Latest Market Headlines

China Launches Nationwide Insurance Overhaul to Promote Growth

Apr 17 2006 // The China Insurance Regulatory Commission (CIRC) said it will begin thorough investigations into the country’s insurance companies this month to promote the healthy growth of the fledgling insurance market. The...

Jobs and more on the line in R.I. as Beacon Mutual-Carcieri political saga enters critical period

Apr 17 2006 // Executives at Rhode Island’s largest workers compensation carrier, Beacon Mutual Insurance Co., figure they could be looking for new jobs as early as June if Governor Donald Carcieri gets his way. They expect that if...

Editor’s Note: Mississippi in perspective

Apr 17 2006 // The insurance industry will be faced with irate policyholders and on-going court costs-the insurance companies involved, however, have deep pockets and aren’t about to back down without a fight. After the federal...

Closer Look: Insurance Associations

Apr 17 2006 // Editor’s note: This is the second article in a series on Western insurance associations. Part I of this article appeared in the April 3, 2006, western region publication beginning on page 47. As people migrate to the...

Apr 17 2006 // In the past, the agencies each used proprietary formulas to create their own scores, meaning that a lender dealing with a consumer’s application for a credit card or a mortgage might have had to reconcile three...

Fla. Group Applauds Spring Legislative Proposals

Apr 14 2006 // With Spring meetings of the Florida Legislature coming to an end in Tallahassee in May, the Florida Insurance Council has applauded House and Senate leaders for proposals supporters believe will help entice capital into...

Summation of Insurance-Related Bills Speeding Through Fla. Legislature

Apr 14 2006 // With Spring meetings of the Florida Legislature coming to an end in Tallahassee in May, the Florida Insurance Council has summarized insurance-related bills now being considered in the House and Senate. Sam Miller,...

Insurance Industry on Solid Financial Footing, But Overall Results Mask Problems in Certain Lines, Locations

Apr 10 2006 // The property/casualty insurance industry will report an increase in its capital base and an overall profitable performance in 2005, enabling it to meet the insurance needs of the growing U.S. economy, according to...

Malaysia Embarks on 5-Year Plan to Liberalize Insurance Market

Apr 5 2006 // Malaysia to liberalize banking, insurance under five-year plan Received by Newsfinder from AP Mar 31, 2006 5:40 Eastern Time Malaysia will open its banking and insurance sectors to greater competition, including allowing...

Senators Introduce Optional Federal Charter Legislation

Apr 5 2006 // Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators today unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation...

Insurers Well-Braced for Next Big California Earthquake

Apr 3 2006 // When the next big earthquake strikes California, it’s unlikely to hurt the insurance industry as much as the last one did. The nation’s largest property insurers curtailed their exposure to California quakes a...

New uniform credit agencies’ scoring system not likely to impact insurers

Apr 3 2006 // The recent announcement by the three major consumer credit reporting agencies that they have created a new credit scoring system aimed at simplifying the loan process likely will not have a major impact on insurers’...

TDI’s Selden explains department’s high tech, high touch approach

Apr 3 2006 // Texas Department of Insurance Senior Associate Commis-sioner for Consumer Affairs Audrey Selden had a good news/bad news story for the insurance industry when she spoke at the Austin Insurance Day, sponsored in early March...

Mississippi wind versus flood lawsuit remanded back to state court

Apr 3 2006 // A Mississippi lawsuit that would force insurance companies to honor their policies and pay for damage caused by storm surge has been remanded back to the Chancery Court of Hinds County. Because the state is seeking an...

Western insurance associations: How the West is run

Apr 3 2006 // Editor’s note:This is the first article in a series on Western insurance associations. Part II of this article will appear in a future issue. As people migrate to the West to enjoy the weather and opportunities for...

Measuring Risk: Insurers’ day of reckoning arrives

Apr 3 2006 // The threat of more natural disasters could make 2006 a watershed year in how the insurance industry measures risk. With American carriers revamping their reporting and management structures, insurers are expected to...

D&O liability premiums fall for second straight year, study says

Apr 3 2006 // Directors and officers liability insurance average premium continued to decline in 2005, dropping by 9 percent last year after a 10 percent decline in 2004, according to the “D&O Liability 2005 Survey on Claims...

The London insurance market: The City and the regulators

Apr 3 2006 // For 317 years London’s insurance market in general and Lloyd’s in particular has been adapting to changing conditions both locally and globally. It’s never been easy, but the fact that it has happened at...

The London insurance market: The City and the regulators

Apr 3 2006 // For 317 years London’s insurance market in general and Lloyd’s in particular has been adapting to changing conditions both locally and globally. It’s never been easy, but the fact that it has happened at...

News Currents

Apr 3 2006 // “I personally believe insurers would be better off if they had more standardization, much like the banking industry,” Joel Ario, News Currents New uniform credit agencies’ scoring system not likely to...