Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
HAWAII LEGISLATURE TO STUDY NCOIL P/C MODERNIZATION ACT:
Jun 6 2005 // “Hawaii’s legislative decision to conduct a study of the NCOIL Property/Casualty Insurance Modernization Act suggests that the state legislature is committed to making strides toward rate modernization, which...
Killer Tsunamis and the Marine Insurance Market
Jun 6 2005 // Early in the morning on Dec. 26, 2004, opposing subterranean tectonic plates deep beneath the Indian Ocean floor shifted in violent unison along a line about 300 miles long. The energy released was on par with a 50-kiloton...
People
Jun 6 2005 // Kirk A. Sexton has been promoted to chief information officer of Unisource Administra-tors Inc., a workers’ compensation third-party administrator providing integrated claim management and loss prevention solutions....
Excess Capital: Too Much of a Good Thing?
Jun 6 2005 // As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults....
News Briefs
Jun 6 2005 // AIA OPPOSES CALIF. BILL TO LIMIT HOME INVENTORIES: A bill approved by the California Senate May 25 that prevents insurers from requiring claimants to itemize personal property lost in a disaster is well intended, but will...
News Briefs
Jun 6 2005 // AIA OPPOSES CALIF. BILL TO LIMIT HOME INVENTORIES: A bill approved by the California Senate May 25 that prevents insurers from requiring claimants to itemize personal property lost in a disaster is well intended, but will...
Excess Capital: Too Much of a Good Thing?
Jun 6 2005 // As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults....
KFF: Medical Malpractice Claims Stable; FTCR Reports Time to Focus on Insurers’ Practices
May 31 2005 // The chief argument for legislation to limit the legal rights of patients injured by a physician – that the number of medical malpractice claims and the cost of those claims have been skyrocketing – is a...
N.J. Insurance Fraud Unit Itself Target of Probe Over Employee Payroll
May 31 2005 // New Jersey’s award-winning office created to root out insurance fraud is under scrutiny itself, with the state auditor probing allegations the insurance industry was billed about $4 million for employees who never...
PIA Panelists Discuss Preparing for Hurricane Season
May 26 2005 // Florida’s insurance industry survived last year’s record-breaking hurricane season and is prepared to help homeowners weather what may come this year. That was the message during a recent web broadcast carried...
Best Affirms Aioi ‘A’ Rating
May 25 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A” (Excellent) of Japan’s Aioi Insurance Company Ltd. with a stable outlook. “The rating reflects Aioi’s...
Travel Wallets Expand as Americans Spend More than $1 Billion a Year on Trip Insurance
May 25 2005 // The first ever Travel Insurance Market Survey, conducted on behalf of the U.S. Travel Insurance Association (UStiA), revealed that Americans spent more than $1 billion on travel insurance last year. According to the...
R&M Reports on FSA Regulation
May 24 2005 // Dublin-based Research and Markets announced the addition of “FSA Regulation — A Summary of Insurance Distribution” to their offering.” The report examines the distribution of general insurance...
S&P Report: Negative Outlook on Swiss Insurance Market Continues
May 24 2005 // Standard & Poor’s Ratings Services said in a recently published report that it has maintained its negative outlook on the Swiss insurance sector for both property/casualty and life. The report, “Swiss...
Garamendi Accuses Insurance Industry of Racial Discrimination
May 23 2005 // Two associations have responded to Commissioner John Garamendi’s recent accusations that the insurance industry’s rating practices are “blatantly discriminatory” and based on ethnicity....
JLT Warns Brokers and Underwriters to Invest in Client Industry Expertise and Technical Resources
May 23 2005 // Mike Hammond, the CEO of Jardine Lloyd Thompson Risk Solutions Ltd., told delegates at a conference in Lugano, Switzerland, that the “insurance industry must invest in the necessary technical skills if it is to...
PIFC: California Commissioner’s Proposed Homeowner Regs Flawed
May 23 2005 // There is not one statute in the entire Insurance Code of California that authorizes the insurance commissioner to adopt a proposed set of homeowners’ insurance regulations submitted to the Office of Administrative...
Excess Capital: Too Much of a Good Thing?
May 23 2005 // As capital accumulates on insurers’ balance sheets, carriers are figuring out what to do with it–if anything at all. The industry is flush with cash after a long hard market and lower corporate bond defaults....
Nearly Half of Large, Mid-sized Businesses Purchased Terrorism Insurance in 2004
May 23 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Meanwhile, the cost of property terrorism...
Is it Time to Sell the Agency? Three Factors to Help You Decide ….
May 23 2005 // Many owners have at one time or another thought about selling their insurance agency or brokerage. Many were tempted but never quite took the plunge. Those who didn’t sell most likely were making too much money at...
