Markets
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 ...
Loss-Impacted U.S. Programs Among Those Seeing Biggest 1/1 Prop. Cat Re Price Hikes
While the reinsurance market indeed stabilized during the January 2024 reinsurance renewals (from the chaotic January renewals of last year), buyers with loss-affected programs experienced further ...
U.S. Property Reinsurance Rates Rose Nearly 50% for Some on Jan 1
U.S. property catastrophe reinsurance rates rose by as much as 50 percent on the key Jan. 1 renewal date, broker Gallagher Re said in a report on Tuesday, as reinsurers look to recoup losses from ...