Markets
Why the LA Wildfires Should Not Have Been a Surprise Loss
The January 2025 LA Wildfires caused unprecedented losses, but those losses should have been anticipated by insurers. The purpose of catastrophe models is to prepare insurers for losses that haven't ...
Surplus Lines Premium Growth Slowed to 12% in 2024
The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & ...
Uber Alleges Fraud Scheme by New York Groups Faking Car-Crash Injuries
Late last month, ridesharing giant Uber Technologies Inc. filed a racketeering lawsuit against a group of law firms, doctors and pain-management clinics it claims staged fake car accidents and ...
Growth of Pet Insurance Continues as Market Could Reach $4.5B
Any pet owner who has been hit by sticker shock at the vet's office understands why pet insurance is a booming business. Pet health insurance purchases have been up over the last several years, ...
Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh
Global commercial insurance rates fell 2 percent in the fourth quarter of 2024 following a 1 percent decline in Q3 2024 — marking the second consecutive quarterly decrease following seven years of ...
Bringing Positive Vibes Back to Personal Lines Insurance
Nationwide's Casey Kempton has a vision to bring positive vibes back to engagements between personal lines insurers and their customers—and it starts with understanding ...
Markel’s Board Commencing Review of Go-Forward Business Structure
In spite of reporting operating earnings of $3.7 billion for 2024, Markel Group announced that the holding company for insurance and other businesses has decided to conduct a review of its business, ...
USAA Becomes 3rd Insurer to Report $1B-Plus in LA Wildfire Losses
USAA has paid out more than $1 billion for the Los Angeles wildfires, making it the third insurer to report $1 billion or more in payouts for the destructive blazes that burned thousands of ...