RECENT NEWS
Insurance Journal  30 min ago  Comment 
A Massachusetts jury has recently awarded $750,000 to a man who suffered severe leg injuries while working for a landscaping business that did not carry workers’ compensation insurance. A lawyer for 52-year-old Jose Hernandez tells The Berkshire...
Insurance Journal  32 min ago  Comment 
As Congress tries to figure out how to change the federal flood insurance program to encourage more private insurer involvement, one insurer isn’t waiting to wade deeper into the private flood insurance business. Florida-based HCI Group is...
Insurance Journal  46 min ago  Comment 
Authorities say a 22-year-old New York woman and three other people have been charged in the killing of the woman’s mother for insurance money. The Wayne County Sheriff’s Office says the suspects include 52-year-old Julie Martin’s daughter,...
Insurance Journal  50 min ago  Comment 
A Middlesex County, N.J., man has been charged with insurance fraud and theft by deception for allegedly impersonating his deceased mother to obtain cheaper renters insurance under her senior-discounted policy and for falsifying claims for jewelry...
MarketWatch  55 min ago  Comment 
A key report due Monday could say up to 22 million more people will be without health insurance if a Senate bill is passed, while Kellyanne Conway has a solution for those who lose insurance.
Insurance Journal  2 hrs ago  Comment 
Spencer Houldin is chairman of the nation’s largest and oldest agents’ association, the Independent Insurance Agents and Brokers of America (Big “I”). He is also co-president of the family-run Ericson Insurance Advisors, an 80-year old...
The Hindu Business Line  3 hrs ago  Comment 
Leading NBFC Sundaram Finance’s subsidiaries engaged in mutual fund, general insurance and home finance businesses have reported impressive performance for 2016-17. The mutual fund arm Sundaram As...
TechCrunch  6 hrs ago  Comment 
 Wefox, the insurance platform that enables customers, insurance brokers and insurance providers to transact and manage insurance products digitally, has acquired One, a fully digital and newly launched insurance provider. Read More
The Hindu Business Line  Jun 25  Comment 
Existing policy holders of Sahara India Life Insurance can continue to pay their renewal premium and get due service from the company. In an order, the Insurance Regulatory and Development Authority ...
The Hindu Business Line  Jun 25  Comment 
The returns are low and financial commitment high




 
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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