Content from Chad Hemenway
Surplus Lines Premium Growth Slowed to 12% in 2024
The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & ...
Chubb Posts Record P/C Underwriting Income for Q4 and 2024
Chubb posted record property/casualty underwriting income of about $1.6 billion, up 3.8 percent during the last quarter of 2024. Fourth-quarter net income was down 22 percent to about $2.6 billion ...
Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says
The U.S. Treasury's Federal Insurance Office last week released what it called the "most comprehensive data on homeowners insurance in history." Weeks after a U.S. Senate committee released a study ...
Travelers Posts 28% Increase in Q4 Net Income
The Travelers Cos. said fourth-quarter 2024 and full-year net income increased 28 percent and 67 percent, respectively, on strong underlying underwriting results. Travelers posted fourth-quarter net ...
Class Action Settlements Eclipse $40B in 2024; PFAS Suits Emerging
Once again, settlements from class-action litigation topped $40 billion in 2024, according to an extensive analysis of more than 1,400 cases by law firm Duane Morris. Gerald L. Maatman, partner at ...
The Institutes, Kevelighan Fire Back at Retaliation Claims by Former Triple-I Employee
The Institutes and Sean Kevelighan, chief executive of the Insurance Information Institute, deny the allegations of discrimination and retaliation from former employee Michael Barry. According to a ...
Dear Elon and Vivek: Insurance Commissioners Urge DOGE to Ditch FIO
Insurance commissioners from nine states are looking to the new Department of Government Efficiency to do away with the Federal Insurance Office. In a letter, addressed to DOGE heads Elon Musk and ...
Senate Says Climate Is Causing Insurance ‘Crisis’; Industry Strikes Back
The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry ...