On July 9, it became official: The Federal Stability Oversight Council designated American International Group (AIG) as a systemically important financial institution (or SIFI), pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. Two more firmsGE and Prudential Financialwere also named as SIFIs. GE will accept the designation,...
A few years back, I contributed an article (The Coastal Coverage Challenge, October 2008) to American Agent & Broker that outlined some of the numerous challenges agencies face in writing insurance in the coastal areas of the U.S. What has changed since then?
Interest in the catastrophe-bond market is picking up, the investor base is expanding, and non-traditional capacity is pushing down reinsurance-renewal pricing as institutional investors show a willingness to break from price levels set by the traditional market, a new report says.
Fewif anyindustries would seem to face a greater existential threat from the effects of climate change than insurance. As flood waters rise, as hurricanes and tornadoes grow more intense and as droughts last longer, trillions of dollars of insured assets are at risk. In the ugliest scenario imaginable, even the...
For workers compensation insurers, profitability is the greatest near-term challenge, as accident-year combined ratios increase, and uncertainty in employment and medical-claim trends weighs on the sector, according to a recent report.
For workers compensation insurers, profitability is the greatest near-term challenge, as accident-year combined ratios increase, and uncertainty in employment and medical-claim trends weighs on the sector, according to a recent report.