Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
What’s Ahead for Reinsurance Industry in 2018: Fitch
Jun 27 2018 // The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits...
Partnering with Insurtech to Transform Rather Than Disrupt Insurance
Jun 26 2018 // The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive,...
Opinion: Is Florida’s Flood Insurance Industry Really Prepared?
Jun 26 2018 // The clock is ticking: The National Flood Insurance Program expires on July 31, 2018; so what happens next? It is well documented that the NFIP is broken and has been in disarray for a long time. The NFIP’s primary...
Here’s a Shocker: Insurance Industry Reserves Still Adequate
Jun 25 2018 // Although analysts at Conning didn’t actually use the word “shocked” in their latest report on the property/casualty industry’s loss reserve position, the title of the report—and the image on the...
B3i Chooses R3’s Corda Blockchain Platform for Development of Business Network
Jun 19 2018 // B3i, The Blockchain Insurance Industry Initiative, has announced it will build its applications and business network on the Corda blockchain platform, supplied by software firm R3. Following an extensive evaluation, which...
Global Commercial Insurance Market to Grow $170B in P/C Premium By 2021: Aon Inpoint
Jun 18 2018 // Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017, and by 2021, they will rise to nearly $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in...
I.I.I. on How Insurance Boosts Economy, Communities and Innovation
Jun 18 2018 // While consumers understand insurance as protection against financial loss, the industry’s contribution to the economy goes much further. A white paper from the industry’s Insurance Information Institute argues...
J.D. Power: Why Lemonade’s Policy 2.0 Matters
Jun 18 2018 // Recently insurtech start-up Lemonade launched a product initiative called Policy 2.0. According to Lemonade, it will simplify the language within a standard insurance policy so insureds can easily understand what is and is...
Texas Insurance Wholesalers Find Strength in Independence, Relationships
Jun 15 2018 // There’s no denying the robust mergers and acquisition trend among wholesale brokers in the property/casualty insurance industry nationwide, and Texas is no exception. But some Texas wholesale brokers and managing...
Cyber Business Interruption Remains Area of Uncertainty for Insurance
Jun 12 2018 // Although the insurance industry may have had plenty of time to wrap its mind around managing physical property threats, what about the newly growing area of non-physical threats? Panelists at the 2018 PLUS Cyber Symposium,...
Here’s What’s to Expect for Global Commercial Insurance Market Growth
Jun 8 2018 // Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017 and by 2021 will rise to almost $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in 2017...
How Insurance Boosts Economy, Communities and Innovation: I.I.I.
Jun 7 2018 // While consumers understand insurance as protection against financial loss, the industry’s contribution to the economy goes much further. A white paper from the industry’s Insurance Information Institute...
Congress Could Shrink Federal Insurance Office
Jun 5 2018 // Congressional efforts to curtail the federal government’s involvement in insurance regulation continue this week as a House panel is scheduled to consider a measure to trim the sails of the Federal Insurance Office...
J.D. Power: Why Lemonade’s Policy 2.0 Matters
Jun 5 2018 // Recently, well-known insurtech start-up, Lemonade, announced the launch of a new product initiative called Policy 2.0. According to Lemonade, the project is meant to simplify the language within a standard insurance policy...
People
Jun 4 2018 // Smart Choice has named Chris Reisdorf, formerly of All Risks, to lead the company’s efforts in North Carolina as state director. A 25-year veteran of the insurance industry, Reisdorf has worked in a number of areas...
South Carolina Passes First Insurance Industry Cybersecurity Law
Jun 4 2018 // South Carolina has become the first state to pass a model cybersecurity bill requiring any insurance entity operating in the state to establish and implement a cybersecurity program protecting their business and their...
Cyber Market Grew 32% But Small-Medium Firms Opted Out
Jun 4 2018 // The U.S. market for cyber insurance grew significantly in 2017, as direct premiums written rose nearly 32 percent year-over-year to $1.8 billion, and policies in force jumped 24 percent to 2.6 million, according to an A.M....
Louisiana Homeowners Insurance Market More Competitive, LDI Says
Jun 4 2018 // The Louisiana Department of Insurance says the state’s homeowners insurance market is much more competitive these days than it was a decade ago. The LDI reported in its 2018 Agency Snapshot that in 2017, the...
People
Jun 4 2018 // Doug Slape has been promoted to second-in-command at the Texas Department of Insurance. Slape has been at the agency since 1988 and has served as deputy commissioner for the Financial Regulation Division the past three...
Some Texas Insurance Wholesalers Find Strength in Independence
Jun 4 2018 // There’s no denying the robust mergers and acquisition trend among wholesale brokers in the property/casualty insurance industry nationwide, and Texas is no exception. But some Texas wholesale brokers and managing...
