Market - Latest Insurance News

Shelby Upsets Insurers’ Plan to Delay TRIA’s Sunset

Oct 25 2004 // Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a good chance of getting its wishes when it comes to extending the...

Uncertainties Worry Conventioneers

Oct 25 2004 // Clear skies prevailed over Florida during October’s ASCnet and Big “I” conferences in Orlando, but an underlying feeling of anticipation prevailed because the hurricane season lasts until the end of...

Better State Policy Will Make Better Insurance Policies

Oct 25 2004 // The Texas home and auto insurance market is finally on the mend. Rates have begun to stabilize, and thanks to landmark reforms passed in 2003, companies are even eyeing our state as a place to do business. Competition and...

Professional Liability: Will the Cycle Remain Unbroken’

Oct 25 2004 // Some say it’s over—the hard market, that is. Certainly in some areas of professional liability this is true. Many renewal premiums in 2004 are flat, or are even dropping by 10 percent or more. Not withstanding the...

Take Two: Looking at the Med-Mal Crisis from Both Sides

Oct 25 2004 // National editor Andrea Ortega-Wells recently moderated a “Take Two” debate discussing the hot topic of medical malpractice, and what, if any, reforms are needed. The debate featured Paula Sweeney, partner with...

A.M. Best: Cycle Management Key to Reinsurance Industry Financial Strength

Oct 22 2004 // The reinsurance industry is facing a key test from the 2005 renewal season in terms of how it reacts in practice to pricing pressure from cedents, according to A.M. Best Co.. While the material levels of catastrophe losses...

Indemnity Excess & Surplus Agency Hires Grenier, Promotes Eversole

Oct 18 2004 // Beaverton, Ore.-based Indemnity Excess & Surplus Agency Inc. has hired Delia Grenier as senior associate broker and promoted Darren Eversole to marketing manager. Grenier will be responsible for brokering and...

New York AG Sues Marsh Over Contingent Commissions, Cites Insurers Over Alleged Bid-Rigging

Oct 14 2004 // New York Attorney General Eliot Spitzer on Oct. 14 sued Marsh & McLennan Companies, the nation’s biggest insurance brokerage firm, alleging that it steered clients to insurers with whom it had lucrative...

AIG’s Greenberg: Industry Faces Trouble with Congress on TRIA; Some Pursue ‘Graveyard’ Strategy

Oct 12 2004 // The insurance industry has difficulty convincing Congress about the significance of its business and some of its own leaders about the pitfalls of overly-aggressive price competition, according to one of the world’s...

According to Study, Insurers Continue to Price-Gouge Doctors Despite Falling Med-Mal Payouts

Oct 12 2004 // With the issue of medical malpractice and “tort reform” becoming an increasingly discussed topic this election year, Americans for Insurance Reform (AIR) announced the release of a new study of medical...

Best Reports 28% Increase in Direct Premium Volume for Surplus Lines

Oct 11 2004 // A special report released by A.M. Best Co. concludes that at the end of 2003, direct premium volume for the surplus lines industry increased by about 28 percent over the prior year, which followed an estimated 62 percent...

IICF CEO Chin Retires After 10 Years of Service to the Industry, Community

Oct 11 2004 // After devoting heart and soul to the Insurance Industry Charitable Fund (IICF) for 10 years, CEO Karen Chin officially retired on Oct. 1. The Walnut Creek, Calif.-based organization allows people in the insurance industry...

Progressive Hopes to Drive Market Share Its Way with New Agency Brand

Oct 11 2004 // Progressive Insurance Co.’s move to re-brand its independent agency segment is being met with good reviews from outside financial analysts and branding experts, but mixed reviews from the independent agents who are...

Progressive’s New Branding Effort Hopes to ‘Drive’ Market Share

Oct 11 2004 // Progressive Insurance Co.’s move to re–brand its independent agency segment is being met with good reviews from outside financial analysts and branding experts, but mixed reviews from the independent agents who...

Progressive Hopes to Drive Market Share Its Way

Oct 11 2004 // Progressive Insurance Co.’s move to re-brand its independent agency segment is being met with good reviews from outside financial analysts and branding experts, but reviews from independent agents at the center of...

Insurance Industry Meets Challenge As Hurricanes Tear Through Southeast

Oct 11 2004 // National and state insurance industry associations reacted speedily as hurricanes Charley, Ivan, Frances and Jeanne tore through the southeast — all four landing in Florida and continuing on to devastate states as...

Dusk Delayed as House Takes First Step Toward Extending TRIA’s Sunset

Oct 11 2004 // Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a good chance of getting its wishes when it comes to extending the...

Progressive Hopes to Drive Market Share With Independent Agency Brand