Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Rep. Davis Voices Concerns Over Industry’s Weakness in Fla.
Feb 4 2005 // While describing himself as a novice on insurance industry topics, Rep. Jim Davis, D-Tampa, summarized the current state of the industry in Florida during a Friday morning presentation to the Windstorm Insurance Network...
Fla, Committee to Discuss Revamping Homeowner’s Insurance Market
Feb 2 2005 // Florida’s Joint Select Committee on Hurricane Insurance meets in Tallahassee on Friday to discuss ways to revamp the homeowner’s insurance market. At the meeting the legislators will hear from consumer...
Trade Ministers to Seek Doha Accord; Agreement Could Bolster International Insurance Market
Jan 31 2005 // Although the world’s developed and developing nations still appear to be far apart on concluding new agreements on international trade, they’ve at least agreed to make a new attempt to do so. The so-called Doha...
Feb. 1-4 Windstorm Conference Agenda: Hurricane Lessons, Preparing for Summer
Jan 27 2005 // The four major hurricanes that severely impacted Florida and other states and preparing for the 2005 hurricane season will be discussed by Max Mayfield, director of the National Hurricane Center, during the Feb. 1 to 4...
Mich. Insurers Say Consumers Lose in Gov. Granholm’s Tax Plan
Jan 27 2005 // A proposal to more than double the tax burden on the state’s insurance industry announced by Governor Jennifer Granholm today will result in higher premiums for the insurance-buying consumer, the Insurance Institute...
Survey: Investigations into Industry Practices to Expand in 2005
Jan 24 2005 // Leaders of the property/casualty insurance industry expect the investigations into certain industry practices by state attorneys general and insurance departments will continue to expand in 2005, according to a survey...
Is it Time to Sell the Agency’ Three Factors to Help You Decide …
Jan 24 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...
Are We Repeating the Past — Again’
Jan 24 2005 // I fear we are entering a period of cyclical amnesia. We are once again setting aside underwriting discipline. Recent market forecasts are projecting deteriorating terms and conditions. In a collection of works titled...
Back to the Basics
Jan 24 2005 // E&S Industry Returns to Familiar Ground Neither wind, nor rain nor the dark cloud of standard carriers returning to the marketplace will keep excess and surplus insurance writers from maintaining profitability. From...
Insurance Industry Can’t Paper Over Its Faults, Lloyd’s Chairman Advises
Jan 24 2005 // There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the...
Insurance Industry Can’t Paper Over Its Faults, Lloyd’s Chairman Advises
Jan 24 2005 // There are a number of things about the insurance industry that drive Lord Levene crazy but nothing more than all the paper. “The paperwork is nuts,” the Lloyd’s of London chairman exclaims. He tells the...
Iowa Insurers Caught Like Deer in Headlights by Levy Request
Jan 24 2005 // DES MOINES, Iowa–A group of Iowa politicians wants the insurance industry to impose a levy on automobile policies to help fund a program to thin deer populations and decrease accidents they cause. Sen. Dennis Black...
Are We Repeating the Past … Again’
Jan 24 2005 // In a collection of works titled The Life of Reason, the philosopher George Santayana wrote, “Those who cannot remember the past are condemned to repeat it.” There’s now a momentous shift underway in the...
Tillinghast Tort System Cost Study Under Fire
Jan 18 2005 // National consumer groups are criticizing a leading consulting firm’s annual study of U.S. tort system costs, claiming the report “has nothing to do with the costs of litigation, courts or the legal...
Iowa Insurers Caught Like Deer in Headlights
Jan 16 2005 // DES MOINES, Iowa — A group of Iowa politicians wants the insurance industry to impose a levy on automobile policies to help fund a program to thin deer populations and decrease accidents they cause. Sen. Dennis Black...
D-Day for U.K. Insurance Industry as FSA Assumes Regulatory Control; AXA Fined $940,000
Jan 14 2005 // Today, Friday, Jan. 14, marks the long anticipated official takeover of regulatory responsibility over the U.K.’s insurance industry by the Financial Services Authority. There should be no major surprises, as the...
Survey: Investigations into Industry Practices to Expand in 2005; Respondents Expect Consolidation to Continue
Jan 14 2005 // Leaders of the property/casualty insurance industry expect the investigations into certain industry practices by state attorneys general and insurance departments will continue to expand in 2005, according to a survey...
2004 Will be Remembered as Beginning of Soft Market
Jan 14 2005 // MarketScout reported recently that calendar year 2004 will end with an average 2 percent increase in composite property and casualty premiums. The year began in January 2004 with increases averaging 11 percent, a major...
Lloyd’s Chairman Warns Insurers 2005 Will Be Critical For Rebuilding Industry’s Reputation
Jan 13 2005 // A record year of natural disaster losses and Eliot Spitzer’s investigations into payment practices highlighted the urgent need for the insurance industry to tackle its reputation and practices during 2005, Lord...
Guy Carpenter & Co. Report Finds U.S. Reinsurance Market Flat, Slightly Down
Jan 10 2005 // Guy Carpenter & Company Inc., part of the Marsh & McLennan Companies, has released its annual report on pricing at renewals, U.S. Reinsurance Renewals at Jan. 1, 2005, which found pricing generally to be flat to...
