Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Private Market Could Grow As Government Flood Insurance Prices Rise: Fitch
Mar 6 2014 // As federal subsidies for flood insurance are reduced and the cost of government provided insurance goes up, the demand for private flood coverage could also rise, according to Fitch Ratings. However, it remains to be seen...
Tony Markel Leads City of Hope Fund Raising Effort
Mar 3 2014 // Prev Next Tony Markel, of Markel Corp., talks about raising funds for cancer research. Tony Markel, of Markel Corp., was honored as national chair of City of Hope’s Power of Hope campaign. Tony Markel was recently...
IronPro Enters Fidelity, Crime Insurance Market
Mar 3 2014 // IronPro, the U.S. professional and management liability unit of Ironshore Inc., is entering the fidelity & crime insurance market with product capacity limits available of up to $30 million. Kevin Finn has been named...
Insurance Units’ Profits Drive Berkshire Hathaway
Mar 3 2014 // Insurance operations contributed $5.7 billion to total operating income of $15.1 billion for Berkshire Hathaway in 2013—with an underwriting profit of $2.0 billion (after taxes) representing the 11th year in a row with...
Malaysian Insurance Institute Signs Agreement with Cambodia Insurance Ass’n.
Mar 3 2014 // The Malaysian Insurance Institute (MII) and the Insurance Association of Cambodia (IAC) have signed a Memorandum of Understanding (MoU) for “a bilateral collaboration to forge a beneficial business relationship to...
Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014
Feb 27 2014 // More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest...
Texas Insurer Group Seeks Nominations for Industry Leadership Award
Feb 26 2014 // The Insurance Council of Texas (ICT) is seeking nominations for its annual Raymond Mauk Leadership Award, the council’s highest honor. The award will be presented on July 17, at the annual Mid-Year Property and...
The ‘Switching’ Economy: Consumers to Buy Insurance from Google, Amazon, Verizon
Feb 24 2014 // New global research finds that as many as two-thirds (67 percent) of insurance customers would consider purchasing insurance products from organizations other than insurers, including 23 percent who would consider buying...
Technical and Medical Device Convergence Exposes New World of Risks
Feb 24 2014 // When the acclaimed television drama series Homeland climaxed with a devious plot by terrorists to kill the U.S. vice president by hacking into his electronic pacemaker, critics mocked the ludicrousness of the idea deeming...
Technology’s Opening a Whole New World of Agent E&O Exposures
Feb 24 2014 // Those in the insurance industry have another errors and omission (E&O) risk to consider these days, and they have technology to thank for it. Anyone in the insurance industry that possesses, stores, transmits or...
People
Feb 24 2014 // Laurie Infantino has been named education director of Insurance Journal‘s Academy of Insurance. The insurance education professional will focus on the quality of the instructors and the education content offered by...
Brokers Missing Out on Big Opportunities in Trade Credit Insurance Market
Feb 21 2014 // Agents and brokers who are not selling trade credit insurance – also known as receivables insurance – are missing huge opportunities but also opening themselves up to errors and omission (E&O) exposures, according...
How ACA Healthcare Law Could Affect P/C Insurance Costs and Claims
Feb 21 2014 // The property/casualty insurance industry is likely to face cost shifting by hospitals, physicians and other medical providers due to the Patient Protection and Affordable Care Act (ACA), according to an insurance industry...
FSOC’s Insurance Expert Woodall Approved As International Regulatory Observer
Feb 18 2014 // Roy Woodall, the insurance sector voting member of the Financial Stability Oversight Council, will finally be getting involved in the International Association of Insurance Supervisors (IAIS) but as an observer, not a...
AIG Lured to Malaysia by Growing Takaful Market: Islamic Finance
Feb 18 2014 // American International Group Inc. is plotting its entry into Malaysia’s Islamic insurance market, lured by the country’s economic expansion and an industry that has grown more than fivefold in less than a...
Scottsdale’s Miller: E&S Market Stable with Moderate Growth in 2013
Feb 10 2014 // The excess and surplus lines insurance industry was in a good place last year, characterized by a stable market and moderate growth, according to one executive who is bullish on the sector. “I think the E&S...
N.Y. Regulator Talks About Insurance Markets, 2014 Agenda
Feb 10 2014 // A top official from New York State’s Department of Financial Services (DFS) recently spoke about the state’s property/casualty insurance markets, calling it overall very good but “a bit more of a mixed...
The ‘Switching’ Economy: Consumers Open to Buying Insurance from Google, Amazon, Verizon
Feb 7 2014 // New global research finds that as many as two-thirds (67 percent) of insurance customers would consider purchasing insurance products from organizations other than insurers, including 23 percent who would consider buying...
National Tornado Summit Focused on Catastrophe Preparedness, Response
Feb 5 2014 // The third annual National Tornado Summit being held Feb. 10 and 11 in Oklahoma City will bring together insurance industry professionals, emergency managers, policymakers and weather experts. Oklahoma Insurance...
UPenn Legal Scholar: FIO Report Is ‘Cautiously Sensible’
Feb 5 2014 // The Federal Insurance Office (FIO)’s recent report on how to improve and modernize insurance regulation has received a range of reactions since its publication in December. Recently a business law scholar at the...
