Markets
North Carolina Home Insurance Premiums Could Rise by 42%
Another round of setting homeowner insurance policy rates in North Carolina has begun with the industry seeking a 42.2 percent average statewide premium increase that would begin in the summer. The ...
CMT Study Reveals Significant Link Between Telematics Program Engagement and Crash Reductions
User engagement in telematics programs plays a crucial role in reducing road risk, reveals a new study from Cambridge Mobile Telematics (CMT). The study follows the driving performance of 100,000 ...
How Loggerhead Moved to Snap Up 110,000+ Progressive Policies in Florida
In early 2021, former executives with the Auto Club Insurance Co. of Florida, affiliated with AAA, decided to form a new property insurance company in Florida — even before state lawmakers made ...
NCCI: Shifting Workplace, Workforce and Costs Are Top Concerns for Workers Comp Execs
A new survey finds ratings data, changes in the workplace and workforce, medical inflation, and economic uncertainty are top-of-mind concerns for workers compensation insurance executives. The ...
More P/C Carriers With Less Surplus: Aon Ward Analysis
As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a ...
FEMA Adds Nearly $620M to Reinsurance Program
FEMA announced that the agency is transferring $619.5 million more of the National Flood Insurance Program's financial risk to the private reinsurance market as part of its 2024 reinsurance ...
A Return to Balance: Brokers Say Reinsurance Renewals Were ‘Stable’
This year's January reinsurance renewals were described by brokers as "stable," "predictable," "orderly," "calmer," "disciplined," with "increased appetites" and a return to supply/demand balance. ...
Merck Settles Coverage Dispute With Insurers Over War Exclusion in NotPetya Attack
Merck & Co. Inc. has reportedly reached a deal with insurers over a closely watched coverage dispute related to a massive cyber attack in 2017. The New Jersey Supreme Court in July 2023 agreed to ...