Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Excess Capacity Continues to Drive Rate Cuts at June Renewals: JLT Re Report
Jun 5 2017 // Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell...
P/C Industry Posts $4.7B Net Underwriting Loss in 2016
Jun 5 2017 // Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by higher catastrophe-related property losses, according to ISO and the Property Casualty Insurers...
Texas Lawmakers Pass ‘Hailstorm’ Litigation Bill
Jun 5 2017 // Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events passed the state...
Florida Youth Activist Urges Industry to Step Up Fight Against Climate Change
Jun 2 2017 // Seventeen-year-old climate activist Delaney Reynolds has a message for the insurance industry on the topic of climate change: It’s time to step up and take action against this global crisis. “Your future...
What Liability Insurance Restatement Final Approval Delay Means
May 31 2017 // It had been expected by many that, after seven years of arduous work, the American Law Institute’s “Restatement of the Law, Liability Insurance” would be approved last Tuesday at the Institute’s...
State of the P&C Insurance Industry 2017 Report-Chris Burand
May 30 2017 // San Diego, CA, May 30, 2017- Highly respected and outspoken insurance agency and industry consultant Chris Burand shares his “must-read” annual state of the property/casualty insurance industry report with his...
Cyber Insurance Market Growing More Slowly Than Expected: Allianz
May 26 2017 // The tiny market for cyber insurance has been slower to develop than generally anticipated, a member of Allianz’s board said in an interview. The European market for cyber insurance currently has a premium volume of...
Here’s What the House Has in Mind for Revamping Flood Insurance Program
May 26 2017 // A much-anticipated House subcommittee proposal on flood insurance promises to reauthorize the National Flood Insurance Program (NFIP) for five years beyond its September 30 expiration date. The proposal would introduce...
P/C Insurance Industry Again Reports Underwriting Loss in Q1
May 25 2017 // The U.S. property/casualty industry posted a first-quarter 2017 net underwriting loss of $841.5 million, according to preliminary financial results, continuing the industry’s underwriting loss trend seen in 2016. The...
Rhode Island Insurance Agents Have New Coastal Insurance Market
May 24 2017 // Independent insurance agencies in Rhode Island have a new market for coastal homes – Spinnaker Insurance Company. Spinnaker’s New England distributor, Insurance Agency and Customer Service Company (IACSC) of...
WannaCry Attack Could Be Opportunity for Cautious Insurance Industry: A.M. Best
May 23 2017 // According to a rating agency A.M. Best, the the recent WannaCry ransomware attack could be a benefit to the insurance industry if it leads to better-crafted policies with clear language that provide the desired protection...
States Getting More Active on Autonomous Vehicle Rules, Says PCI Director
May 22 2017 // Powered by InsuranceJournal.tv Thinking about the rules of the road for a time when autonomous vehicles dominate the landscape is probably like envisioning a horseless carriage on the plains of the Old West. But that...
Texas ‘Hailstorm’ Litigation Bill Headed to Governor’s Desk
May 17 2017 // Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events has passed the state...
Hackers Access Email Database of E-Signature Service Used by Insurance Industry
May 17 2017 // Electronic signature service DocuSign said on Tuesday hackers had temporarily gained access to a database containing customer emails, which the company linked to a surge in phishing emails sent to its users. The company...
Wholesale Associations NAPSLO, AAMGA Merging to Form WSIA
May 15 2017 // Things are moving forward for a new insurance industry trade association for the wholesale, specialty and surplus lines insurance industry. The new Wholesale and Specialty Insurance Association (WSIA) is being formed by...
Atkins Appointed Kentucky Insurance Commish
May 15 2017 // Nancy G. Atkins has been appointed Commissioner of the Kentucky Department of Insurance (KYDOI), in the wake of Brian Maynard’s decision in April to vacate the post. Maynard stepped down as commissioner of KYDOI...
Q&A: Art Theft and Its Impact on the Insurance Industry
May 15 2017 // Bill Anderson, a managing partner of Brooklyn, New York-based Art Guard, recently spoke with Insurance Journal about issues related to insurance and artwork. Anderson has observed that roughly more than 50 percent of art...
Insurance Industry-Backed Storm Damage Bill Passes Texas House
May 15 2017 // The passage in the Texas House of a bill limiting liability for property insurance companies sued by policyholders following weather related events has given the insurance industry, which lobbied strongly for the bill,...
How a Border-Adjustment Tax Would Hurt Louisiana’s Insurance Market
May 12 2017 // Louisiana already has some of the highest property insurance rates in the nation. But they could creep higher still—an estimated $1.11 billion higher over the next decade—should congressional tax-reform efforts limit...
Medical Professional Insurance Market in Good Health for Now: A.M. Best
May 12 2017 // The U.S. medical professional liability (MPL) insurance sector is stable, with strong capitalization and profitable, albeit declining, operating performance, plus the prospect of positive earnings in the medium term,...
