Benzinga  Jul 29  Comment 
CVS Health Inc. (NYSE: CVS) and Adapt Pharma today revealed a fresh alliance to make the opioid overdose-reversing drug NARCAN Nasal Spray more affordable for patients without insurance at CVS Pharmacy locations. According to the company, with the...
The Hindu Business Line  Jul 29  Comment 
The unclaimed amount of policyholders with insurance companies (both life and non-life) has reached around ₹11,668 crore as on March 31, 2016, Parliament was informed on Friday. “There are unclaime...
Insurance Journal  Jul 29  Comment 
The Wisconsin Supreme Court has put to a rest a case in which an insured alleged breach of faith when the insurance company that wrote his professional liability errors and omissions insurance policy denied coverage due to a policy exclusion....
Insurance Journal  Jul 29  Comment 
Amid ups and downs, the construction market has nevertheless enjoyed steady growth over the past four years. Now construction insurance specialists believe the market is really heating up. The competition has carriers maintaining a market...
Insurance Journal  Jul 29  Comment 
Manulife (International) Ltd. and QBE Hongkong & Shanghai Insurance Ltd. have formed an exclusive distribution agreement whereby QBE will supply general insurance products in Hong Kong for distribution through Manulife’s agents. Designed to...  Jul 29  Comment 
PARIS (dpa-AFX) - French insurer AXA Group (AXAHY.PK) Friday announced that it has agreed with Chinese e-commerce giant Alibaba Group Holding Ltd. (BABA) and Ant Financial Services, an Alibaba-affiliate which provides financial services, to engage...
Insurance Journal  Jul 29  Comment 
Regulatory representatives from the U.S. and China met this week to discuss issues facing their respective insurance markets. The meeting was held at the National Association of Insurance Commissioners (NAIC) New York office. According to the...
Insurance Journal  Jul 29  Comment 
The Crichton Group, an independent insurance agency in Middle Tennessee, has promoted industry veteran Dan Hite to the position of partner and vice president. Previously, Hite served as commercial insurance advisor for the agency. In his new role,...
Insurance Journal  Jul 29  Comment 
Wesley J. Kinder was a California insurance commissioner who served during a turbulent time. Kinder, a resident of La Habra, Calif., died Wednesday at age 94. “He was a great guy. He was the best boss,” said Roger McNitt, a San Diego-based …
Insurance Journal  Jul 28  Comment 
Texas officials say a Houston attorney has pleaded guilty at the conclusion of a multi-year investigation into a criminal organization that set up fake auto accidents and medical bills. Investigators with the Texas Department of Insurance, the...


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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