Soft market’s effect on premium volume doesn’t have to hinder revenue Premium volume may be down for independent agencies across the country but that doesn’t mean agency revenue is down for some of the nation’s top performing agencies. Diversifying an …
Lloyd’s insurers with exposures on the US East Coast have been told to brace themselves for an above average storm season, with as many as eight hurricanes tearing through the Atlantic. In an article on its web site (www.lloyds.com), Lloyd’s …
Citing increased exposure along the Texas coast, the Texas Windstorm Insurance Association has requested Commissioner of Insurance Mike Geeslin to authorize the purchase of $1.5 billion in reinsurance for the windstorm pool for the 2008 hurricane season. The request represents …
A “well above-average” Atlantic hurricane season with eight hurricanes and 15 named storms entering the basin is predicted for 2008, according to forecasters at Colorado State University’s Department of Atmospheric Science. “We have increased our seasonal forecast from our initial …
Hurricanes pose the greatest act of nature risk to the U.S. insurance industry for 2008, according to EMB, an actuarial consulting firm. With the hurricane season on the horizon, insurers must prepare for this heightened risk, EMB urges. “We’ve seen …
With the United States bracing for big hurricanes this year, new derivatives to trade catastrophe risks offer insurers the extra protection they crave against multi-billion-dollar storms. Trading of “catastrophe derivatives” has begun on several exchanges, allowing insurers to hedge exposure …
Legislation passed by the Florida Senate this week would reduce the amount of state-funded reinsurance that insurers can purchase under the temporary increase in coverage limit (TICL) program. The Senate bill would reduce the amount of optional TICL coverage offered …
As the 2008 legislative session begins and hurricane season approaches, Florida’s businesses and homeowners continue to struggle with the increasing cost of property insurance. The quest for answers to the state’s property insurance crisis has turned into a political tug-of-war, …
Americans in the hurricane danger zone may soon be able to use Google to find out if their own home is threatened by a dangerous storm surge, the director of the National Hurricane Center said Wednesday. Storm surge, the massive …
