Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Insurers Find Geithner Regulatory Plan Unclear on Federal Role
Mar 27 2009 // The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any...
New Insurance Agencies Defy Hard Economy, Soft Market
Mar 25 2009 // Against economic and soft markets odds, independent insurance agents have been starting up new property/casualty agencies from Florida to California and states in-between since 2007. For years, the number of agencies in...
Aon Survey Finds Aerospace Insurance Market Approached Parity in 2008
Mar 25 2009 // Aon’s newly launched “Aerospace Insurance Market Outlook 2009” initially determined that the “average lead premium in the aerospace insurance market continued to decline during 2008, but...
Contractor Insurance Professionals Benefit With Five Point Advantage Plan from The American Contractors Agency
Mar 25 2009 // Since 1993, The American Contractors Agency (ACA) has provided specialty services, products and resources to thousands of professional contractors. HUNDREDS of contractors each month request GENERAL LIABILITY INSURANCE...
States Gear Up for Stimulus Package
Mar 23 2009 // Impact on Insurance Industry May be Minimal, Experts Say The $787 billion stimulus package passed by Congress looms as the largest mountain on the country’s newly changed economic landscape. But despite hope that the...
Declarations
Mar 23 2009 // Keeping Homes Afloat “PCI applauds Congress for acting to keep the National Flood Insurance Program in place. Allowing the program to expire would have very negative consequences for policyholders and also for the...
People
Mar 23 2009 // Kate Westover, vice president of Alternative Risk Financing at Innovative Captive Strategies, has received the 2009 Distinguished Service Award from the Captive Insurance Companies Association (CICA). Based in Colchester,...
Opportunity Knocks
Mar 23 2009 // No one will argue that operating an insurance business today is challenging. The recession has put pressure on consumers’ wallets, causing them to consider reducing coverages; credit is difficult to come by, meaning...
Ohio Windstorm Losses in Feb. Reach Nearly $89M; Ike Losses Rise
Mar 16 2009 // Ohio’s Feb. 11-12 windstorm caused at least $88.9 million in damages, based on preliminary insured loss estimates from the Ohio Insurance Institute (OII), an insurance industry trade group. Widespread losses were...
Report: Japanese Insurers Sompo, NipponKoa to Merge
Mar 12 2009 // Japanese non-life insurers Sompo Japan Insurance and NipponKoa Insurance plan to merge, an industry source said, in the second deal in less than two months in a sector struggling with slumping demand and a dwindling,...
TMPAA to Provide a Critical Look at the Insurance Industry
Mar 11 2009 // Target Markets Program Administrators Association, Wilmington, DE. With keynote speaker Ben Stein commenting on the current state of our economy, and John Amore (CEO General Insurance, Zurich Financial Services) providing...
Florida Surplus Lines Insurance Industry Seeks Regulatory Certainty
Mar 11 2009 // Surplus lines insurance industry leaders in Florida hope legislation working its way through the state Legislature will clarify how the industry will be regulated. The industry has had concerns about its future since court...
Michigan Denies Auto Insurance Rate Hikes Because of Credit Scoring
Mar 11 2009 // Michigan’s regulator has reignited a debate over credit scoring by denying auto insurance companies requested rate increases because their proposed rate schemes include discounts for good credit scores. Commissioner...
Captive Insurance Industry Honors Westover of ICS
Mar 10 2009 // Kate Westover, vice president of Alternative Risk Financing at Innovative Captive Strategies, has received the 2009 Distinguished Service Award from the Captive Insurance Companies Association (CICA). Based in Colchester,...
Montana Legislators To Evaluate Auto Repair, Bad Faith Bills
Mar 10 2009 // The Montana legislature will hear bills this week related to auto body repair and what the insurance industry is calling bad faith legislation that could drastically affect the state’s insurance market and insurance...
States Gear Up for Stimulus Package
Mar 9 2009 // Impact on Insurance Industry May be Minimal, Experts Say The $787 billion stimulus package passed by Congress looms as the largest mountain on the country’s newly changed economic landscape. But despite hope that the...
People
Mar 9 2009 // Russell R. Oliver, president of Texas Mutual Insurance Co. since 1995, is retiring from the company at the end of August 2009. Oliver notified the Board of Directors in January of his decision to retire this summer. Two...
People
Mar 9 2009 // San Francisco-based Wells Fargo & Co. announced its management team for the combined insurance businesses of Wells Fargo and Wachovia Corp. Reporting to Dave Zuercher, group head of International and Insurance...
Finding a Niche
Mar 9 2009 // A Young Company With a Nontraditional Management Style, Heffernan Insurance Brokers Has Shown How an Agency Can Be Young and Successful at the Same Time Top 100 Agency Profile RANKING: No. 11 Agency Name: Heffernan...
A Look at the Transportation Insurance Industry
Mar 9 2009 // Industry Still Stalled in a Soft Market But Some Rate Increases on the Horizon Observers of the property and casualty insurance industry, who consider themselves gurus when it comes to predicting cyclical changes, find...
