Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
July’s European Floods Generated Largest Non-U.S. Insurance Industry Loss in 2021
Oct 7 2021 // The extreme flooding event in Western Europe in mid-July generated the largest insurance industry loss figure so far this year – at current estimates of US$11.0 billion, according to CRESTA, the insurance industry...
Private Flood Insurance Market Small But May Grow With New NFIP Rating: AM Best
Oct 4 2021 // The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best...
The Insurance Industry’s Equality Problem
Oct 4 2021 // The insurance industry has a problem. In order to determine how to charge our customers, insurers must find ways to put people into buckets based on their risk type and expected losses. Historically, the industry has...
MS Amlin AG Enters Agriculture Reinsurance Market, Hiring Bektleuov From PartnerRe
Sep 29 2021 // MS Amlin AG (MS AAG), the global reinsurer, announced its entry into the agriculture reinsurance market with the hire of Rinat Bektleuov as product group lead underwriter. Bektleuov joined the business in August 2021 and...
Why This Is Not a ‘Standard’ Hard Market and Other Views on Today’s Insurance Market
Sep 29 2021 // Interesting. Fluctuating. Moderating. Fun. Those are the words that Patrick M. Gallagher, chief executive officer of Gallagher Global Brokerage for the Americas, used to respond to a question about the state of the...
Private Flood Insurance Market Small But May Grow With New NFIP Rating: AM Best
Sep 23 2021 // The country’s flood insurance market is slowly transitioning toward private insurers providing additional options to the federal government’s program for those seeking coverage, according to a new AM Best...
Florida’s Event Planners Navigate New Insurance Market Reality
Sep 14 2021 // COVID-19 has inflicted significant damage on Florida’s events industry, costing revenue, forcing changes in how the state’s venues operate and limiting options for how conventions, trade shows and concerts are...
‘Hey, Insurance Industry: What About Us?’ Ask Small Businesses as Satisfaction Wanes
Sep 6 2021 // Insurance carriers and agents may want to pay more attention to small business insurance customers, especially those with commercial auto and workers’ compensation policies. They’re feeling neglected. According...
Insurance Industry Keeping Up With an Energy Market in Transition
Sep 6 2021 // Last year was a wild one for the energy sector. There were, of course, COVID-19 related issues. The sector also dealt with continuing pressure on insurer capacity for some energy sectors due to environmental concerns, oil...
Insurance Industry Will Withstand Ida’s Losses in Louisiana, Neighboring States: Analysts
Sep 2 2021 // Though estimates of Hurricane Ida’s impact on the insurance industry vary, both AM Best and S&P Global Ratings say losses will be manageable for insurers and that no rating actions are expected as a result of the...
‘Hey, Insurance Industry: What About Us?’ Ask Small Businesses as Satisfaction Wanes
Aug 24 2021 // Insurance carriers and agents may want to pay more attention to small business insurance customers, especially those with commercial auto and workers’ compensation policies. They’re feeling neglected. According...
Why Snow, Hail and Wildfire Are Expensive for Insurance Industry
Aug 17 2021 // If you’re having trouble wrapping your mind around the spree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California...
In Its Quest for Diversity, Insurance Industry Finds One Size Does Not Fit All
Aug 16 2021 // In the wake of massive protests last year focused on racial equity and social justice, insurers are among the many industries confronting the need to incorporate more diversity into their hiring and business...
Houston’s CrossCover Enters E&S Property Insurance Market
Aug 3 2021 // Houston-based CrossCover Insurance Services, a new managing general underwriter targeting middle-market commercial business, is entering the excess and surplus property market. CrossCover was established in partnership...
Global P/C Industry Sees Strongest Rate Hikes in 20 Years but Inflation Headwinds Loom
Aug 2 2021 // Robust global economic recovery, higher risk awareness and the strongest rate hardening for 20 years in non-life insurance commercial lines will combine to push premiums 10% above pre-COVID-19-crisis levels this year,...
Insurance Industry Heading to Faster Recovery than After 2008 Financial Crisis: Swiss Re
Jul 26 2021 // The global insurance industry is poised to recover more quickly and forcefully from the pandemic than it did after the 2008 financial crisis, despite such obstacles as low interest rates and inflation risk, insurer Swiss...
Pennsylvania Joining National Survey on Climate Risk in the Insurance Industry
Jul 23 2021 // The Pennsylvania Insurance Department (PID) is joining with other states around the country in conducting the National Association of Insurance Commissioners’ (NAIC) Climate Risk Disclosure Survey. The survey allows...
Hippo Enters Commercial Insurance Market With Homeowners Association Product
Jul 23 2021 // Home insurtech Hippo is jumping into the commercial insurance market. The California-based managing general agency startup said its expansion will focus on “targeted commercial insurance” customers. Its first...
The Insurance Industry Needs a Customer Experience Overhaul
Jul 19 2021 // If the COVID-19 pandemic taught me anything, it’s that humanity and empathy need to be the most important part of what we do in insurance. I believe that always putting the customer first will be the not-so-secret to...
In Its Quest for Diversity, Insurance Industry Finds One Size Does Not Fit All
Jul 16 2021 // In the wake of massive protests last year focused on racial equity and social justice, insurers are among the many industries confronting the need to incorporate more diversity into their hiring and business practices....
