Markel Corp. indicates talk of a hard market may be premature, as insurers are not exhibiting the same underwriting discipline for new business as they are for renewals.
A year ago on May 22, a a tornado with winds of more than 200 mph ripped through Joplin, Mo. The state's insurance director discusses the industry's response since then.
After a series of severe-weather eventsespecially tornadoesin the U.S. in April, global insured losses for the month are close to $1 billion, says Aon Benfield.
The P&C commercial market has officially achieved hard-market status, according to the Council of Insurance Agents and Brokers (CIAB)although some executives at major carriers remain skeptical.
The heat is getting turned up on fraudsters in Texas as the states Department of Insurance is backing the designation of a second county insurance fraud prosecutor and investigator with the aim of adding more in the future.