Markets
We’re Done: State Farm Decides to Stop Taking New Calif. Homeowners Biz
The nation's biggest insurer, State Farm, announced late last week that its homeowners provider to the nation's most populous state will no longer accept new applications there. State Farm General ...
Louisiana Blueprint: How to Repair Florida’s Home Insurance Market
Florida's home insurance market has been in crisis for years, and recent tort reform aims to reduce claims costs by putting an end to frivolous lawsuits, a welcome development in a state where ...
Florida Reinsurance ‘More Orderly’ as Defense Costs Begin to Ease, Analysts Say
With the June 1 reinsurance renewals a week away, the outlook for Florida-based property insurers may not be quite as dire as many had predicted earlier this year, at least according to a top ...
NOAA: Average Hurricane Season Predicted for the Atlantic
During a press conference today, the National Oceanic and Atmospheric Administration (NOAA) announced its forecast for the 2023 Atlantic Hurricane season. The 20th anniversary of Hurricane Isabel, a ...
P/C Insurers Impress Shoppers With Digital Channels, But Servicing Existing Customers Lags
Though insurers do a good job attracting new customers shopping for policies via their digital channels, they fall short when it comes to servicing existing customers, a new industry report shows. ...
Drivers Are Shopping, Swapping Auto Insurance Policies at Record Pace
Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17 percent over the same period in 2022, and a record-breaking ...
AIG to Sell Validus Re to RenRe in $3B Deal
American International Group (AIG) said late Monday it has entered into an agreement to sell Validus Re to RenaissanceRe Holdings for about $3 billion, mostly cash. The deal, expected to close during ...
Marsh: Cyber Insurance Purchases Climb After Rocky Couple of Years
Stricter policy language, pricing increases and more scrutiny at policy inception made for a tumultuous couple of years in the cyber insurance market. Despite this, 36 percent of Marsh's clients ...