Content from Chad Hemenway
State Farm Will Start Hiking Auto Rates, Allstate CEO Predicts
Allstate's chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier's largest mutual competitor—State Farm—to move ...
Many InsurTechs Exit the Marketplace, and Other 2023 Predictions From Forrester
More than a quarter of InsurTechs will leave the insurance marketplace in 2023 — just a couple years after investments in the space were at an all-time high, according to predictions from research ...
U.S. E&S Premiums Continue Growth in 2022: S&P
According to an analysis by S&P Global Market Intelligence, the U.S. excess and surplus market continued to grow in 2022, surging $37.6 billion in premiums during the first six months. Direct ...
NAIC Adds ‘Deep Concerns’ to FIO Bid to Collect Climate Change Data From Insurers
In a letter to the Treasury's Federal Insurance Office, the National Association of Insurance Commissioners expressed its "deep concern" over a proposal to collect data on climate-related risks from ...
Insurers Challenge Boy Scouts $2.5B Bankruptcy Approval Alleging Abuse
A group of insurers—including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers—are challenging an approval of the Boy Scouts of America's $2.46 billion bankruptcy ...
Allstate Q3 Net Income in the Red; Continues Efforts to ‘Restore Property-Liability Margins’
Allstate Corp. said it recorded a third-quarter net loss applicable to common shareholders of $694 million compared to net income of $508 million a year ago during the same time. Allstate's Q3 ...
Property Market to Harden More: MMC’s Doyle
While the total impact of Hurricane Ian won't be realized for some time, the effect on an "already stressed property market will be significant," said John Q. Doyle, group president and chief ...
Industry Trades Respond to FIO’s Proposal to Collect Climate Change Data
Shortly after Treasury's Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate risk, the response from industry trade ...