Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
People
Jul 4 2005 // Columbus, Ohio-based Grange Insurance has promoted Alan D. Brannan to the new post of president of property/casualty for the Grange Mutual Casualty Group. In his new role, Brannan will oversee all property/casualty...
People
Jul 4 2005 // Joe Grauwiler has been named regional vice president of The Main Street America Group’s Jacksonville Region and president of its Old Dominion Insurance Co. unit. The region encompasses Main Street America’s...
News Briefs
Jul 4 2005 // ACIC OPPOSES CREDIT BILL: The Association of California Insurance Companies is opposing legislation which would eliminate rather than regulate credit-based insurance scoring, according to ACIC President Sam Sorich. The...
News Briefs
Jul 4 2005 // ACIC OPPOSES CREDIT BILL: The Association of California Insurance Companies is opposing legislation which would eliminate rather than regulate credit-based insurance scoring, according to ACIC President Sam Sorich. The...
Insurers Holding the Price Line–For Now
Jul 4 2005 // The insurance industry is entering a soft market, but unlike earlier soft markets, carriers have not cut prices to gain market share. Numerous life, property/casualty and reinsurance executives say that underwriting...
Record-Breaking 2004 Hurricane Season to Change Cat Modeling
Jul 1 2005 // The 2004 hurricane season has led to a much greater focus on aggregate risk and this will prompt changes in catastrophe risk assessment, attendees at the Casualty Actuarial Society (CAS) Spring meeting heard. Randall...
Treasury Report on Terrorism Insurance: Exec Summary
Jun 30 2005 // The following is the Introduction and the Executive Summary of the June 30, 2005 report from the Treasury Department on the Terrorism Risk Insurance Act of 2002 including its assessment of the act and recommendations for...
Businesses Hit Treasury Terrorism Insurance Report
Jun 30 2005 // The business lobby, Coalition to Insure Against Terrorism, is blasting as “flawed” and illogical the Treasury Department’s report recommending against renewal of the federal Terrorism Risk Insurance Act...
Hurzeler Receives IMCA Golden Torch Award at Annual Meeting
Jun 28 2005 // The Insurance Marketing Communications Association (www.imcanet.com) on Tuesday awarded Donald Hurzeler its Golden Torch Award in recognition of his lifelong contributions to the insurance industry. The presentation was...
AIIA Conference: Bell Calls Market ‘Impressive’; Rowe Says Response, Timing Are Critical
Jun 27 2005 // The Alabama insurance market is “impressive” and the state has a “healthy market, trending upward,” Alabama Insurance Commissioner Walter A. Bell told members of the Alabama Independent Insurance...
Report: U.S. Reinsurance Market Posts 105.5% Combined Ratio in 2004
Jun 23 2005 // Forty reinsurance companies reported net written premiums of $30.1 billion for 2004, showing a combined ratio of 105.5 percent in the Reinsurance Association of America’s “Reinsurance Underwriting Review: 2004...
News Briefs
Jun 20 2005 // MASSACHUSETTS CAR NAMES COMMERCIAL CARRIERS: Commonwealth Auto Reinsurers has advanced its new commercial auto limited servicing carrier program by selecting the six carriers that will service this residual market business...
Editor’s Note: Fearless Marketing
Jun 20 2005 // Few professionals understand more than insurance agents how unprepared Americans can be for life’s dangers. A new survey confirms agents’ fears about their own customers. It shows ours to be a nation of...
What is Finite Risk Reinsurance? A Definitive Explanation
Jun 20 2005 // Recent insurance industry investigations have begun to put prior finite reinsurance transactions under a microscope which creates the need to re-examine this reinsurance product, but more importantly determine its role in...
FAIA Celebrates Its 101st Anniversary: General Session Features Four Experts
Jun 20 2005 // The Florida Association of Insurance Agents will celebrate its 101st anniversary during its June 23 to 25 Convention and Educational Symposium at the Gaylord Palms Resort and Convention Center in Orlando, Fla. “I...
Bringing It All Together: Q&A on Microsoft’s ‘experience Insurance’ Initiative
Jun 20 2005 // At last month’s ACORD LOMA Insurance Systems Forum in Lake Buena Vista, Fla., Microsoft announced its new “experience Insurance” Initiative, designed to help insurance companies differentiate their brand,...
Wharton Study Finds Agents, Brokers Play Critical Role in Buying Process
Jun 20 2005 // Contingent commissions based on insurer profitability align the interests of independent agents, brokers and the insurer so correct pricing of policies is achieved, thereby alleviating adverse selection, reports a new...
PCI Reports Mixed Emotions on Key Mass. Bills
Jun 14 2005 // The Property Casualty Insurers Association of America (PCI) expressed mixed emotions Tuesday concerning numerous insurance-related bills that were introduced in the Massachusetts Legislature’s Financial Services...
GE Solutions Publishes Study of German Reinsurance Market
Jun 8 2005 // GE Insurance Solutions and the Institute of Insurance Economics of Switzerland’s University of St. Gallen have issued a joint study of the German reinsurance market from the point of view of the buyer, the primary...
Wharton Study Finds Agents, Brokers Play Critical Role in Buying Process
Jun 8 2005 // Profit-based contingent commissions align the interests of independent agents and brokers and the insurer so that correct pricing of policies is achieved, thereby alleviating adverse selection, reports a new study by two...
