Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
P/C Direct Premium Written Up 4.3 Percent: Demotech
Oct 3 2016 // 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,...
Fitch Assesses Slowdown in E&S Market
Sep 29 2016 // Excess and surplus lines underwriters continued to outperform the U.S. property/casualty industry at large in terms of combined ratio in 2015, Fitch Ratings said in a new market review. The report also cautions that...
National Flood Insurance Program Buys Private Reinsurance, Plans More in 2017
Sep 22 2016 // The federal government has contracted with private reinsurers to improve the National Flood Insurance Program’s claims paying ability and reduce the need for the NFIP to borrow from the U.S. Treasury to cover future...
AAIS Files New Standardized Personal Auto Program Nationwide
Sep 22 2016 // American Association of Insurance Services (AAIS), a national not-for-profit insurance advisory organization governed by its member companies, announced the filing and approval of a new standardized Personal Auto Program...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
Sep 19 2016 // The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the...
Signs of the Agency Financial Times: 7 Key Trends Producers Should Watch
Sep 19 2016 // 7 Key Trends Producers Should Watch to Keep from Being Left Behind In “Left Behind,” the first book in an apocalyptic series by Tim LaHaye and Jerry Jenkins, the main characters find themselves scrambling to...
When the Shooting Stops: The Emerging Risk of Active Shooters
Sep 19 2016 // There’s a new insurance market emerging in light of a disturbing reality in today’s world – active shooter risks. The new coverage is meant to address a gray area in insurance policies that may leave insureds...
What’s Driving Reinsurance Growth: Aon
Sep 19 2016 // Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property/casualty insurance industry registering a small rise for the first time in several years, and the trend expected...
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 19 2016 // The 11-year hurricane drought in Florida is officially over. While preliminary damage estimates and claims are still trickling in from Hurricane Hermine, Florida’s first named hurricane since 2005, the consensus from...
Ohio Insurance Industry Adding Jobs, More Expected, Trade Group Says
Sep 19 2016 // In terms of employment opportunities, the insurance industry in Ohio is growing at a robust pace, a state insurance industry trade group says. In the 2016 edition of its “Insurance in Ohio” report, the Ohio...
Future Workers’ Compensation Profitability Faces Obstacles
Sep 19 2016 // Workers’ compensation, the largest product segment in the U.S. commercial lines insurance sector, has experienced a recent profit renaissance, moving to a significant underwriting profit in 2015. However, long-term...
Re/Insurers Need to ‘Reinvent’ Products to Participate in New Economy: XL’s McGavick
Sep 16 2016 // The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some of its products have become shop-worn and less relevant. Competitive pressures are...
Insurance Industry’s Annual Week of Giving Starts Oct. 8
Sep 16 2016 // The Insurance Industry Charitable Foundation (IICF), a nonprofit organization funded by the insurance industry, is hosting its annual Week of Giving during the week of October 8-15. IICF is calling on volunteers to...
New York Proposes ‘Flexible’ Cybersecurity Regulation for Insurers, Banks
Sep 15 2016 // The New York State Department of Financial Services (DFS) has proposed cybersecurity regulation for financial services companies that aims to protect New York state’s financial services industry from an increasing...
Workers’ Compensation Market Enters Soft Market: A.M. Best
Sep 14 2016 // The workers’ compensation market has likely entered a soft market phase based on a declining trend in price increases that began in 2013, according to a new report from A.M. Best. The report titled, “State...
“Biggie Award” Winners Announced at BIG Minivention
Sep 13 2016 // Rancho Cucamonga, CA, September 13, 2016 – The BIG Independent Group (www.biginsusa.com), an association of independent insurance agents and brokers, announced the winners of its “BIGGIE Awards” at the groups...
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 12 2016 // A large oak tree toppled over a Whataburger restaurant in Tallahassee, Fla., Sept. 2, 2016. Many businesses and homes in Tallahassee are without power and several roads are blocked due to tree damage caused by Hurricane...
Top 25 Non-Life Reinsurers: Swiss Re Leads, Berkshire Drops in A.M. Best’s 2016 Ranking
Sep 12 2016 // Swiss Re landed on top of a ranking of global non-life reinsurers, just edging out Munich Re by a few hundred million dollars in premium on a list extracted from an A.M. Best analysis. The rating agency’s special...
Casualty Losses and Cyber, Crop, Property Demand Driving Reinsurance Growth: Aon
Sep 12 2016 // Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property/casualty insurance industry registering a small rise for the first time in several years, and the trend expected...
Chinese Firms Enter Private Health Insurance Market for Growth Opportunities
Sep 8 2016 // Gaming firms, real-estate companies and drugmakers in China are chasing what they hope will be the country’s next hot commodity: private health insurance. At least 29 publicly traded Chinese companies have announced...
