Wall Street Journal  2 hrs ago  Comment 
PartnerRe and Axis Capital have sweetened the terms of their merger again to see off a rival takeover offer for PartnerRe from Italy’s Exor. It is Axis investors who may now be feeling short-changed.
Insurance Journal  3 hrs ago  Comment 
An Arkansas town damaged by an April 2014 tornado will receive more than $1 million in federal grant money to build a safe room that will shelter more than a thousand people. Arkansas Sens. John Boozman and Tom Cotton and … The article...
Insurance Journal  3 hrs ago  Comment 
Dozens of parishes in the Twin Cities want the Archdiocese of St. Paul and Minneapolis to pay their costs for settling clergy abuse claims. About 120 parishes want the archdiocese to reimburse them for paying too much into church insurance...
Insurance Journal  3 hrs ago  Comment 
Federal safety officials have found that a Dallas-area steel fabricator has continued to put its workers in harm’s way, despite its awareness of hazards at its Farmers Branch facility. A recent federal inspection that found more than a dozen...
Insurance Journal  3 hrs ago  Comment 
A California water district has accepted Tom Selleck’s offer of more than $21,000 to settle a lawsuit that accused the actor of taking water he wasn’t entitled to for his 60-acre ranch. Directors of the Calleguas Municipal Water District in...
Insurance Journal  4 hrs ago  Comment 
Commuters dealt with dead traffic signals and several businesses were forced to remain closed as crews worked to restore power to thousands in downtown Long Beach, Calif. following three separate fires in underground electrical vaults. Southern...
Insurance Journal  4 hrs ago  Comment 
Insurers for the Southern Baptist Convention have agreed to pay $26 million to a man who was paralyzed and suffered brain damage in a rollover crash during a 2009 missionary trip in Montana, Attorney Anders Blewett said Tuesday. The insurance...
Insurance Journal  4 hrs ago  Comment 
For California workers seeking to be paid for time spent getting bags searched after their shifts end, state law may provide the remedy that federal law doesn’t. On Thursday, a judge in San Francisco said that Apple Inc. store workers … The...
Insurance Journal  Jul 17  Comment 
All-Star Insurance Group Inc., a full service independent insurance agency headquartered in Gilmer, Texas, has promoted George Wolfe to vice president. Wolfe joined All-Star Insurance in March 2011 after eight years with Farm Bureau Insurance in...
Insurance Journal  Jul 17  Comment 
Phoenix, Ariz.-based surplus line wholesaler The Keating Group (tKg), has added Cal Rogers as assistant vice president, broker in its Springfield, Mo., office. Rogers will be responsible for property/casualty production in the Midwest region....


The basics of insurance are simple: one company offers a guarantee future payment for a contracted event. The company offering the guarantee charges a premium for insuring against the event's occurence - in doing so, the insurance company is protecting the client against certain circumstances, say physical capital loss due to a natural disaster. The insurance company assumes all financial responsibility associated with the client’s losses.

Where the business gets complicated is in the calculations of premiums. This involves the use of complex stochastic probabilty models meant to simulate the likelihood of a given event’s occurrence. Not all events are created equal, from an insurance perspective - for some types of insurance a company can accurately predict the probability of occurence (say, automobile insurance, which has such a large sample to study that companies can make accurate predictions and judgments about demographic groups). For events that are harder to predict (say, the future value a Mortgage-Backed Security (MBS)) insurance companies take on greater risk when they issue policies.

The insurance sector itself is segmented into four distinct sub-sectors: Life Insurance, Property & Casualty Insurance, Accident & Health Insurance, and Miscellaneous Insurance.

Insurance Industry Sub-Sectors

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Property & Casualty Insurance

Casualty insurance deals with policies that are written to hedge against the risk of unforeseen accidents. Some examples are insurance policies for auto accidents or losses incurred at sea (Marine Insurance). In general, casualty insurance hedges against risks associated with liability and crime.

Companies within the Casualty and Property Insurance Sub-Sector

Accident & Health Insurance

Health insurance deals with policies that are written to hedge against the risk of unexpected or unexpectedly high health costs. Interestingly, the insurer of health insurance policy can either be from the private sector or the public sector, subsidized by taxes.

Companies within the Accident and Health Insurance Sub-Sector

Financial Guarantors/Assurance

Assurance/guarantor companies provide insurance against default on credit instruments. They collect premiums to insure bonds against defaults and/or losses in value through insurance policies generally called "insurance enhancement products". Some examples are:

Miscellaneous Insurance

Companies within the Misellaneous Insurance Sub-Sector:

Whats Moving the Insurance Sector

Retiring Baby Boomer Generation/Convergence of Insurance Sector and Financial Industry

As the first of the baby boomers are set to retire within the next few years, financial and insurance firms remain pitted in a battle to provide them with financial funds to fuel their retirement. The traditional methods of retirement finance such as social security, 401ks, and corporate pension plans are becoming increasingly riskier as government legislature struggles to find a solution to social security deficits and companies find it harder and harder to meet the promises of current pension plans. Since the lines between financial institutions and insurance institutions has been blurred with the repeal of the 1999 repeal of the Glass-Steagall Act, which restricted the ability of insurance companies to provide financial services, aging baby boomers have become an increasingly attractive market to insurance companies.

To compete with the corporate pensions plans provided by the company, insurance companies are offering annuities to retirees. Annuities come in many, often complex, forms and packages. However, the underlying concept remains the same: purchase of the annuity is made with an upfront lump sum, with the promise of a steady periodic income as long as the contract requires.

Since they're wrikong on a solution already, my guess is that they will not want to bother using SPAAR's data in the interim since it would be for so limited a time.I'm always chomping at the bit for the latest and greatest info so I'll post it as soon as it's available! Reply</a>

Companies in the Insurance Industry (90)

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