Commercial Lines
AM Best: U.S. Cyber Insurance Segment Reflects Hard Market, Profits
Last year marked robust growth in the U.S. cyber insurance market, with direct premiums increasing by 50 percent to $7.2 billion, brought on by better underwriting and improved loss ratios, according ...
Report: Financial Sector Sees Upswing in Ransomware Attacks
Last year, the financial sector became the second most targeted industry for ransomware attacks, with a total of 120 incidents reported, according to a newly released report by NordLocker. The ...
Nationwide Taking Actions to Limit Risk in Personal, Commercial Books
Add Nationwide to a growing list of insurers making changes to deal with losses in some areas of the country. In a June 12 "business actions update" Nationwide announced moves "to mitigate risk and ...
Commercial Insurance Rates Climb Above 5% in Q1 2023
Aggregate price increases of 5.6 percent were reported by commercial lines insurers in the first quarter of 2023, according to WTW's latest Commercial Lines Insurance Pricing Survey (CLIPS). The ...
U.S. Food Manufacturers Show 13% Reduction in Workers Comp Claims
A new report highlights the overall decrease in the total number of injury claims from U.S. food manufacturers post-pandemic. Workers comp claims declined by 13 percent from pre-COVID to ...
Fitch: Hardening Commercial Lines Market to Continue Through 2023
This year will mark the fourth year of a hardening market for commercial lines underwriting cycle, according to the latest U.S Commercial Lines Market Update released by Fitch Ratings.. The Council ...
Despite High Satisfaction Rate, Customers May Still Switch Auto Carriers After a Claim
Though customers may report being very satisfied or satisfied with their overall auto claims experience (94 percent), one-third may still consider switching carriers, according to a newly released ...
Eight Straight Years of Workers Comp Profits: What Could Go Wrong
Workers compensation insurance stands out as the most profitable major U.S. commercial insurance product line over the last five years, bolstered by relative claims stability and enduring loss ...