RECENT NEWS
Benzinga  2 hrs ago  Comment 
Perhaps more than any other sector, financial services, the second-largest sector weight in the S&P 500, would like to see the Federal Reserve raise interest rates. Better yet, financial services stocks wouldn't mind multiple rate...
Insurance Journal  3 hrs ago  Comment 
Tokio Marine Holdings Inc. is in exclusive talks to buy RHB Bank’s general insurance unit in a deal that also includes an agreement to distribute the Japanese insurer’s products through the Malaysian lender, people familiar with the matter...
Insurance Journal  11 hrs ago  Comment 
Vicki Lee McGinley, 58, a licensed insurance agent in California, was arrested by the Kern County Sheriff’s department on seven counts of identity theft and seven counts of insurance fraud after allegedly misrepresenting policy and premium...
Insurance Journal  Aug 29  Comment 
The National Association of Insurance Commissioners (NAIC) has appointed Peter L. Hartt, director of New Jersey’s Insurance Division, to a two-year term as the state insurance commissioner representative on the Financial Stability Oversight...
Forbes  Aug 29  Comment 
We have heard about this integration of technology and services that would let data flow seamlessly, so that communication between doctors, patients, insurance companies, pharmacies and the workplace would be unhindered. When first introduced,...
Insurance Journal  Aug 29  Comment 
Insurance payments and traditional federal aid programs won’t be enough to respond to the catastrophic flooding that ravaged tens of thousands of homes across south Louisiana, wrecking entire subdivisions and devastating entire cities....
Insurance Journal  Aug 29  Comment 
A new court decision will keep the public’s eyes from records of an auto insurance fund. The Michigan appeals court says the state Catastrophic Claims Association is a public body, but lawmakers legally carved out an exemption from public...
The Economic Times  Aug 29  Comment 
Since banks have a huge network of branches, insurance companies have tied up with them to sell their products.
Insurance Journal  Aug 29  Comment 
Lockton Insurance Brokers has opened a new commercial insurance operation in Portland, Ore. Andrew McClave has been named producer the office. He has been advising clients on risk management and property/casualty insurance issues for a decade,...




 
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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