Markets
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 ...
J.D. Power: Biggest Auto Customer Satisfaction Drop in 20 Years
One-third (31 percent) of auto insurance customers in the U.S. reported a rate increase in the past year, leading to a growing number participating in usage-based insurance (UBI). This has led to 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 ...
Climate Change and Homeowners Insurance Are on a Collision Course
A summer that already has seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of ...
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 ...
Sources Say Hamilton Insurance Group Mulling Potential IPO, Sale
Hamilton Insurance Group is considering strategic options amid growing momentum for deals involving insurance and reinsurance companies, people familiar with the matter told Reuters. The ...
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 ...
Serious Change Underway at SiriusPoint
SiriusPoint has seen a cluster of challenges over the past two years—ranging from an incomplete merger integration to persistent underwriting and investment losses to ...