Markets
What to Expect: Commercial Insurance Rates Stabilizing, WTW Forecasts
With last year's 25 percent rate hikes for public directors and officers liability insurance dropping to 2.5 percent, and 150 percent hikes for cyber cover sinking to 25 percent, significant ...
Florida Relief Not Immediate: AM Best
Insurance reforms passed in Florida's most-recent legislative special session will lead to much-needed relief to the state's homeowners market, but the impact won't be immediate, AM Best analysts ...
White Mountains Ark Sub Sponsoring Prop-Cat Re Sidecar
White Mountains Insurance Group, Ltd. announced today that Ark Insurance Holdings Limited, its specialty property/casualty reinsurance and insurance subsidiary, has sponsored the formation of a ...
Progressive Reports Favorable Ian Development
Insurer Progressive reduced its estimate of gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian by $400 million, pushing the total down to $1.6 billion. ...
Is the Broken Florida Homeowners Insurance Market Finally Fixed?
Between 2017 and 2022, 11 property and casualty insurers writing mainly homeowners insurance in Florida, where they were domiciled, were declared insolvent and placed in liquidation. This does not ...
Customer Satisfaction With Digital Claims Declines Again: J.D. Power
Customer satisfaction with insurers' digital claims systems declined for the second consecutive year, according to a J.D. Power survey of auto and home policyholders. Mark Garrett, director of P/C ...
Chubb Announces Plans for New Philadelphia Office
Chubb has announced plans for a new Philadelphia office that will occupy a state-of-the-art building to be constructed at 2000 Arch Street. Designed with the highest standards for sustainability, the ...
CyberCube Gets $50M in Financing for Cyber Risk Analytics
CyberCube announced $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors ...