All the headlines from our Carriers Topic Page, ordered by recency.
Jun 17 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report.The Best’s Special...
Jun 17 2024 // For years, newly organized reciprocal insurers were few and far between and were not the preferred vehicle for new entrants to the insurance space. In fact, at one time, a prominent state insurance regulator refused to...
Jun 17 2024 // Starting July 1, Florida insurance agents must have at least three appointments with authorized carriers before they can sell policies for the state-created Citizens Property Insurance Corp.That’s the mandate laid...
Jun 17 2024 // The Pennsylvania Insurance Department (PID) has reminded insurers of their obligation to conduct a physical inspection to confirm the type and extent of damage to a roof supposedly evidenced by aerial imagery.The...
Jun 13 2024 // Alameda County District Attorney Pamela Price’s Consumer Justice Bureau has sued multiple home insurance carriers in California, including Farmers Insurance Exchange, alleging they’re operating a scheme that...
Jun 12 2024 // The U.S. property/casualty industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, according to a recently published AM Best report.The gain marks a reversal of an $8.5 billion loss...
Jun 12 2024 // Executive Summary: While insurance leaders plan to use machine learning capability in their pricing and underwriting processes, only a small proportion actually have embraced the technology. They need to take the next step...
Jun 7 2024 // Louisiana Insurance Commissioner Tim Temple recently met with 20 property and casualty insurers ahead of this year’s Atlantic Hurricane Season to make sure insurers are prepared to handle claims following a hurricane...
Jun 7 2024 // Global insurers plan to invest further in the coming years in the growing but opaque private credit market, according to a new report by Moody’s Ratings.In a survey this week of the world’s largest insurers,...
Jun 6 2024 // A new Rhode Island law prohibits auto insurers from charging policyholders more solely because they have been widowed.The new law bans insurers from treating widows or widowers any differently than married people in terms...
Jun 6 2024 // Although insurers can help to stop the growth of social inflation, they can’t lead the effort, an industry executive said during an insurance conference this week.Evan Greenberg, chair and chief executive officer of...
Jun 6 2024 // Liberty Mutual Insurance is pushing for a federal judge in New Jersey to recuse himself from a construction insurance case because he did not disclose that he has been a long-time Liberty insured, a significant claimant,...
Jun 5 2024 // AM Best has downgraded the Financial Strength Rating to B (Fair) from B+ (Good) and the Long-Term Issuer Credit Rating to “bb” (Fair) from “bbb-” (Good) of Farm Bureau Mutual Insurance Company of...
Jun 5 2024 // Just under half of property/casualty insurers recently surveyed by WTW say they plan to incorporate artificial intelligence into their analytics (49%), but most have yet to bring “traditional” analytics into...
Jun 4 2024 // Insurers are preparing for an above-average loss event as a result of floods in southern Germany.“The pictures from Bavaria and Baden-Württemberg foreshadow the worst. Our companies are already receiving many claims...
Jun 3 2024 // Desjardins Group and The Insurance Company of Prince Edward Island (ICPEI) have confirmed that the transaction announced in March 2024 has closed.Financial details of the deal were not disclosed. With this acquisition,...
Jun 3 2024 // The Florida Association of Insurance Agents, the largest agent group in the state, this spring took the unprecedented step of investing in a startup insurance carrier, a move designed to help keep agents in the game and...
Jun 3 2024 // Current and former leaders with Florida property insurers have had some strong reactions to state regulators’ recent efforts to oust company executives who previously helmed now-insolvent carriers. Some have called...
Jun 3 2024 // Cracked steel columns are not “property damage,” but are building products that are not covered by a contractor’s general liability policy, the U.S. 7th Circuit Court of Appeals decided in an opinion that...
May 31 2024 // The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report.The Best’s Special...