Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Kevelighan: Talks with Institutes on Creating 21st Century Triple III Began Years Ago
Nov 16 2020 // Affiliating with The Institutes provides an opportunity for the industry’s Insurance Information Institute (III) to become more of a 21st Century trade association, rather than one suited for the 1950s, according to...
Causey Re-Elected as North Carolina Insurance Commissioner
Nov 16 2020 // Incumbent Mike Causey, a Republican, has defeated Democrat Wayne Goodwin in the third rematch between the two candidates for the position of North Carolina Insurance Commissioner. The Associated Press reported Wednesday...
Young E&S Professionals Face Toughest Market They Have Ever Seen
Nov 16 2020 // Wholesaler brokers of all ages are facing hard market conditions with rising insurance rates, tighter underwriting and fewer carriers willing to write some tough classes. They, like everyone, are also experiencing fewer...
Commissioner Says Insurance Industry Spent $2.1B with California Diverse Businesses
Nov 13 2020 // Diverse California businesses supplied $2.1 billion in goods and services to insurance companies last year, a 16.7% increase since 2018. That’s according to the latest California Insurance Diversity Survey results...
How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment
Nov 12 2020 // While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may...
Causey Re-Elected as North Carolina Insurance Commissioner
Nov 5 2020 // Incumbent Mike Causey, a Republican, has defeated Democrat Wayne Goodwin in the third rematch between the two candidates for the position of North Carolina Insurance Commissioner. The Associated Press reported Wednesday...
Despite Challenges, New Year Will Bring Strong, Stable Industry: Hartwig
Nov 4 2020 // Despite a year of unprecedented challenges and uncertainty and a halting global economic recovery, the insurance industry remains strong, stable, sound and secure. Though below pre-COVID forecasts, major indicators point...
Private Equity Investors Pelican Ventures, J.C. Flowers to Buy Ariel Re from Argo Group
Nov 2 2020 // Pelican Ventures and J.C. Flowers & Co., both private equity investors with significant insurance expertise, announced they have agreed to acquire reinsurance franchise Ariel Re from Argo Group for an undisclosed...
Candidates in Hotly Contested North Carolina Insurance Race Talk Scandal, Priorities
Nov 2 2020 // The race for the next North Carolina Insurance Commissioner features two familiar faces to state voters in what is a three-peat showdown featuring Republican Mike Causey and Democrat Wayne Goodwin. Causey, the incumbent,...
Michigan Insurance Market at a Glance
Nov 2 2020 // The reform of Michigan’s auto insurance market, which went into effect on July 1, 2020, brought the promise of much-needed premium relief for Michigan drivers. An April 2019 study by the Insurance Research Council...
California Pledges to Protect Homeowners from Insurer Withdrawals Due to Wildfires
Nov 2 2020 // California’s insurance commissioner in late October pledged to step up efforts to protect the state’s residents from wildfires and address a pullback of private insurers from the state’s riskiest...
Agents’ E&O Under Pressure
Nov 2 2020 // The agency errors and omissions liability market has enjoyed stable market conditions for years. But that could be changing as agents and their insureds attempt to balance emerging risks in a changing insurance market. The...
It Would Take P/C Insurers 150 Years to Pay COVID-19 Business Interruption Losses
Oct 30 2020 // The world’s property/casualty insurers would have to collect business interruption insurance premiums for 150 years in order to absorb the estimated US$4.5 trillion global output loss inflicted by COVID-19 and its...
Florida Property Insurance Market Inches Closer to Crisis – Part 2
Oct 30 2020 // The Florida Office of Insurance Regulation is monitoring the state’s property insurance situation that is seen as in a crisis by those in the industry. The regulator said the insurance market has been buffeted by...
Florida Property Insurance Market Inches Closer to Crisis – Part 1
Oct 29 2020 // After years of warnings that the Florida property insurance market was heading towards an availability crisis, many in the industry say the moment of reckoning has arrived. They blame unchecked claims litigation from...
How Much Insurance Groups Have Given to Trump, Biden and House, Senate Candidates
Oct 29 2020 // Democratic presidential candidate Joe Biden has received more funds from insurance industry political committees than President Donald Trump in this 2020 election cycle. Biden has received $5.5 million compared to...
Insurers Again Battled Many California Bills, but a Fight Last Year Was Biggest Recent Victory
Oct 28 2020 // The election is nearly here, and while it’s been quite a year all around, things could have been worse for the insurance industry. When the year started, insurance industry lobbyists were facing a big battle, and not...
Hanover Insurance Enters Maryland Personal Lines Insurance Market
Oct 27 2020 // The Hanover Insurance Group Inc. (THG) has expanded its business in Maryland to include personal lines insurance and appointed a group of independent agents in the state to serve its growing customer base. The Hanover has...
HDI Global Specialty Enters German Fine Art, High Net Worth Market with Hire from AXA
Oct 20 2020 // HDI Global Specialty SE is entering the German Fine Art and high net worth insurance market with the appointment of Dr. Alexander Wiebe from AXA. He joins the specialty lines insurer as head of Fine Art & Lifestyle...
CRC Group Sets New Leadership Roles for Brennan, Kessler As Helveston to Retire
Oct 19 2020 // National wholesaler insurance broker CRC Group announced changes to the company’s senior leadership team effective January 1, 2021. Ron Helveston currently CEO, Commercial Solutions, is retiring and will be succeeded...
