 // As the estimated 80 million people born between 1981 and 2001 enter the workforce and become active consumers, technology will play a critical role for insurance firms targeting those in the so-called “millennial...
FBI Says Fighting Financial Crimes a Priority; Insurance Cases Top 200
May 23 2008 // The Federal Bureau of Investigation pursued 529 financial crime cases in its most recent fiscal year, including 209 insurance fraud cases. During it fiscal year 2007, the 209 insurance fraud cases investigated by the FBI...
Insurance Industry Celebrates Women’s Achievements
May 21 2008 // May 18-24, 2008, marks National Insurance Women’s Week, a celebration recognizing the contributions women are making in all areas of the insurance industry. The National Association of Insurance Women began NAIW Week...
Insurer Executives Say More Can be Done to Attract New Talent
May 19 2008 // Encompass, The Hartford execs note that agents stand on solid ground in their role as trusted advisors Young agents today face a number of challenges, including the soft market, a downturn in the economy, and learning the...
Alabama Opens Coastal Home Insurance Market to Captive Insurers
May 19 2008 // The Alabama Legislature has passed a bill that will allow captive insurance companies to sell residential insurance along the Alabama coast. The House and Senate voted without dissent to give final approval to changes in...
Insurance Industry: One Cog in the Cargo Theft Prevention Machine
May 19 2008 // Supply chain players advised to combine strategies for a multi-level solution to loss control While cargo theft can affect every sector of the supply chain, competing interests among the various players in the chain can...
People
May 19 2008 // Charlotte, N.C.-based national wholesale insurance broker AmWINS Group Inc. named James Drinkwater president of its AmWINS Brokerage division. He will be responsible for the management of the division, which is focused on...
Innovation Necessary for Insurance Industry
May 19 2008 // As the insurance industry continues to be challenged with softening rates and premiums, innovation is key to long-term success, according to Julie K. Davis, executive vice president for Aon Corp.’s Wired for Growth...
Insurance Industry Celebrates Women’s Achievements
May 19 2008 // Fortune 500 companies with the highest representation of women board directors have significantly higher financial performance, on average, than companies with the lowest representation of women board directors, according...
Study: Moderate Income Households an Untapped Insurance Market
May 15 2008 // Many low- and moderate-income households need more insurance and want to know more about it, according to a recent study by the Federal Reserve Bank of Chicago. Overall, these consumers hold positive views about insurance,...
Oracle Buy of AdminServer Seen Triggering Insurance Tech Mergers
May 14 2008 // Software maker Oracle said it has agreed to acquire AdminServer, a Chester, Pa.-based provider of insurance policy administration software. The move has some analysts predicting a wave of mergers among technology firms...
California Forecasts Stability in Workers’ Comp Insurance Market
May 13 2008 // California Insurance Commissioner Steve Poizner announced that, for the first time in six years, an interim pure premium rate advisory will not be issued by his office because of market strength. In the past, the insurance...
Execs Say More Can Be Done to Attract New Industry Talent
May 8 2008 // Young agents today face a number of challenges, including the soft market, a downturn in the economy and learning the skills necessary to become a profitable and successful agent, while the industry continues to struggle...
Top Agencies Have Strategies to Weather Soft Market
May 7 2008 // Insurance Journal readers were reminded by our recent coverage on how agents are faring in the recession that the effects of the economic downturn vary by agency and region. Some agencies and customers are feeling the...
Okla. Lawmaker with Ties to Industry Blocks Insurance Bills
May 6 2008 // An Oklahoma lawmaker who has blocked legislation that would require health insurers to cover a variety of medical procedures and conditions has accepted thousands of dollars in donations from individuals or political...
People
May 5 2008 // Patrick G. Ryan, founder and executive chairman Aon Corp., said he intends to retire Aug. 1, 2008. Ryan said the firm’s transition to a new management team under CEO Greg Case is complete. Ryan founded Aon, which has...
Consumer Federation Says Prior Approval Works, Industry Says Not True
May 5 2008 // A nationwide consumer study of automobile insurance regulation says rates have risen more slowly in the 15 states that require insurers to receive advance approval of rate increases from the state in the past two...
A Soft Market Solution: MGAs and Risk Sharing
May 5 2008 // Part1: Retaining limited underwriting risk could offer MGAs a way to bolster revenue Editor’s Note: The following is part one of a discussion of the risk retention options available to MGAs, the sundry variables...
