Economy News

European Insurance Forum Examines Industry Changes

The 10th edition of the European Insurance Forum wrapped up proceedings on Tuesday night. The two-day conference, held at Dublin’s Four Seasons Hotel and sponsored by the Dublin Insurance & Management Association (DIMA), focused on some major issues of worldwide …

Leaders at IMF Call for Urgent Financial Reforms

Centre-left leaders from around the world called on Saturday for urgent reform of global financial institutions to prevent a recurrence of the credit crisis. About a dozen leaders, brought together by British Prime Minister Gordon Brown, issued a communique urging …

Mass. Law Blocks State Pension Fund from Starting Bond Insurer

The Massachusetts state pension fund cannot and should not start a bond insurer, executive director Michael Travaglini said Monday. Travaglini, who oversees the $52 billion Pension Reserves Investment Management Board, said pension funds should not be in the business of …

Recession, Soft Market Forcing Western Agents, Brokers to Refocus

Whether the nation is in a true recession may still be up for debate, but it’s difficult to ignore the signs of economic slowdown throughout the West — and its effect on the insurance industry. New home construction is grinding …

Subprime Crisis Reveals Larger Problems in Government Regulation

America is in the midst of a significant financial crisis. A meltdown in the subprime mortgage sector and the resulting credit crunch are threatening to drag down our economy. We applaud the aggressive steps taken by the Federal Reserve Bank, …

Double Whammy

It starts with the housing market. Then it seeps into construction, typically residential followed by commercial. Then it travels to manufacturing, then retail, then hospitality. It differs by region. It might be worse in San Francisco or Las Vegas than …

Subprime Crisis Reveals Larger Problems in Government Regulation

America is in the midst of a significant financial crisis. A meltdown in the subprime mortgage sector and the resulting credit crunch are threatening to drag down our economy. We applaud the aggressive steps taken by the Federal Reserve Bank, …

Take a P/C Soft Market, Throw in a Recession, and Stir

The P/C industry’s chief economist on how agents are affected when a recession coincides with a soft market The following interview with Robert Hartwig, president of the Insurance Information Institute, took place with Insurance Journal‘s Andy Simpson in mid-February. How …

Agents in the East Find Recession Hurts Others More Than Them

How agents from Mass. to Virginia are faring as the economy slows, competition quickens and government changes the rules Agents across New England and the Mid-Atlantic states are worried about how they and their customers will fare as the region’s …

Strategies for Agents in a Recession

Despite soft market conditions and a downturn in the economy, it’s still a good time to be an agent, says Leonard Brevik, president and CEO of National Association of Professional Insurance Agents. “There are a lot of opportunities (for agents) …