Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
D&O Premiums Decline for First Time Since 1999; Hard Market to Return by 2006 Predicts Tillinghast
Dec 7 2004 // Tillinghast’s Directors & Officers (D&O) liability insurance premium index dropped 10 percent from 2003 to 2004, the first decline since 1999, according to the 2004 Directors & Officers Liability...
Ill Winds Blow but the Ship Remains on Course
Dec 6 2004 // This year’s annual report on the reinsurance industry is a bit later than usual. It seems that beginning in August the voyage was interrupted by some serious storms, and it was hard to catch up to the boat as it...
Carrier Solvency, Not Aggregate Industry Reserves, Should be Focus
Dec 6 2004 // Placing Industry Loss and Loss Adjustment Expense Reserving into Perspective In an April 2004 edition of Insurance Journal, Mark Wells, publisher, utilized the ‘On the Street’ column to frame the issues related...
Outside on the Professional Liability Playground
Dec 6 2004 // The PLUS 17th Annual International Conference held in San Diego, Calif., Nov. 3-5, opened with an insightful panel discussion of well-known “outside the industry” professionals who routinely play the game of...
Partners Continue to Come and Go, But It’s a Great Time to Jump in the Game
Dec 6 2004 // Partners Continue to Come and Go, But It’s a Great Time to Jump in the Game Program business over the past 10-15 years has been a rocky road for the insurance industry. Companies are in the game today, but gone...
European Insurance Summit 2004 Offers Some Words to Live By
Dec 6 2004 // Rating agencies are a reality, and we have to live with them,” Martin Kauer, CFO, Converium AG. “Market share is the enemy of risk management,” Brian O’Hara, president and CEO, XL Capital....
A.M. Best Finds Improved Earnings Boost P/C Industry’s Surplus Position
Dec 6 2004 // The capital surplus for U.S. property casualty insurers increased by 21.8 percent in 2003, fueled by “vastly improved operating earnings” and a big boost in unrealized capital gains, according to A. M. Best...
Big “I” Panelists Concerned About Terrorism, Asbestos, Tort Reform
Dec 6 2004 // Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company chief executives participating in a panel discussion during last month’s Independent Insurance Agents &...
Maintain a Clean Image
Dec 6 2004 // Data on damages from the four hurricanes that hit the southeast shows that records have been broken, but human actions are causing more and longer-term damage. Speakers representing the insurance industry and insurance...
Ala., Ga., La. Commissioners Discuss Untangling the Regulatory Environment
Dec 6 2004 // In times of disaster the insurance industry is supposed to shine, and your industry did,” Alabama Insurance Comm-issioner Walter A. Bell commented during a panel discussion at the Society of Insurance Research annual...
Oklahoma Looks Ahead, Celebrates Those Who Served Before
Dec 6 2004 // With any luck, by the time you read this, it will be out of date. Why? I hope Oklahoma Gov. Brad Henry will have appointed a new insurance commissioner for the Sooner State. One thing that will not change regardless of...
Is it Time to Sell the Agency’ Three Factors to Help You Decide ….
Dec 6 2004 // 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...
Nonprofits’ Insurance Alliance of California Celebrates 15 Years
Dec 6 2004 // Nonprofits’ Insurance Alliance of California (NIAC), a nonprofit, charitable risk pool specializing in 501(c)(3) nonprofit organizations, recently celebrated its 15th anniversary. NIAC, based in Santa Cruz, Calif.,...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Dec 6 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
Pickens: Despite Media Images Good Things Are Happening in Iraq
Dec 6 2004 // In late October 2004, Insurance Journal had the opportunity to speak with Arkansas Insurance Commissioner and former president of the National Association of Insurance Commissioners Mike Pickens about the time he spent in...
Fla. Subpoenas Marsh & McLennan; Reviewing State Agencies’ Contracts
Dec 6 2004 // In an effort to obtain a better look at insurance contracts with state agencies and any impact on public dollars, Tom Gallagher, Florida Chief Financial Officer, has subpoenaed Marsh & McLennan to obtain documents...
Fla. Workers’ Compensation Rules Repealed; Little Effect Expected on Insurance Industry
Dec 3 2004 // The Florida Supreme Court yesterday decided that it lacked jurisdiction and repealed recent changes in Florida’s Workers’ Compensation Rules, but according to knowledgeable industry experts, the action should...
Speakers Highlight Problems Faced in 2004; Goals for 2005 at IBC Annual General Meeting
Dec 2 2004 // The members who attended the Insurance Bureau of Canada’s annual general meeting yesterday, Dec.1, heard President and CEO Stan Griffin describe a difficult year for the country’s insurers, followed by outgoing...
S&P Reports First Half Results in Japan’s P/C Sector Show Companies Still Under Pressure
Nov 30 2004 // Standard & Poor’s Ratings Services has issued a report noting that Japanese non-life insurance companies recently released results of for the first half of fiscal 2004, which indicate that underwriting...
Lockyer Subpoenas Safeco Corp.
Nov 24 2004 // California Attorney General Bill Lockyer subpoenaed Seattle-based property/casualty insurer Safeco Corp. in connection with his investigation into bid rigging and price fixing in the insurance industry, according to...
