Markets
Report: California Workers Comp Combined Ratio Highest in 14 Years
Written premiums in California stabilized in 2022 through 2024 after the large swings during the pandemic, while the accident year combined ratio rose to the highest level in 14 years, a new report ...
Zurich NA Names New U.S. National Accounts, Underwriting Leaders
Zurich North America announced key leadership changes in connection with the impending retirement of Paul Lavelle, previously head of U.S. National Accounts. Heather Fox moves into that role, leading ...
Georgia Becomes Second State to Shield Bayer From Roundup Cancer Claims
In a victory for global agrochemical maker Bayer, Georgia has become the second state to shield pesticide manufacturers from some lawsuits claiming that they failed to warn customers of potential ...
At RIMS, Sedgwick Experts Outline Key Workers Comp Claims Trends
At last week's RIMS RISKWORLD conference in Chicago, two experts from risk and claims administration partner Sedgwick outlined a few key workers compensation trends worth ...
Too Late? S&P Downgrades State Farm General (Updated)
Standard & Poor's Global Ratings announced a two-notch downgrade of State Farm General on May 13—on the same day that California's regulator approved an interim emergency homeowners rate ...
State Farm’s Emergency Homeowners Rate Hike Gets OK in California
State Farm General can move ahead with a proposal to raise California homeowners rates on an emergency interim basis, following years of financial stresses that depleted its surplus and billions of ...
2024 P/C Insurance Combined Ratio: Best in More Than a Decade
With combined ratios for personal and commercial lines landing only 0.4 points apart last year, the property/casualty insurance industry's aggregate 2024 combined ratio was 96.5—marking the lowest ...
Bermuda Absorbed $10B of California’s Wildfire Losses
According to data collected by the Bermuda Monetary Authority, Bermuda's insurers and reinsurers expect to pay nearly $10 billion in gross claims to U.S. policyholders and cedents for claims from the ...