Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Is an ’80s Revival in Store for Public Entities
Nov 26 2001 // The insurance market for pubic entities—municipalities, counties, school districts, etc.—seems to be headed for an ’80s revival, but unfortunately nostalgia can’t be attributed as the driving force. This...
House Likely to Move on Terrorism Bill
Nov 20 2001 // The House will move swiftly after the Thanksgiving recess to put into law a terrorism insurance bill aimed at preventing an economic crisis if coverage is not available after Jan. 1. According to The Washington Post,...
Aon Corp. Announces New Series of Seminars
Nov 20 2001 // Aon Corporation announced a new series of seminars, led by insurance and brokerage experts, that are targeted to industry leaders in order to provide an assessment of future challenges they will face. In the first such...
Texas Commissioner Orders Farmers to Cease Homeowners Non-Renewal
Nov 19 2001 // Texas Insurance Commissioner Jose Montemayor ordered Farmers Insurance Group to stop all activities related to the company’s recent announcement that it would non-renew all of its most-common homeowners (HO-B)...
Insuring Nonprofits as Markets Harden
Nov 19 2001 // As recession looms and claims costs associated with the terrorist attacks on September 11 add up, insurance markets are beginning to harden for the first time in nearly a decade. Many major property and casualty carriers,...
Is an 80s Revival in Store for Public Entities’
Nov 19 2001 // The insurance market for pubic entities—municipalities, counties, school districts, etc.—seems to be headed for an ’80s revival, but unfortunately nostalgia can’t be attributed as the driving force. This...
Are Insurers Really Asking the Government for Help’
Nov 19 2001 // The term “Big Brother” has been tossed around casually since George Orwell introduced the term to the world in his novel, 1984. The concept of big government looking over the shoulder and into the bedrooms of...
A.M. Best Releases Country Risk Reports on Korea, Mexico
Nov 16 2001 // A.M. Best has released country risk reports covering the economic and risk factors for the markets in Korea and Mexico, focusing on the insurance sectors in both countries. The report notes that Korea has been especially...
Weiss Ratings Study Sees Negative Repercussions from Proposals
Nov 14 2001 // The four proposals for terrorism insurance currently under consideration will have negative repercussions for taxpayers, consumers, or both, according to Weiss Ratings Inc. Weiss analyzed plans proposed by the Bush...
S&P: Company Ratings Could Suffer in Federal-State Squeeze on Terrorism Risk
Nov 13 2001 // Commercial insurers face a potentially untenable situation if the federal government fails to pass legislation that would help cushion terrorism costs to the industry by the end of November, and if state insurance...
The View from Up There-Insurers Embrace Space Age Technologies
Nov 12 2001 // The key witness in a recent crop fraud case turned out to be a camera. In June 2001, a U.S. District judge in Arkansas ruled against several farmers accused of filing false crop insurance claims totaling approximately...
Hardening Market Heralds Rush to Alternatives
Nov 12 2001 // During the last hard market, much of corporate America wasted little time in stepping up the search for risk transfer alternatives to traditional commercial insurance. The current hard market appears to be no different if...
IICF Honors Those ‘Bridging’ the Gap between Industry and Community
Nov 12 2001 // Of the many occasions the insurance industry has been called upon to come together as a whole, this past year was especially impressive for the way in which its members made contributions of both money and time to those in...
Attorneys Warn of Impact on Policyholders
Nov 9 2001 // Attorneys who represent insurance policyholders warned House Financial Services Committee Chairman Michael Oxley on Nov. 7 that, “in the rush by the insurance industry to maximize financial gain through legislative...
S&P Comments on the Reinsurance Business
Nov 5 2001 // Standard & Poor’s recently announced that reinsurers are reducing their emphasis on long-standing client relationships and adopting a more clinical approach to underwriting, as both the insurance and reinsurance...
Industry Pays First $10 Billion of Future Terror Claims in Latest Fed Plan
Nov 5 2001 // The Bush administration and Congressional leaders hammered out a new version of a plan to provide reinsurance assistance to the U.S. insurance industry in the wake of the September 11th terrorist attacks, although...
Could What You Don’t Know About Reinsurance Bankrupt Your Business’
Nov 5 2001 // Many of today’s most well-informed insurance professionals do not possess a basic understanding of the reinsur-ance industry, according to reinsurance expert Andy Barile. Independent agents must in-crease their...
Commercial Insurance Market Index Shows Evidence of Hardening Market
Oct 26 2001 // According to the recently released third-quarter Commercial Insurance Market Index — reflecting market observations of the largest commercial insurance brokers across the nation — commercial insurance premium...
IIAA Calls for Passage of Remedy to Terrorism Reinsurance Problems
Oct 26 2001 // In testimony submitted on Capitol Hill, the Independent Insurance Agents of America (IIAA) strongly urged Congress to pass legislation to remedy the availability of terrorism reinsurance in the wake of the Sept. 11...
NAREIT, Financial Services Roundtable Emphasize 3 D’s in Letter to Pres. Bush
Oct 25 2001 // Steven A. Wechsler, president and CEO of the National Association of Real Estate Investment Trusts (NAREIT), and Steve Bartlett, president of The Financial Services Roundtable, sent the following letter, dated Oct. 23,...
