Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Flood, Tax Relief, Cyber Security: Risk Managers’ View on the Political Turmoil in Washington
May 7 2018 // Congress is headed for a “major showdown” over the flood insurance program, according to an insurance broker lobbyist who notes that the program expires July 31, right in the middle of hurricane season. That...
Insurer Sees Growth in Insurance Market for Telemedicine Providers
May 4 2018 // As the U.S. market for telemedicine continues to expand, so does demand for insurance coverage for these providers, according to Beazley, which launched its product last summer. The U.S. is the largest and most mature...
Explaining a Policy to Someone Who Knows Better
May 2 2018 // A good friend and colleague forwarded me a press release written and sent out by a public adjusting company. Since I was wondering what to write about this week, I’m truly grateful for the article, but when I read...
U.S. Insurers Not Doing Enough on Sustainability, New Report Shows
Apr 26 2018 // A new report from a sustainability advocate gives two green thumbs down to the U.S. insurance industry for its inability to grow its efforts, or its interest, in dealing with climate change compared with other sectors. The...
Lloyd’s to End Most Paper Trading by End of 2019
Apr 24 2018 // Most business on the Lloyd’s of London insurance market will be negotiated electronically by the end of next year, its chief executive Inga Beale said on Monday. The largest commercial insurance market in the world...
How Insurance Brokers, Risk Managers View the Political Dysfunction in Washington
Apr 20 2018 // Congress is headed for a “major showdown” over the flood insurance program, according to an insurance broker lobbyist who notes that the program expires July 31, right in the middle of hurricane season. That...
Reinsurance Capacity Remains Abundant for Mid-Year Renewals: Aon Benfield
Apr 18 2018 // Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital...
IICF Southeast Division Awards $473K in Grants to Nonprofits in Texas, Region
Apr 17 2018 // The Insurance Industry Charitable Foundation (IICF) Southeast Division has awarded $473,000 in community grants to 24 nonprofit organizations that champion the causes of children at risk, education and military...
Plymouth Rock Assurance Entering N.Y. Insurance Market With Latest Acquisition
Apr 17 2018 // Plymouth Rock Assurance Corporation (PRAC) is entering the New York insurance market with its acquisition of 21st Century National Insurance Company (National). PRAC previously brought its insurance portfolio to...
Wisconsin-Based Accelerator Boosts Startups in Insurance and Beyond
Apr 16 2018 // The insurance industry is not the only focus of the Madison, Wisconsin-based startup accelerator, gener8tor, but insurance is its oldest and largest operational sector. Founded in 2012 by attorneys Troy Vosseller and Joe...
2018 Young Agents Survey: Straight Talk From Young Agents
Apr 16 2018 // Young agents want change. They want more diversity in the agency sales ranks. They want better paths to grow in their careers. They want other agents to adhere to professional standards and ethics. They want faster and...
What Young Agents Might Change
Apr 16 2018 // This issue of Insurance Journal features exclusive results from the 2018 Young Agents Survey where more than 500 young agents nationwide shared their views on the insurance industry and their experience as an agent. (See...
Surplus Lines: Insurtech and Technological Opportunities, Challenges
Apr 16 2018 // Over the last year or so, the insurance industry has seen technological advances driving new products and distribution means to market. We have seen “insurtech” blossom from a term to describe the intersection...
What Cyber Exposures and Coverage Gaps Keep Risk Managers Up at Night
Apr 16 2018 // Risk managers are very concerned about the cyber risks facing their companies and are heavily investing in protection against cyber attacks with the blessings of their boards and CEOs, a major shift from even just 10 years...
People
Apr 16 2018 // SIAA (Strategic Insurance Agency Alliance) has hired Gretchen Klemm as a contracts compliance manager at its Hampton, N.H., location. In this role, Klemm will manage day-to-day interactions with independent agency members...
Michael Crowley to Receive City of Hope’s Spirit of Life® Award
Apr 11 2018 // Michael “Mike” Crowley to receive award at the National Insurance Industry Council’s Annual Gala; Crowley is retired vice chairman of Markel Corporation. Duarte, CA, April 11, 2018 — The National...
China’s Xi Maintains Commitment to Open Economy, Insurance Industry
Apr 10 2018 // Chinese President Xi Jinping promised on Tuesday to open the country’s economy further and lower import tariffs on products including cars, in a speech seen as an attempt to defuse an escalating trade dispute with...
What Cyber Exposures and Coverage Gaps Keep Risk Managers Up at Night
Apr 6 2018 // Risk managers are very concerned about the cyber risks facing their companies and are heavily investing in protection against cyber attacks with the blessings of their boards and CEOs, a major shift from even just 10 years...
$332B in Premiums Makes California World’s 4th Largest Insurance Market
Apr 5 2018 // California’s annual insurance premium volume has increased to $332 billion, Insurance Commissioner Dave Jones announced on Thursday. That makes California is the 4th largest insurance market in the world, and the...
Investment in Innovation to Rock Chicago Stadium at Insurtech Conference
Apr 5 2018 // Three stages, a packed football stadium overlooking Lake Michigan, decked out luxury suites. A rock concert? No, it’s an insurance innovation and investment event. But some attendees might be star-struck by the...
