Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Industry Coalition Praises Regulators’ Resolution to Support Terrorism Act Extension
Jun 14 2004 // A broad-based coalition of property/casualty insurance company, insurance producer and reinsurance trade associations commended the National Association of Insurance Commissioners (NAIC) for adopting a resolution...
Condo Associations Join Call for TRIA Renewal
Jun 11 2004 // A national organization representing 250,000 community and condominium associations is urging the U.S. Department of Treasury to extend and expand provisions of a law that enable community associations to obtain reasonably...
ISO’s Coyne: Survival May Be Greatest Challenge for Many P/C Insurers
Jun 8 2004 // With all signs pointing to increasing competition in U.S. property/casualty markets, the most important challenge many insurers face may be survival itself, an industry leader said Tuesday. In remarks at the 76th Annual...
Insurance Industry Charity Gala Makes a Difference
Jun 7 2004 // The Insurance Industry Charitable Foundation (IICF) held its annual benefit gala on May 7, 2004, at the Asian Art Museum in San Francisco. The gala hosted nearly 400 insurance industry representatives for an elegant...
Garamendi’s Homeowners’ Bill of Rights Moves Ahead
Jun 7 2004 // California Insurance Commissioner John Garamendi’s “Homeowners’ Bill of Rights” package is continuing to move through the California State Legislature. The four main measures have all moved out of...
PCI Says Recent Midwest Floods Show Need to Reauthorize NFIP
May 28 2004 // The Property Casualty Insurers Association of America has issued a bulletin pointing to a weekend of destructive storms in the Midwest, as proof of the “need for an immediate reauthorization of the National Flood...
ABD Announces Enhancements to CyberSure(R) Client Service Portal
May 25 2004 // Redwood City, Calif.-based ABD Insurance & Financial Services, a provider of global risk management and employee benefits solutions, has announced significant enhancements to its online customer service center,...
Levene Defends Need for ‘Strong Balance Sheets’
May 20 2004 // Lloyd’s Chairman, Lord Peter Levene, told Canadian business leaders in a speech at the Empire Club in Toronto, that, although customers often complained when they saw insurers making a profit, the industry needs...
LWCC Pays $10 Million Dividend
May 20 2004 // The Louisiana Workers’ Compensation Corporation (LWCC) announced the distribution of its first-ever dividend, returning $10 million to over 21,000 qualifying Louisiana policyholders. This was a goal of the Board of...
Insurers Urge Senate Panel to Extend TRIA
May 18 2004 // Congress should act this year to extend the Terrorism Risk Insurance Act (TRIA) for two years beyond its Dec. 31, 2005, expiration date because the private market alone cannot deal with further catastrophic terrorist...
PCI White Paper: Insurer Profitability Must Be Viewed Over Long Term
May 17 2004 // A white paper published by the Property Casualty Insurers Association of America (PCI) shows that insurance industry profitability must be evaluated over the long term and that loss costs, not investment return, are the...
Insurers Prepare for a Post-TRIA World; ‘Baby Steps’ Toward Federal Regulation
May 17 2004 // Property/casualty insurers are coming to grips with the fact that a government-sponsored terrorism insurance backstop could expire at the end of next year, which would send pricing shockwaves through the market. Carriers...
Making the Rounds With South Dakota’s Governor
May 17 2004 // Michael Rounds was having trouble sleeping at night. An insurance agent by trade and a politician by passion, he had told close friends and associates that he would not run for the governorship of South Dakota. It was...
The Market Will Always Be ‘The Market’
May 17 2004 // Our “market” is still essentially no different than what it was a century ago. We are still in the business of protecting the assets of our insureds while generating a profit. For as long as I have been in the...
AIA Pleased With 2004 Colorado Legislative Session
May 17 2004 // The Colorado legislature adjourned sine die on May 5, giving final approval to several measures before going home. The American Insurance Association (AIA) reported that positive legislation affecting the insurance...
Fla. Measure to Increase Availability of Homeowners Insurance Becomes Law
May 12 2004 // A measure designed to increase the availability of homeowners insurance and improve Florida’s ability to recover financially from catastrophic hurricanes through improvements to Florida’s Hurricane Catastrophe...
S&P Reports on U.S. P/C Industry Financial Condition
May 11 2004 // Standard & Poor’s Credit Market Services has issued a report on the U.S. P/C industry, which notes that the rating agency is maintaining its negative rating outlook on this sector of the commercial insurance...
Industry Tells N.Y. Lawmakers Alternatives to TRIA in Works in Case Congress Fails to Renew as Hoped
May 7 2004 // The insurance industry has rebounded after the September 11th terrorist attack on the World Trade Center – the largest loss in insurance history, according to the New York Insurance Association (NYIA). Addressing a...
AIA Pleased With 2004 Colorado Legislative Session
May 7 2004 // The Colorado legislature adjourned sine die on May 5, giving final approval to several measures before going home. The American Insurance Association (AIA) reported that positive legislation affecting the insurance...
RMS, Marshall & Swift/Boeckh Form Partnership to Enhance Property Valuation for Risk Analysis
May 6 2004 // Newark Calif.-based Risk Management Solutions (RMS), a leading provider of products and services for the management of catastrophe risk, and Marshall & Swift/Boeckh (MS/B), leaders in building cost solutions to the...
