Reinsurance

The vast majority of domestic specialty carriers put the size of the program business market at $20 billion or over in a recent survey, and a third of the respondents believes the market is over $40 billion.

Implementation of the federal law streamlining multistate taxation and regulation of business placed in the E&S market is rapidly morphing into an intense confrontation between industry representatives and state regulators.

For the most part, participants in the excess and surplus lines industry expect a replay of 2010 market conditions in 2011.

The battle with state insurance regulators over implementation of the surplus lines modernization law has begun as several insurance trade groups voiced strong objections to the National Association of Insurance Commissioners' proposal.

The international markets present a number of opportunities for an industry that is rich in capital and looking for growth, a Guy Carpenter executive said here.

Insurance brokers placing commercial lines business say they see no sign of a market turnaround anytime soon.

Three more foreign reinsurers--all based in Bermuda--have reached agreements with the Florida Office of Insurance Regulation to participate in the state's insurance market under modified regulatory terms.

The Florida Office of Insurance Regulation has signed agreements with three Bermuda-based reinsurers to participate in Florida's insurance marketplace under modified regulatory terms.