RECENT NEWS
The Economic Times  3 hrs ago  Comment 
An account holder is entitled to an accidental insurance cover of Rs 1 lakh and an additional life insurance cover of Rs 30,000.
Wall Street Journal  4 hrs ago  Comment 
A hacker broke into the HealthCare.gov insurance enrollment website in July and uploaded malicious software, but there was no evidence consumers' personal data was taken.
Insurance Journal  5 hrs ago  Comment 
A blood-red blotch that stains California kind of looks like its own nation slowly overgrowing the Western region of the U.S. map. Despite the gore, the latest version of the U.S. Drought Monitor map just out today actually looks slightly...
Insurance Journal  5 hrs ago  Comment 
A new report from Connecticut state auditors said the state’s Workers’ Compensation Commission (WCC) improperly charged $450,000 to workers’ comp insurers and self-insured employers last fiscal year to recoup the money transferred to the...
The Economic Times  6 hrs ago  Comment 
An account holder is entitled to an accidental insurance cover of Rs 1 lakh and an additional life insurance cover of Rs 30,000.
MarketWatch  7 hrs ago  Comment 
The Financial Stability Oversight Council said Thursday it has determined that a non-bank is systemically important, but declined to name the firm. Heading into the meeting, expectations were that insurance company MetLife was the subject of the...
MarketWatch  9 hrs ago  Comment 
Congress should reform the sweeping bank reform law and give the Federal Reserve and the Federal Deposit Insurance Corp. more leeway to fight financial crises, a group of experts said Thursday.
DailyFinance  10 hrs ago  Comment 
Jardine Lloyd Thompson Group plc (“JLT”) one of the world’s leading providers of insurance, reinsurance and employee benefits related advice, brokerage and associated services, is delighted to announce the appointment of...
The Hindu Business Line  10 hrs ago  Comment 
United India Insurance Co believes the market holds tremendous scope for growth — particularly in the auto and retail health portfolios. The rural market is even more attractive, says Mi...
Insurance Journal  11 hrs ago  Comment 
A church in the small Texas city devastated by a fertilizer plant explosion is funding an emergency alert system for the town’s residents. The system will allow West officials to deliver an automated phone message to residents in the case...




 
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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