Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Viewpoint: What Insurance Industry Should Acknowledge About Small Business Cyber
Jul 30 2019 // The 2018 Verizon Data Breach Investigations Report cited that 58% of cyber-attack victims were small businesses, and the 2019 Symantec Internet Threat Report stated that employees working at small businesses were more...
Challenges Facing the Florida Insurance Market: A Reinsurer’s Perspective
Jul 30 2019 // Hurricanes Irma and Michael served as a reminder that Florida, more than any other state, is at risk of one of the most intense natural perils, namely hurricanes. The existence of a stable insurance market providing its...
Addressing Florida’s Rising Tide of Flood Exposures
Jul 24 2019 // In the past five years, all 50 states have experienced some type of flooding. Flooding has led to disasters throughout the decades, and this year, it is expected to become unprecedented yet again. Despite a long history of...
Consumer Group Gives California Insurance Commissioner to Month’s End for Contributions Records
Jul 18 2019 // A watchdog group has given California Insurance Commissioner Ricardo Lara until July 31 to produce public records related to meetings with insurance industry representatives who reportedly gave him $54,300 in campaign...
Carolin Appointed CEO of Re/Insurance Industry’s Blockchain Initiative, B3i
Jul 17 2019 // John Carolin has been appointed chief executive officer of B3i Services AG (B3i). Carolin previously served as interim CEO since March 2019 after joining B3i as chief financial officer in March 2018. Carolin’s work...
Petri Honored with ICT’s Raymond Mauk Leadership Award
Jul 15 2019 // The Insurance Council of Texas has presented the Raymond Mauk Leadership Award to Verle Petri, a long time insurance executive and expert on Texas insurance regulation and policy. ICT honored Petri with the award during...
The Potential of Artificial Intelligence
Jul 15 2019 // In a viral State Farm commercial, Oscar Nunez, playing the role of a friendly, helpful insurance agent, disparages any insurance company that utilizes artificial intelligence in support of customer service...
Insurance Industry’s Talent Hunt. It’s Time to Turn Up the Volume: Viewpoint
Jul 12 2019 // The insurance industry needs help — lots of it. By 2020, it’s predicted that we’ll have 400,000 open positions. Of course, we’ve been talking about the talent shortage for years; it’s not new...
For Best in Insurance Industry Marketing, the Awards Go to…
Jul 11 2019 // HealthMarkets and The Co-operators won the most awards overall, six each, including two Best of Show Awards, at this year’s annual Insurance Marketing and Communications Association (IMCA) awards gala. They were...
Pushing and Pulling Lloyd’s Into the 21st Century
Jul 10 2019 // Twenty-five years ago, the Lloyd’s of London marketplace was teetering on the brink of insolvency, reeling from billions of dollars of asbestos and pollution liabilities. Many of the best brains in the market worked...
Insurance Department: Uptake of Earthquake Coverage Declines in Missouri
Jul 9 2019 // A new report issued by the Missouri Department of Insurance shows that earthquake insurance coverage in the highest risk areas of Missouri has dropped to just under 14 percent. According to the department, the Earthquake...
The Value to Insurance Agencies of Value-Added Services for Clients
Jul 8 2019 // Let’s face it, insurance is a commodity. The insurance consumer will not see any significant value difference between insurance companies and insurance agencies. Products, price and service are roughly the...
Commentary: Surplus Lines Support Florida’s Vibrant Insurance Market
Jul 3 2019 // The Sunshine State is one of the top three consumers of surplus lines insurance in the country. As Florida focuses on attracting jobs and welcoming opportunity, the surplus lines insurance industry is helping the...
Reinsurers Offering Better Prices, Capacity for Preferred Trading Partners: Willis Re
Jul 2 2019 // Strengthening primary insurance market conditions underpinned improvements to reinsurance prices, terms and conditions at the June 1 and July 1, 2019 renewals, according to the latest 1st View renewals report from Willis...
5 Steps to Reform America’s Flood Insurance Problem
Jul 1 2019 // The NFIP was originally created by Congress to transfer U.S. flood insurance risk to private insurers. However, in 1978, (when private insurance carriers assumed over 40% of the nation’s flood insurance risk), NFIP...
Consortium Seeks Data on Issues, Opportunities for Women in Insurance
Jun 20 2019 // There is an effort underway to develop a better understanding of issues and opportunities for women in the insurance industry. The Million Women Mentors’ Women in Insurance Consortium (WII) will be spearheading what...
Viewpoint: Fixing America’s Flood Insurance Problem in 5 Steps
Jun 19 2019 // The National Flood Insurance Program (NFIP) was originally created by Congress to transfer U.S. flood insurance risk to private insurers. However, in 1978, (when private insurance carriers assumed over 40 percent of the...
State of the Cyber Insurance Market- Top Trends, Insurers and Challenges: A.M. Best
Jun 18 2019 // The cyber insurance market continues to grow and underwriting performance in this line remains strong, according to a new industry report. Direct premiums written for both standalone and packaged cyber policies grew about...
PERILS Buys Canada’s Catastrophe Loss & Exposure Analysis Firm CatIQ
Jun 18 2019 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, has acquired Toronto-based Catastrophe Indices & Quantification Inc. (CatIQ). Financial details of the deal were...
What to Expect from Florida’s AOB Reform Law Taking Effect July 1
Jun 18 2019 // The countdown is on for Florida assignment of benefits (AOB) reform that will take effect July 1, and the insurance industry is getting ready to respond to new requirements as a result of the law as well as evaluating how...
