Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
PIFC: Garamendi’s Proposed Homeowner Regs Flawed
Apr 29 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...
R&M Reports on Global Insurance Market Regulators
Apr 28 2005 // Dublin-based Research and Markets has announced the addition of a study on Global Insurance Regulators to their offering. “Rapid growth in financial services regulation in many countries has led to demand for high...
CAS Talks Mergers and Acquisitions, Finite Insurance at Phoenix Meeting
Apr 28 2005 // The actuarial role in mergers and acquisitions and the future of finite insurance will be among the topics featured at the Spring Meeting of the Casualty Actuarial Society (CAS), May 15-18, at The Pointe South Mountain...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage, Marsh Study Finds
Apr 28 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...
Best: U.S. P/C Industry Notes First Underwriting Profit Since ’78
Apr 25 2005 // The U.S. property/casualty industry reported improved operating results in 2004 for the second straight year, but for the first time since 1978, underwriting results were profitable, with a combined ratio of 97.9,...
New Lloyd’s Research Reveals Underwriters’ Industry Views and Concerns
Apr 19 2005 // Lloyd’s underwriters believe that buyers are more concerned about pricing than current insurance industry investigations – according to new research released Tuesday. The research* also reveals that...
PIA National Takes Issue with Plumeri’s Comments
Apr 19 2005 // The National Association of Professional Insurance Agents has reiterated its support of contingent commissions being a part of the compensation received by Main Street professional insurance agents. The PIA statement was...
Treasury Check
Apr 18 2005 // At a recent gathering of New York independent agents and executives in Westchester, a well-respected insurance company executive proceeded to give his impressions of what is happening in Washington with regard to the...
European Nations Offer Lessons in Insuring Catastrophes and Terrorism
Apr 18 2005 // GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government...
Volatile Underwriting Cycle is Back with a Vengeance, Advises Economist
Apr 18 2005 // The property/casualty insurance industry’s frequently volatile underwriting cycle is back with a vengeance and will have no mercy this time around, advises a top industry economist. The property/casualty financial...
Entrepreneurial Spirit and Trust: Marks of Today’s Successful MGA
Apr 18 2005 // An Interview with Francis Johnson, AAMGA President-Elect Francis Johnson, president of Johnson and Johnson Inc., of Charleston, South Carolina, becomes president of the American Association of Managing General Agents in...
Calif.’s AB 925 Could Mandate Insurers to Invest in Under-served Communities
Apr 18 2005 // California Insurance Commissioner John Garamendi and Assembly member Mark Ridley-Thomas (D-Los Angeles) introduced AB 925, a new piece of legislation that would require insurers to make investments in low- and...
Insurers Tell Senate Panel of Possible Long-Term Terrorism Insurance Solution; Urge Swift Action
Apr 14 2005 // In testimony today before the Senate Banking Committee, Ernie Csiszar, president and chief executive officer of the Property Casualty Insurers Association of America, outlined possible components of a long-term terrorism...
Garamendi Proposes New Regulations for Homeowners Insurance Market
Apr 14 2005 // California Insurance Commissioner John Garamendi on April 14 announced new regulations to protect homeowners from unfair “use it and lose it” practices in the homeowners insurance market. “We all pay...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Lloyd’s CEO Outlines ‘Strategic Challenges’ Facing General Insurance Industry
Apr 8 2005 // Lloyd’s CEO Nick Prettejohn, speaking at the FSA insurance conference on Thursday, April, 7, outlined six “strategic challenges” facing the general insurance industry, which he also indicated was by no...
Hartwig Tells CASRS Seminar Volatile Underwriting Cycle is Back
Apr 7 2005 // The property/casualty industry’s frequently volatile underwriting cycle is back with a vengeance and will have no mercy this time around, Robert Hartwig, senior vice president and chief economist for the Insurance...
Insurers Warn in Study: Unprofitable Del. Auto Insurance Market Could Face Reduced Competition
Apr 6 2005 // Even after investment income is considered, underwriting private passenger automobile insurance in Delaware has been unprofitable for the past five years, according to a study done by the Property Casualty Insurers...
Report Suggests Texans Overpaying for Insurance
Apr 5 2005 // Insurance companies in Texas overcharged homeowners and drivers by $4 billion last year despite recent legislation designed to limit rising rates, according to a report released recently by two state consumer groups. The...
How to Float to the Top and Other Words of Wisdom
Apr 4 2005 // Berkshire Hathaway’s Buffett on Insurance Economics, 2004 Results By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s...
