Nationwide Pet Shedding 100,000 Policies
The leading pet insurer in the U.S. said it is dropping about 100,000 policies starting this ...
Markets
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5 percent within a typical range of -7.5 percent ...
New Language in California Budget Seeks to Expedite Insurance Rate Filing Approvals
Insurers are praising new trailer bill language in the California budget that promises to expedite the home and auto insurance rate filing approval process. California Gov. Gavin Newsom first made ...
Where the AI Risks Are: Swiss Re’s Top 10 Ranking by Industry
The insurance industry came in sixth in a ranking of 10 major industries based on current AI risk, and seventh based on future risk, with health care replacing IT as the most exposed sector in the ...
AM Best: Rapid Premium Growth Warrants Greater MGA Oversight
Though AM Best remains bullish on the delegated underwriting authority enterprises (DUAEs) market, it remains cautious of the risk managing general agents (MGAs) bring to insurers. In its latest ...
TransUnion: Auto Insurance Shopping Hit 5-Year High in Q1 2024
The number of U.S. consumers who shopped for auto insurance in rose in the first quarter, largely driven by consumers in the West and Midwest. The findings show a continuation of strong growth in ...
U.S. Home Insurers Post Net Combined Ratio Over 110: S&P Global
The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market ...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7 percent on average in the first quarter of 2024. According to The Council of Insurance Agents and ...
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way ...