RECENT NEWS
Insurance Journal  31 min ago  Comment 
ACE Limited reported Q4 operating Income of $827 Million and record full-year Earnings of $3.3 Billion, up 4.7 percent per share. Net income for the fourth quarter ended December 31, 2014, was $1.66 per share, compared with $2.90 per share...
Insurance Journal  34 min ago  Comment 
Willis Group Holdings has published a new analysis from Oxford Analytica in the form of the “VAPOR Political Risk Model,” which, it said, “helps companies assess the financial exposure to a suite of political risks for the first time. As...
Insurance Journal  42 min ago  Comment 
Pacific Ocean La Niña events that trigger droughts in the U.S. Southwest, floods in China and raise the chances for tropical systems in the western part of the basin, as well as in the Atlantic, will likely occur twice as … The article...
Insurance Journal  47 min ago  Comment 
AirAsia Bhd. Flight 8501 climbed to an unauthorized altitude fast and steep before the aircraft fell into the ocean, Indonesian investigators said in their first description of the last moments of the ill-fated plane. From a cruising altitude of...
NPR  2 hrs ago  Comment 
When Blue Shield Of California stopped selling individual health policies in many zip codes in 2014, even insurance agents were surprised. Blue Shield says it dropped out to keep premiums low.
Insurance Journal  10 hrs ago  Comment 
The first nine months of 2014 saw policyholders’ surplus for the U.S. property/casualty insurance industry reach record levels. At the same time, net income after taxes declined substantially and overall profitability took a noticeable dip. As...
Insurance Journal  Jan 28  Comment 
Super Bowl Sunday is among the most dangerous days to venture onto California roads as gatherings for the game at parties or restaurants prompt drivers to consume alcohol. More drinking-related crashes happen in California on the day of the...
Insurance Journal  Jan 28  Comment 
United Insurance, an independent insurance agency headquartered in Falmouth, Maine, announced the acquisition of the Shiretown Agency in Farmington, Maine. Terms of the transaction were not disclosed. United Insurance has 16 Maine locations and...
guardian.co.uk  Jan 28  Comment 
Saga makes move into older biker insurance, as mature female riders shun pillion for hand on throttle It’s not so much a case of Born To be Wild as born to be mild: a new generation of bikers is taking to the road, and they are not...
Insurance Journal  Jan 28  Comment 
Delaware Insurance Commissioner Karen Weldin Stewart today announced the approval of the Delaware Compensation Rating Bureau’s (DCRB) workers’ compensation amended rate filing, resulting in overall average decreases of 9.7 percent in the...




 
TOP CONTRIBUTORS

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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