Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
States Need Better Protections for Insurance Consumers in Natural Disasters: Rutgers Report
Sep 21 2017 // As homeowners continue to file insurance claims in the wake of Hurricanes Harvey and Irma, a research report released by the Rutgers Center for Risk and Responsibility at the Rutgers Law School in Camden, N.J., suggests...
Fitch: Hurricane Irma Losses Substantial, But Won’t Weaken Insurer Ratings
Sep 21 2017 // Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on various loss estimates, according to a report from Fitch Ratings. The ratings agency said these losses will...
Hurricanes to Usher in Short-Term Hard Market for Property Risks: Survey
Sep 18 2017 // Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term according to a new KPMG survey. In related analysis, a new Morgan Stanley report...
P/C Direct Premium Written Up 4.5 Percent
Sep 18 2017 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2016, approximately $606 billion of DPW was reported, a record high for the industry. For 2016,...
Brokers Keep Trucking Market Motoring Despite Insurer Exits
Sep 18 2017 // Trucking serves as a barometer of the U.S. economy, representing 70.6 percent of all domestic freight transportation tonnage and $676 billion, or 79.8 percent,of transportation revenues in the country. Despite the...
Massachusetts’ Insurance Recovery Group Appoints James as President and CEO
Sep 14 2017 // Paul James has been appointed to the role of president and chief executive officer of Insurance Recovery Group Inc. (IRG) by David A. Jollin, IRG’s chairman of the board. IRG is a national subrogation, second injury...
Irma Analysis: Insurer Financial Stress Unlikely If Early Loss Estimates Hold
Sep 11 2017 // Before Hurricane Irma made landfall in south Florida on Sunday morning, analysts were assessing the potential damage to property/casualty insurer and reinsurance balance sheets and earnings. On Friday, Fitch Ratings noted...
Multi Award-Winning Telematics Company, The Floow, Brings Unique Coaching and Reward Services to the US Insurance Market
Sep 8 2017 // Sheffield, UK, September 8, 2017- Insurance telematics innovator, The Floow, is bringing its industry leading approach to the US market with the launch of its unique FloowCoach program and Rewards Services App at Connected...
Update: Insurance Industry Preparation for Hurricane Irma in Full Swing in Florida
Sep 7 2017 // Source: National Hurricane Center Insurers are taking no chances in preparing for Hurricane Irma as the powerful category 5 storm slogs its way through the Caribbean, devastating the communities left in its wake on its...
Lessons Learned from Hurricane Andrew
Sep 4 2017 // How the Insurance Industry Can Mitigate the Next Big Natural Disaster As an industry, we knew there could be large and costly hurricanes. We witnessed the destruction that Category 5 Hugo wrought on the Carolinas in 1989....
Brokers Bucking Disruption: How Wholesalers Hang On Through Change
Sep 4 2017 // As long as there is an insurance industry, wholesaler brokers believe they will have a role to play. “We will continue to be an important sector – a small sector – but still a very important sector of how...
Report: Climate Change May Pose Threat to Nation’s Electric Grid
Sep 4 2017 // Climate change may pose a serious risk to the nation’s electric grid, according to a new report. The report was prepared by Johns Hopkins University with help from Swiss Re. “Lights out: The risks of climate...
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Sep 4 2017 // Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew...
Insurance Industry Opens Hurricane Harvey Disaster Relief Fund
Aug 30 2017 // The nonprofit Insurance Industry Charitable Foundation (IICF) has established the IICF Hurricane Harvey Disaster Relief Fund to assist victims affected by Hurricane Harvey. IICF said it will collect and report on the total...
25 Years Later: How Florida’s Insurance Industry Has Changed Since Hurricane Andrew
Aug 24 2017 // Aug. 24, 1992 was anything but a typical Monday for Robert Reynolds as he drove through debris-filled roads and devastation on the way to his family-run agency then located just north of Homestead, Fla. Hurricane Andrew...
Online Property Management Service Cozy Takes On Renters Insurance Market
Aug 22 2017 // The renters insurance market has been a hard nut to crack for the industry, but an insurance carrier and online rental service platform hope their partnership may be the secret to breaking through. Cozy, an online property...
As Congress Eyes Flood Insurance Renewal, Private Markets Get Ready
Aug 21 2017 // Unleashing the invisible hand that has been missing from the flood insurance market for nearly 50 years is no easy task. But private flood insurance experts say the change would be a good thing not only for private flood...
Minding Your Business: The Tale of Two Values
Aug 21 2017 // It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…” This opening line in Charles Dickens novel “A Tale of Two Cities” summarizes the...
5 Reasons Cyber Security Is Failing and What P/C Insurers Can Do About It
Aug 18 2017 // Businesses are spending a small fortune on cyber security but what they are doing is not working very well, according to a cyber security expert who sees the insurance industry as a key to improving the...
P/C Insurance Industry Maintains Favorable Ratings in First Half 2017: A.M. Best
Aug 17 2017 // Credit rating activity for the U.S. property/casualty industry in the first half of 2017 was favorable, with upgrades outpacing downgrades. Nearly one-third of the 2017 upgrades were driven by increased parental support,...
