Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Critics Say Taxpayers’ $14B Guarantees Profit for Crop Insurers
Sep 11 2013 // Former American International Group Inc. chief Maurice “Hank” Greenberg has a new business partner: the U.S. taxpayer. Greenberg’s Starr Indemnity & Liability Co. is one of 18 companies approved to...
Insurance Pros in Politics: Insurance Good Training Ground for Political Leadership
Sep 10 2013 // When it comes to current or former occupations of state and federal lawmakers, that of insurance producer is not one of the most commonly listed, but perhaps it should be. The variety of skills one necessarily develops...
Insurance Pros in Politics: Midwest Politicians Work as Insurance Advocates
Sep 10 2013 // Those who have worked in the insurance industry and now practice politics in the Midwest say they are able to provide valuable insight into policies and insurance laws that affect their state’s important industries...
Workers’ Compensation Market: Challenges Remain Despite Recent Improvements
Sep 9 2013 // The market for workers’ compensation insurance is in a recovery phase of the underwriting cycle after several years of poor results. In particular, premium rates continued to increase meaningfully through the first...
Driveway Software Launches Smartphone Platform for Usage-Based Insurance Market
Sep 5 2013 // San Francisco-based , a provider of smartphone-based telematics products for the usage-based insurance market, has introduced its SmartUBI Platform, a complete insurance telematics platform which includes a smartphone...
Lloyd’s Chairman Nelson Says Insurance Investment Boom Creates Risk
Sep 5 2013 // A flood of investment capital into structures linked to insurance could lead to instability and spark a new financial crisis if left unsupervised, a top official has warned. Billions of dollars from investment funds has...
Capital Oversupply Could Pressure Reinsurers to Lower Rates
Sep 4 2013 // Munich Re and Swiss Re Ltd. are among reinsurers likely to face further pressure to lower the rates they charge clients as the capital available for backing policies remains near a record high, brokers said. “With...
DeGraide Named to DVIC Strategic Board
Sep 3 2013 // Fort Myers, FL, 9/3/13 – Disabled Veterans Insurance Careers, dedicated to helping disabled U.S. veterans by providing new opportunities for training and employment in the insurance industry, announces the election of...
Bellotti to Receive Award From Insurance Library Association of Boston
Aug 27 2013 // The Insurance Library Association of Boston announced that Francis X. Bellotti, vice chairman of the board of the Arbella Insurance Group and of counsel at law firm Mintz Levin, has been named the 2013 Insurance...
Insurance Industry Plans 8th Annual Tour of Texas Coast
Aug 23 2013 // For the eighth year in a row insurance spokesmen will team with the Texas Department of Insurance and meteorologists from the National Weather Service to advise Texas coastal residents of the potential dangers of...
Mass. Division of Insurance Approves 2 New Entrants to State’s Auto Insurance Market
Aug 20 2013 // The Massachusetts Division of Insurance announced that Privilege Underwriters Reciprocal Exchange (PURE) and Esurance automobile insurance are now available for Massachusetts consumers. The Division of Insurance said that...
P/C Direct Premium Written Up Nearly 4.8%
Aug 19 2013 // Direct premium written (DPW) for property/casualty insurance companies continued its upward trend during the first quarter of 2013. At year-end 2012, the industry reported more than $523 billion of DPW — an all-time...
Hong Kong’s Li to Tap ex-AIA Deputy as New Insurance CEO: Sources
Aug 16 2013 // Hong Kong businessman Richard Li, the youngest son of Asia’s richest man, will appoint a former top executive at AIA Group Ltd as the CEO of his new insurance company, according to people with direct knowledge of the...
Insurers, Government Grapple with Costs of Growth in Wildland-Urban Interface
Aug 15 2013 // The summer of 2013 has been another severe fire season for the United States, a trend that has insurance companies bracing for a new normal: higher rates of property damage as Americans move to wildfire-prone areas in ever...
Applied Systems Acquires Insurecom in U.K.
Aug 14 2013 // University Park, Ill.-based insurance software provider Applied Systems Inc. has acquired Insurecom, a software and connectivity solutions company focused on the insurance industry in the United Kingdom. Under the deal...
Cat Bonds, Sidecars Keeping Reinsurance Rates Low Says Guy Carpenter
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
Insurance Industry Charitable Foundation’s Boston Chapter to Host Fundraising Event
Aug 8 2013 // The Insurance Industry Charitable Foundation (IICF) Boston chapter will host a fashion-show fundraising event to support two Boston-area charities: Cradles to Crayons and Bottom Line. The “Rock Your World”...
Commentary: Does FSOC Understand the Business of Insurance?
Aug 5 2013 // The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat to U.S....
Insurer Loss Ratios High in Oklahoma after Years of Extreme Storms
Aug 5 2013 // The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates above the $5 billion mark, were extreme examples of a years-long pattern of storms...
Industry Told TRIA Won’t Be Renewed Until 2014
Aug 5 2013 // The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the...
