The Council of Insurance Agents & Brokers released today the findings of its third semi-annual Cyber Insurance Market Watch Survey. Eighty-eight (88) respondents from 66 unique firms participated in the survey and provided insights on all aspects of the cyber insurance market from take-up, to premiums and sophistication of their clients’ cybersecurity programs.
Robert L. Cohen, chairman and chief executive officer of The IMA Financial Group Inc., in Denver, Colo., was elected as 2017 Chairman of The Council of Insurance Agents & Brokers, as announced this week by The Council. He succeeds Bill D. Henry, chief executive officer of MHBT/MMA Southwest Region in Dallas, Texas.
The Council of Insurance Agents & Brokers announced today the addition of 12 new member firms, bringing its 2016 year-to-date total to 22.
The Council of Insurance Agents & Brokers applauded H.R. 6159, introduced today by Reps. John Larson and Ed Royce. The legislation is a critical step to clarifying that property/casualty insurance premiums are irrelevant to tax evasion and should not be included as part of the Foreign Account Tax Compliance Act (FATCA). If signed into law, the bill would ease a projected $500 million compliance burden that does nothing to further FATCA’s goals to combat tax evasion.
The Council Foundation, a 501c(3) organization administered by The Council of Insurance Agents & Brokers, today announced the names of 50 college students who will receive $5,000 academic scholarships.
Leader’s Edge magazine announced today plans to publish the “Leader’s Edge 100,” an annual list of the 100 largest insurance brokers of U.S. business.
The Council of Insurance Agents & Brokers has released the results of its Commercial P/C Market Survey for the second quarter of 2016. Rates once again decreased across all size accounts, by an average of -3.9 percent. Rates were down slightly more than the average from Q1, which was a -3.7 percent.
The Council of Insurance Agents & Brokers announced today its alignment with Coloradans for Coloradans to oppose Amendment 69 in the State of Colorado. The ballot initiative, also known as ColoradoCare, threatens to completely dissolve employer-provided health benefits in Colorado by creating a state-operated single-payer health regime. It would also erode the market for workers’ compensation policies that could unintentionally erode workplace safety policies. The amendment would be devastating to consumer choice, threatens quality of care and would cost taxpayers $25 billion.
The Council of Insurance Agents & Brokers released today the results of its Commercial P/C Market Index Survey for the first quarter of 2016. According to survey respondents, commercial property/casualty rates decreased across all size accounts in the first quarter of 2016, continuing a trend in the market since the first quarter of 2015. Rate decreases in Q1 were the largest seen since the trend began, with the exception of large accounts in Q2 2015 which decreased by 5.2 percent compared to the previous quarter.
The Council of Insurance Agents & Brokers has completed its second semi-annual Cyber Insurance Market Watch Survey. Results for the past six months were largely consistent with results from the second and third quarters of 2015.
