Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
P/C Insurance Executives Express Cautious Optimism for 2017
Jan 23 2017 // A panel of financial experts discussed the opportunities and challenges they see ahead in 2017 at the Insurance Information Institute’s (III) 21st Annual Property and Casualty Insurance Joint Industry Forum, held...
Swiss Re to Open a Reinsurance Branch in India
Jan 23 2017 // Swiss Re has received the approval from the Insurance Regulatory and Development Authority of India (IRDAI) to open a branch in Mumbai. With the composite branch license, Swiss Re will be able to operate in India and offer...
Reinsurance Market Stabilizing But Competition Still Intense
Jan 23 2017 // The bottom of the reinsurance market may be in sight, because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, says a report by A.M....
Tornadoes, Hurricanes and Fires… Oh My! Southeast Weathers Tough 2016
Jan 23 2017 // It is fair to say 2016 was the year of the catastrophe in the Southeast. Tornadoes, drought, floods, hurricanes and wildfires impacted virtually every state in the region. For the insurance industry, these events made for...
Top 25 Insurers: P/C Direct Premium Written Up 3.9 Percent
Jan 23 2017 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2015, approximately $585 billion of DPW was reported, a record-high for the industry. For 2015,...
People
Jan 23 2017 // Wisconsin Insurance Commissioner Ted Nickel has been elected as president of the National Association of Insurance Commissioners (NAIC). Created in 1871, the NAIC establishes standards and conducts peer reviews for...
Illinois Workers’ Comp Reform Proposal the Wrong Approach: Insurer Groups
Jan 23 2017 // Insurance industry lobbying groups have spoken out against a proposed amendment to an Illinois statute that would give insurance regulators in that state more control over workers’ compensation rates. Illinois House...
Expert: Cyber Risk Modeling Requires New Way of Thinking
Jan 23 2017 // Arvind Parthasarathi, founder and CEO of Cyence, a San Mateo, Calif.-based cyber risk modeler, believes that rising to the demand of cyber threats calls for a completely different way of looking at cybersecurity. He thinks...
Fairfax in Talks to Sell 25% of India’s ICICI Lombard, Worth Up to $1B
Jan 20 2017 // Fairfax Financial Holdings is in early talks to sell 25 percent of India’s largest private general insurer ICICI Lombard in a deal that could fetch up to $1 billion, as the Canadian firm looks to cash out and start a...
Brexit Cost Implications to Weigh on UK Re/Insurers: A.M. Best Report
Jan 20 2017 // The cost implications of the loss of passporting rights after the UK exits the European Union will weigh on re/insurers, as will any resultant economic downturn. However, A.M. Best does not anticipate taking any rating...
Soft Market Is Main Factor Limiting Growth of UK MGAs: Survey
Jan 20 2017 // Soft market conditions have replaced regulation and compliance as the main factor affecting growth for UK managing general agents (MGA) in 2017, said a survey of members of the London-based Managing General Agents’...
Looking Forward to BIG’s 2017 Convention!
Jan 20 2017 // Indian Wells, CA, January 23, 2017- Be sure to mark May 4th – 7th on your new 2017 calendars and start making plans to head out to Indian Wells, CA for the 2017 BIG Convention! Along with sultry desert nights, you...
Lloyd’s to Open India Branch Ahead of April Renewals
Jan 20 2017 // Lloyd’s, the specialist insurance and reinsurance market, announced plans to open a reinsurance branch in India, in time for the April major reinsurance renewals, following final regulatory approval from the...
Expect the Unexpected in U.S. Casualty Insurance Market in 2017: Marsh
Jan 19 2017 // Insurers and customers are increasingly embracing the Internet of Things but greater reliance on these technologies could bring problems that ripple through an entire connected system. The unintended consequences from...
Insurers Object to Workers’ Comp Reform Proposal in Illinois
Jan 11 2017 // Insurance industry lobbying groups are speaking out against a proposed amendment to an Illinois statute that would give insurance regulators in that state more control over workers’ compensation rates. Illinois House...
Tornadoes, Hurricanes and Fires… Oh My! 2016 A Rough Year for the Southeast
Jan 11 2017 // It is fair to say 2016 was the year of the catastrophe in the Southeast. Tornadoes, drought, floods, hurricanes, and wildfires impacted virtually every state in the region. For the insurance industry, these events made for...
Is Soft Market Bottoming? A.M. Best Points to Some Promising Signs
Jan 10 2017 // Some observers believe the bottom of the reinsurance market may be in sight because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, according...
How to Help Insureds Manage Customer Privacy Risk
Jan 9 2017 // Insurance carriers and agents have come to learn that increased data can lead to greater risk for insureds, and they are increasingly advising businesses to disclose data collection practices while seeking to gain...
Midwest Regulation Report Card: States’ Grades Range from A to D
Jan 9 2017 // Grades assigned to the insurance regulatory systems in the Midwest states of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin range from A to D in a...
Southeast Regulation Report Card: North Carolina Flunks; Florida, South Carolina Dispute Grades
Jan 9 2017 // North Carolina ranks the worst of all 50 states when it comes to insurance regulation, according to a 2016 insurance regulation report card by an insurance industry think tank. The R Street Institute’s 2016 Insurance...
