Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Insurance Industry Kept Promises to Hurricane Victims; Now Tested by Wildfires
Nov 16 2018 // Between the devastating wildfires in California and the destructive forces of Hurricanes Florence and Michael on the East Coast earlier this fall, the property/casualty insurance market has been put to the test this...
Carbon Copies of Flo, Jake, Gecko Join Climate Change Protest at NAIC Meeting
Nov 15 2018 // An angry Flo, an unusually sullen Jake, a less-than cheeky Gecko and a hawkish duck stood outside the National Association of Insurance Commissioners meeting in San Francisco on Thursday in protest to call out the industry...
JBA Risk Management Launches India Crop Model for Re/Insurers as El Niño Looms
Nov 15 2018 // JBA Risk Management (JBA), the UK-based modeling firm, has launched an India crop catastrophe model for the re/insurance market. More commonly known for flood maps and models, JBA collaborated with Chaucer through its...
Cyber Expert Says Industry Over-Complicates Cyber Insurance
Nov 15 2018 // Powered by InsuranceJournal.tv Cyber insurance is relevant to every type of business but the insurance industry needs to make it simpler so that more businesses understand why they should buy it, according to Graeme...
Ageas Agrees to Acquire 40% Stake in India Non-Life insurer RSGI
Nov 14 2018 // Brussels-based insurer Ageas announced it has signed an agreement to acquire 40 percent of the share capital of the Indian non-life insurance company Royal Sundaram General Insurance Co. Ltd. (RSGI) for a total...
How Insurance Industry Might React to ‘New Normal’ of California’s Historic Wildfires
Nov 13 2018 // The “new normal” for California has yielded another year of record wildfires and billions of dollars in insured losses. Homeowners insurance rates inch up in high risk areas, and carriers get more cautious...
Miller Names New Equity Partners: Hands, Lane, Wheeler, Henderson and Speers
Nov 9 2018 // Miller Insurance Services LLP announced that it has boosted its partnership with five internal appointments. With effect from Jan. 1, 2019, James Hands, Charles Lane, Phil Wheeler, Martin Henderson and Ben Speers will be...
Patrick Ryan Hails Program Business Amid Retail Consolidation, Moves Toward MGAs
Nov 8 2018 // Target Markets Program Administrator Association Industry Keynote Speaker Patrick G. Ryan, founder, chairman and CEO, Ryan Specialty Group, addressed attendees at the group’s 18th Annual Summit on Oct. 22., in...
Regulators, Industry Seek to Keep Florida AOB Abuse in Check After Michael
Nov 5 2018 // In an effort to keep the Florida assignment of benefits (AOB) crisis from further worsening in the state, Florida’s insurance industry, regulators and consumer advocates are on high alert for AOB activity in the wake...
Pressure’s on the Trucking Sector
Nov 5 2018 // The transportation industry is considered a barometer of the U.S. economy. If freight is trending up, so too is the U.S. economy. But capacity constraints for trucking – including a shortage of qualified drivers, low...
Why It’s Important to Understand Your Carriers
Nov 5 2018 // I have been analyzing the insurance industry and individual insurers and agencies for a long time now. When I started analyzing the industry, I never imagined, and I have not met any industry veterans who could imagine,...
People
Nov 5 2018 // Valerie Butt has been named head of Casualty for Zurich North America Commercial Insurance. Based in Chicago, Butt will lead the casualty business with responsibility for new and renewal business. Butt takes on the role...
RenaissanceRe to Acquire Tokio Millennium Re in $1.5 Billion Deal
Oct 30 2018 // Bermuda-based RenaissanceRe Holdings has agreed to pay about $1.5 billion to acquire Tokio Marine’s reinsurance platform (TMR), which includes Tokio Millennium Re AG and Tokio Millennium Re (UK). If closing tangible...
How High Customer Expectations Raise the Bar for Insurance Industry
Oct 30 2018 // Record high customer satisfaction among auto insurance customers is clearly good news for customers, especially at a time when their overall customer experience is being tested by the rising cost of auto insurance. For...
To Insure Cyber or Not to Insure Cyber: Cautions and Caveats for Carriers
Oct 22 2018 // While there are some issues with the data, virtually every report shows the cyber insurance market growing. Aon Benfield had it growing 37 percent last year to $1.8 billion. It’s profitable and the loss ratio is in...
CoreLogic & Academic Institutions: The Future of Catastrophe Risk
Oct 18 2018 // This post is part of a series sponsored by CoreLogic. First on the Market Ten years ago, CoreLogic® (at the time, EQECAT) introduced the use of global Atmosphere-Ocean-General-Circulation Models (AOGCM) for...
Glen Mulready, Candidate for Oklahoma Insurance Commissioner
Oct 18 2018 // Oklahoma Insurance Commissioner Election 2018 The office of the insurance commissioner in Oklahoma is an elected position. The current commissioner, John D. Doak, is term limited and cannot run again; his successor will be...
Regulators, Industry Seek to Keep Florida AOB Abuse In Check After Michael
Oct 18 2018 // Haley Nelson inspects damages to her family properties in the Panama City, Fla., spring field area after Hurricane Michael made landfall in Florida’s Panhandle on Wednesday, Oct. 10, 2018. (Pedro Portal/Miami Herald...
Insurer Group Hammers Claim that California Prop 103 Saved Drivers Billions
Oct 17 2018 // The insurance industry is taking exception to a new report commemorating the 30th anniversary of one of California’s primary auto insurance laws that claims the law has saved drivers billions of dollars. The Consumer...
Google Invests in Insurance Agency Software Firm Applied Systems
Oct 17 2018 // Giant Google’s investment arm has purchased a minority stake in Applied Systems, a provider of insurance technology and cloud-based software for independent agencies. The investment in Applied Systems is being made...
