Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
How Florida’s Strained Insurance Market is Facing COVID-19, Hurricane Season
Jun 3 2020 // From the threat of insurer ratings downgrades to mounting carrier losses because of excessive litigation to increasing insurance rates, Florida’s insurance market got off to a rocky start in 2020. Then came the...
Pandemic Reinsurance Solution Gains Wide Support from UK Re/Insurance Industry
Jun 1 2020 // UK insurance executives have taken another step toward developing a public-private risk-financing mechanism for future pandemics with the creation of work streams to take the idea from the drawing board to an operating...
Stress Testing Shows Most Insurers to Withstand Pandemic Hit
Jun 1 2020 // Analysts at the AM Best ratings firm say their initial stress tests of insurance companies globally to gauge the preliminary impact from the COVID-19 pandemic on their financial strength found good news: “most...
Cannabis Broker Spotlight: Bozzuto with Cannabis Connect is an Outspoken Advocate for the Business
May 28 2020 // Editor’s note: This is the first in a series of profiles on cannabis brokers, in which Insurance Journal explores why and how these folks got into the business, the ups and downs of insuring cannabis, as well as a...
Wells Media Names Huebner as Web Team Lead
May 27 2020 // Wells Media Group has named Nathan Huebner to the position of Web Team Lead. In this position, Huebner heads the Wells development team and is responsible for overseeing the technology infrastructure, including server and...
Join the Big Coronavirus Survey for the Entire Property/Casualty Insurance Industry
May 27 2020 // How is the coronavirus pandemic affecting you, your life, your work and your industry? Now and going forward? No matter where you work in the P/C insurance industry, your experience is important. Learn how your experience...
Lawmaker Details Federal Reinsurance for Pandemic Business Interruption, Event Losses
May 27 2020 // New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance...
Times Square to Go Dark to Shine Light on Fight Over Business Interruption Insurance
May 26 2020 // The digital billboards in New York City’s famous Times Square will go dark tonight at 9 pm ET for one minute to dramatize the plight of restaurants, non-profits and retailers across the country that are suffering...
Insurers, Agents Propose Pandemic Business Relief Plan; Plaintiffs Offer BIG Compromise
May 22 2020 // Key segments of the property/casualty insurance industry, which is facing mounting claims for business interruption losses from the pandemic, have thrown their lobbying weight behind a proposed federal program to replace...
Federal Coronavirus Business Interruption Suits Now Top 100; Many More Expected
May 22 2020 // A federal court has received notice that 101 lawsuits have been filed as of Wednesday seeking coverage from insurers for business interruption losses caused by COVID-19. Plaintiffs attorneys say they expect the number to...
P/C Insurers Back a Federal Pandemic Loss Fund But Not a Backstop Like TRIA
May 19 2020 // Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the...
AM Best’s Stress Testing Indicates Most Insurers Can Withstand Pandemic Hit
May 18 2020 // Analysts at the AM Best ratings firm say their initial stress tests of insurance companies globally to gauge the preliminary impact from the COVID-19 pandemic on their financial strength found good news: “most...
Profits to Sink Until 2021 Second Half: Fitch
May 18 2020 // While insurance rates have risen for nine consecutive quarters due to large catastrophe losses and accelerating claims inflation, Fitch Ratings expects that technical profits won’t be seen until the second half of...
Insurtechs Will Not Shape the Industry’s Future Alone
May 18 2020 // Insurtech was once the Wild West of the insurance industry. Many of Insurtech’s early players came from outside insurance after observing the industry struggle to deliver what was, in their view, a competitive...
Legal Actions That Insurance Pros in the Cannabis Biz Should Pay Attention to
May 18 2020 // Ian Stewart Lawsuits and legal concerns in the cannabis business are too numerous to count – just like with many other industries – but there are few that insurance professionals in the business should keep an...
States Will Not Win in Mandating Coronavirus Business Interruption Coverage: S&P
May 18 2020 // Standard & Poor’s said it does not expect state legislators to succeed in their efforts to retroactively expand business interruption insurance coverage for COVID-19-related losses. The reason: An expectations of...
Florida Market Study Will Evaluate Exposures, Strategies for Citizens Property Insurance
May 12 2020 // Citizens Property Insurance Corp., Florida’s insurer of last resort, has moved forward with an independent study that will evaluate the insurer’s potential exposures from the state’s troubled property...
For Global Insurers, Pandemic Likely to Erase Profits Until 2021 Second Half: Fitch
May 11 2020 // While insurance rates have risen for nine consecutive quarters due to large catastrophe losses and accelerating claims inflation, Fitch Ratings expects that technical profits won’t be seen until the second half of...
COVID-19 Hits Already-Troubled Nursing Home Insurance Market; Brokers Try to Help
May 10 2020 // Nursing homes are right in the middle of the deadly coronavirus pandemic hitting the U.S, with more than 28%, or nearly 20,000, of the nation’s COVID-19 deaths happening in these long term care facilities, according...
AI Specialist omni:us Partners with Insurtech Rokk3r to Enter Latin American Market
May 4 2020 // omni:us, the insurance-focused artificial intelligence (AI) solution business, has announced a partnership with Rokk3r, a global innovation technology and consulting company, to enable the AI company to enter the Latin...
