U.S. Insurance Market Report 2012: Financial Institutions
Published: 31-Jan- 2012 | Comments: 0
Highlights from the financial institutions section of the U.S. Insurance Market Report 2012 include:
- The global economy continues to be a
key concern for financial institutions,
with significant focus on the economic
situation in Europe.
- Companies that need mortgage
impairment insurance must work
through the inability of domestic insurers
to provide adequate limits for flood and
earthquake, and the cost of the coverage
when it is available.
- Concentration of financial institutions’
employees, particularly in New York City,
is an issue in workers’ compensation
insurance costs.
- After accounting for more securities class
action filings than any other industry in
each year from 2007 to 2010, the
financial sector dropped to second place
in 2011, according to NERA Economic
Consulting.
- Insurers are becoming more amendable
to meeting the insurance requirements
for Basel II compliant policies, including
multiyear endorsements.