Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
White House Notes Insurance Executives Did Not Seek Public Funds
Sep 25 2001 // The White House notes that insurance executives did not request at a meeting with President George Bush last Friday that public funds be used to pay for claims resulting from future terrorist attacks, according to...
NAIC Agrees with Congressional Committee’s Stance Regarding Sept. 11 Tragedy
Sep 25 2001 // The National Association of Insurance Commissioners (NAIC) announced on Sept. 20 it will work collaboratively with Rep. Mike Oxley, chair of the House Financial Services Committee, and other members of the Finance...
The Role of Reinsurance in the World TradeCenter Attacks
Sep 24 2001 // The business of reinsurance is a comparatively small but integral part of the overall insurance industry. Simply defined, reinsurance is transacted on the basis of one insurance company, the “reinsurer,”...
Unique Coverages: A Hard Market Look at How Programs Are Meeting Needs of Challenging Risks
Sep 24 2001 // Underwriting tough risks can be particularly troublesome in a hardening market. Where do you turn when rates skyrocket, exclusions multiply or worse, when carriers begin to shut their doors to classes that no longer...
Insurance Industry Grieves For Its Own
Sep 24 2001 // While the destroyed Twin Towers of the World Trade Center in New York City and surrounding buildings were occupied by a variety of businesses, the insurance industry took a major blow in the Sept. 11 disaster as a number...
How To Help: Who’s Doing What in the Insurance Industry
Sep 24 2001 // America has witnessed an outpouring of emotion and a desire to help after the tragic events of Sept. 11. Following is a list of national facilities and some of the efforts made by insurance organizations to assist in the...
True Loss from Sept. 11 Terrorist Attacks on U.S. is Immeasurable, As Estimates of Potential Insured
Sep 24 2001 // “The World Trade Center is a living symbol of man’s dedication to world peace, his belief in cooperation of men and, through cooperation, his ability to find greatness.” —Minoru Yamasaki (1912-1987),...
Congressional Leaders Urge Industry to ‘Fulfill
Sep 20 2001 // On Sept.17, key congressional leaders from the U.S. House of Representatives Committee on Financial Services sent a letter to National Association of Insurance Commissioners (NAIC) President Kathleen Sebelius regarding the...
Kansas Commissioner Discusses Tragedy
Sep 18 2001 // Kansas Insurance Commissioner and National Association of Insurance Commissioners (NAIC) President Kathleen Sebelius discussed the effects of last week’s tragedies on the East Coast and how they could impact the...
S&P: Insurance Industry Not Crippled by WTC Attack
Sep 17 2001 // Standard & Poor’s announced that the direct financial losses relating to the disasters will in all likelihood exceed the largest insured losses ever yet seen. “Any attempt to quantify the financial impact...
Texas Insurers Estimate 60 Percent Increase in Water and Mold Claims
Sep 17 2001 // New estimates from the insurance industry predict insurer losses from water and mold damage claims will reach $780 million in Texas this year. The figure represents a 60 percent increase over claims from a year...
Hollywood and The Insurance Industry
Sep 17 2001 // Once upon a time in a country far, far away, a few visionaries (and yes, a few con artists) laid the foundations of the multi-billion dollar motion picture industry. It required taking considerable risks, and still does....
Unique Coverages, A Hard Market Look at How Programs Are Meeting Needs of Challenging Risks
Sep 17 2001 // Underwriting tough risks can be particularly troublesome in a hardening market. Where do you turn when rates skyrocket, exclusions multiply or worse, when carriers begin to shut their doors to classes that no longer...
Lloyd’s Says Estimates of Total U.S. Damage ‘Deeply Flawed’
Sep 13 2001 // The Lloyd’s of London insurance market have cautioned that any specific estimate of the absolute cost in financial terms for the insurance industry of yesterday’s tragedy in the United States is highly...
SCOR, Latest Reinsurer to Report Strong 1st
Sep 11 2001 // France’s SCOR Group posted an impressive 53 percent increase in gross written premiums for the 1st half of 2001 to €2.361 billion ($2.12 billion), while net pre-tax profit rose 5.8 percent to€ 99 million...
Are Fine Arts Floaters A Silver Lining in the Insurance Market Cloud’
Sep 10 2001 // Unlike many lines of insurance, the fine arts and collections market has so far managed to avoid the difficulties of a hardening environment. But is it robust enough to carry the industry through tough times? Maybe not,...
Assessing Property/Casualty Insolvency Exposure-2001 to 2002
Sep 10 2001 // There will be no more than 65 property/casualty insurance company insolvencies over the period Jan. 1, 2001, through Dec. 31, 2002, according to Demotech Inc. Demotech Inc., a Columbus, Ohio-based financial analysis and...
Hollywood and the Insurance Industry
Sep 10 2001 // Once upon a time in a country far, far away, a few visionaries (and, yes, a few con artists) laid the foundations of the multi-billion- dollar motion picture industry. It required taking considerable risks then, and it...
TDI’s Montemayor Cautions Against Overreaction on Mold Issues
Sep 3 2001 // Texas Department of Insurance Commissioner José Montemayor is urging both insurers and consumers to avoid overreacting to issues concerning insurance coverage for mold. He said patience was needed as solutions are being...
Are Fine Arts Floaters A Silver Lining in the Insurance Market Cloud’
Sep 3 2001 // Unlike many lines of insurance, the fine arts and collections market has so far managed to avoid the difficulties of a hardening environment. But is it robust enough to carry the industry through tough times? Maybe not,...
