Markets
WCRI: 6% of COVID Claimants Treated for Long COVID
A national study by the Workers' Compensation Research Institute found that 6 percent of workers who filed claims for COVID-19 suffered long COVID, meaning they sought ...
How a Regional Carrier Protects Against a $60B California Cat Event
While two dozen interested parties spoke at a recent California Department of Insurance workshop on the use of catastrophe modeling in pricing, offering predictable messages supporting carrier, ...
California’s Next Steps: Picking the Right Cat Models and Staffing Up
Is $11 million too much to pay for a public catastrophe model? Does the California Department of Insurance have to hire a new contingent of specialists to understand private models, if those are ...
Commercial Auto Insurers Face Bleak Profit Outlook
Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. "The liability component has been more ...
FTX’s Bankman-Fried Battles Excess Insurer Over D&O Coverage
Just two days before his criminal trial started this week in federal court in New York, FTX Trading founder Sam Bankman-Fried filed suit in federal court in California against his excess insurance ...
Hawaii Electric’s Insurance is Fraction of Potential Fire Claims
Nearly two months after the deadly Maui wildfires, Hawaiian Electric Co. revealed the limited scope of insurance coverage it holds in the face of potentially billions of dollars in damage claims. ...
Farmers, USAA Lead Pack in Hiking Homeowners Rates in 2023: S&P
Farmers Insurance Group of Cos. and United Services Automobile Association (USAA) have increased homeowners insurance rates by nearly 15 percent each to lead all other ...
Viewpoint: Get Ready Now for the Soft Market (Because It’s Coming)
While discussing soft market underwriting may seem ill-timed given current strong results and hard market conditions, there are worrying signs that underwriters are beginning to chase market share in ...
Independent Agents Are Shopping Premiums Despite Record High Carrier Satisfaction
Independent insurance agents report unprecedented satisfaction with their carrier partners, but that doesn't mean they aren't keeping their options open due to the rising ...