Insurance markets have evolved over the years to become increasingly global, interconnected, and convergent — a trend that will undoubtedly continue in years to come. The National Association of Insurance Commissioners (NAIC) is committed to coordinating with our regulator colleagues …
The property/casualty industry appears to have sufficient reserves, but older reserves continue to develop adversely in 2011, according to analysis by Conning Research & Consulting. “Our view of the property/casualty insurance industry reserve position is that it has deteriorated slightly …
Private U.S. property/casualty insurers’ net income after taxes rose to $10.1 billion in first-quarter 2012 from $7.8 billion in first-quarter 2011, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus climbing to 7.2 …
More than 25 percent of independent agency owners and principals are planning to retire or change careers and sell their firms sometime in the next five years, according to a new survey that explores agent attitudes about insurance companies, conducted …
Like the economy, the workers’ compensation market has suffered in recent years. Results for 2011 were no better than 2010. The good news: results for the workers’ comp market were not worse either. The combined ratio held steady at 115 …
Insurers’ reserves were redundant at year-end 2011 by $11.7 billion – or 2 percent of total booked reserves – compared with $22.0 billion at the year-end of 2010, after the industry released $12.7 billion of reserves during 2011, according to …
Insurers writing homeowners coverage in Florida could see a revision in their financial ratings after one of the nation’s top rating companies announced it will reconsider them in light of the financial problems faced by the state-back reinsurance facility. A.M. …
Approximately one year ago, on Sunday, May 22 at about 5:30 p.m., Joplin, Mo. was devastated by a massive EF 5 tornado that at times was one mile wide and traveled on the ground for more than 20 miles. This …
The challenges of today’s economy appear to be driving some independent agents into new niche insurance markets and product lines. Almost 60 percent of independent agents say they have begun to or plan to expand into new business lines, according …
A heightened focus on insurance regulation as well as exposures related to reputational risk are top concerns for insurance executives today, reports a new survey. Nearly a third of executives responding to a survey conducted by Lloyd’s at the recent …
