Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 19 2016 // The 11-year hurricane drought in Florida is officially over. While preliminary damage estimates and claims are still trickling in from Hurricane Hermine, Florida’s first named hurricane since 2005, the consensus from...
Ohio Insurance Industry Adding Jobs, More Expected, Trade Group Says
Sep 19 2016 // In terms of employment opportunities, the insurance industry in Ohio is growing at a robust pace, a state insurance industry trade group says. In the 2016 edition of its “Insurance in Ohio” report, the Ohio...
Future Workers’ Compensation Profitability Faces Obstacles
Sep 19 2016 // Workers’ compensation, the largest product segment in the U.S. commercial lines insurance sector, has experienced a recent profit renaissance, moving to a significant underwriting profit in 2015. However, long-term...
Re/Insurers Need to ‘Reinvent’ Products to Participate in New Economy: XL’s McGavick
Sep 16 2016 // The re/insurance industry needs to innovate and become more efficient. It is facing more risk, but premiums are declining. Some of its products have become shop-worn and less relevant. Competitive pressures are...
Insurance Industry’s Annual Week of Giving Starts Oct. 8
Sep 16 2016 // The Insurance Industry Charitable Foundation (IICF), a nonprofit organization funded by the insurance industry, is hosting its annual Week of Giving during the week of October 8-15. IICF is calling on volunteers to...
New York Proposes ‘Flexible’ Cybersecurity Regulation for Insurers, Banks
Sep 15 2016 // The New York State Department of Financial Services (DFS) has proposed cybersecurity regulation for financial services companies that aims to protect New York state’s financial services industry from an increasing...
Workers’ Compensation Market Enters Soft Market: A.M. Best
Sep 14 2016 // The workers’ compensation market has likely entered a soft market phase based on a declining trend in price increases that began in 2013, according to a new report from A.M. Best. The report titled, “State...
“Biggie Award” Winners Announced at BIG Minivention
Sep 13 2016 // Rancho Cucamonga, CA, September 13, 2016 – The BIG Independent Group (www.biginsusa.com), an association of independent insurance agents and brokers, announced the winners of its “BIGGIE Awards” at the groups...
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 12 2016 // A large oak tree toppled over a Whataburger restaurant in Tallahassee, Fla., Sept. 2, 2016. Many businesses and homes in Tallahassee are without power and several roads are blocked due to tree damage caused by Hurricane...
Top 25 Non-Life Reinsurers: Swiss Re Leads, Berkshire Drops in A.M. Best’s 2016 Ranking
Sep 12 2016 // Swiss Re landed on top of a ranking of global non-life reinsurers, just edging out Munich Re by a few hundred million dollars in premium on a list extracted from an A.M. Best analysis. The rating agency’s special...
Casualty Losses and Cyber, Crop, Property Demand Driving Reinsurance Growth: Aon
Sep 12 2016 // Reinsurance demand has increased over the past 18 months, with the cession ratio across the global property/casualty insurance industry registering a small rise for the first time in several years, and the trend expected...
Chinese Firms Enter Private Health Insurance Market for Growth Opportunities
Sep 8 2016 // Gaming firms, real-estate companies and drugmakers in China are chasing what they hope will be the country’s next hot commodity: private health insurance. At least 29 publicly traded Chinese companies have announced...
Trade Group: Insurance Industry Adding Jobs in Ohio at a Rapid Pace
Sep 7 2016 // Powered by InsuranceJournal.tv In terms of employment opportunities, the insurance industry in Ohio is growing at a robust pace, a state insurance industry trade group says. In the 2016 edition of its “Insurance in...
In Flood Risk Modeling, Resolution Matters – Even When You Think It Shouldn’t
Sep 7 2016 // This post is part of a series sponsored by CoreLogic. We have all seen the dramatic pictures of destruction and loss after a devastating flood event. Usually, the scene is depicted as a sea of water inundating broad areas...
AIG, Chubb, XL Group Lead in U.S. Cyber Coverage Market Share: Fitch Ratings
Sep 6 2016 // The U.S. property/casualty insurance industry generated $1 billion in direct written premium volume for cyber insurance in 2015. American International Group (AIG), Chubb and XL Group led the market, according to Fitch...
Trucking Through Cost, Talent, & Regulatory Roadblocks
Sep 6 2016 // It’s been a rough ride, full of twists, turns and a few roadblocks for truckers and their insurance specialists. Truckers today face a number of obstacles that have raised the cost of doing business, including tough...
Insurers Seen ‘Easily’ Handling Hermine Losses
Sep 2 2016 // Hurricane Hermine, which is poised to land in Florida Friday, may result in “manageable” losses for the insurance industry, according to Keefe Bruyette & Woods analyst Meyer Shields. The storm is forecast...
Northeast Could See Impact of Tropical Storm Hermine After Months of Drought
Sep 1 2016 // Over the past several months, the Northeastern U.S. has experienced abnormally dry conditions leading to a drought that could last into the fall. Now, it is facing a different problem with the looming risk of heavy rain...
AIG, Chubb, XL Lead in $1 Billion U.S. Cyber Insurance Market: Fitch
Aug 29 2016 // About 120 U.S. insurance groups wrote an estimated $1 billion in cyber insurance direct written premiums in 2015, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S....
Metal Theft Remains an Expensive Problem for Insurance Industry
Aug 26 2016 // Metal theft became a growing concern post financial crisis due to rising global demand for scrap metal, and although economic conditions have slowed demand recently, this expensive crime is still causing headaches for the...
