New York Times  Nov 20  Comment 
Concerned about an adverse effect on choice and price in medical care, consumer advocates and antitrust experts want state insurance commissioners to weigh in on two major merger proposals.
Insurance Journal  Nov 20  Comment 
Clark Insurance, an independent insurance agency based in Portland, Maine, has hired David Nadeau as account executive for the agency’s Business Insurance Department. Nadeau most recently worked as account executive at Riley Insurance Agency in...
Insurance Journal  Nov 20  Comment 
MNsure has tapped its interim leader to run the health insurance exchange permanently even though she didn’t apply for the job. The health insurance exchange’s board selected Allison O’Toole to remain at the helm. She was chosen over health...
Benzinga  Nov 20  Comment 
"For more than 75 years, Anthem has helped individuals to access and finance quality healthcare," said Joseph R. Swedish, President and Chief Executive Officer, Anthem. "As a leader during this time of unprecedented transformation in healthcare,...
Insurance Journal  Nov 20  Comment 
One of the top Republican leaders in the Arizona House wants to accelerate cuts to insurance company taxes that were included in a bill he sponsored. Majority Whip David Livingston of Peoria has filed a bill for the upcoming session …
Insurance Journal  Nov 20  Comment 
Britain’s biggest insurers will be exempt from having their most important indicator of financial health externally audited under proposals issued by the Bank of England on Friday. New European Union rules will require British-based insurance...
The Hindu Business Line  Nov 20  Comment 
Kotak Mahindra General Insurance announced that it has been granted the certificate of registration (Form IRDA/R3) to commence business as an Indian Insurance company. With this, the com...  Nov 20  Comment 
WASHINGTON (dpa-AFX) - ACE Limited (ACE) announced the senior leadership team it intends to appoint for the new Chubb Group's Overseas General Insurance division. The leadership appointments will all take effect upon completion of the...  Nov 20  Comment 
The Affordable Care Act has presented a new set of money conundrums but I no longer feel I’m playing Russian roulette with my health and my finances Winter is almost upon us and with it another test for Obamacare. No, it hasn’t proved a...


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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