Commercial Lines
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 & ...
Uber Alleges Fraud Scheme by New York Groups Faking Car-Crash Injuries
Late last month, ridesharing giant Uber Technologies Inc. filed a racketeering lawsuit against a group of law firms, doctors and pain-management clinics it claims staged fake car accidents and ...
Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh
Global commercial insurance rates fell 2 percent in the fourth quarter of 2024 following a 1 percent decline in Q3 2024 — marking the second consecutive quarterly decrease following seven years of ...
TPL – What?!? Consumers Unfamiliar With Plaintiffs’ Bar Strategies
While liability insurance claims professionals are very familiar with the terms "third-party litigation funding" and "jury anchoring," there aren't many average Americans who recognize those phrases, ...
‘Underwriting Choices’ Added to Everest’s Social Inflation Woes: CEO
Social inflation wasn't the only factor that pushed the loss severity on the U.S. casualty book of Everest Group Ltd. up high enough to prompt a $1.7 billion loss reserve charge, the CEO said earlier ...
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 ...
How Competitive Is E&S Property? Exec Views Vary
E&S property insurance market conditions were a recurring talking point on two recent earnings conference calls, but the leaders of specialty insurers offering commentary were not perfectly in ...
Everest Group Boosts Casualty Loss Reserves $1.7B
Everest Group, Ltd. pre-announced full-year 2024 earnings yesterday, disclosing about a 45 percent drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The ...