RECENT NEWS
Forbes  May 27  Comment 
About three years ago, the stocks of insurance software provider EBIX Inc. (NASDAQ:EBIX) was under attack by short sellers. The company was also the subject of an investigation by the U.S. Attorney General of the Northern District of Georgia....
Insurance Journal  May 27  Comment 
RIC Insurance General Agency Inc. has named Garett Kaneko senior vice president of sales and marketing and Tom Clansen vice president of commercial lines. Both will be based in California. Garett will work out of RIC’s headquarters in Santa Rosa...
Insurance Journal  May 27  Comment 
XL Catlin’s Environmental insurance business has added new protection to its Contractor’s Professional and Pollution Legal Liability insurance to help contractors and environmental consultant clients absorb the costs of fixing an issue or...
Insurance Journal  May 27  Comment 
The Professional Insurance Agents of New York State Inc. (PIANY) said New York State Assembly has introduced a PIANY-drafted bill (A.10378) that would eliminate the need for agents and brokers to take duplicate continuing-education courses for...
Insurance Journal  May 27  Comment 
Advocates, lawmakers, and physicians are calling for the passage of a bill that would provide insurance coverage for all FDA approved contraceptive drugs and products in New York. The Comprehensive Contraception Coverage Act would guarantee co-pay...
Insurance Journal  May 27  Comment 
Missouri’s insurance department has dealt a setback to a proposal by the nation’s third-largest health insurer to buy another insurance company. State Insurance Director John Huff says Aetna’s planned purchase of Humana would sap competition...
Mondo Visione  May 27  Comment 
The United States and the European Union today released the following joint statement on negotiations for a bilateral agreement on insurance and reinsurance measures.  In November 2015, the U.S. Department of the Treasury and the Office of the...
New York Times  May 27  Comment 
IncomeAssure offers coverage that provides half your pretax pay, minus state jobless benefits, for up to 24 weeks.
guardian.co.uk  May 27  Comment 
Agreed sale of investment, pensions and insurance businesses completes exit of Axa from British life and savings market France’s Axa has sold its UK investment, pensions and insurance businesses, including SunLife, to UK insurer Phoenix in a...
The Economic Times  May 27  Comment 
"All pecuniary relationships or transactions of the non-executive directors vis-à-vis the insurance company shall be disclosed in the annual report," Irdai said.




 
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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