Markets
25 Straight Quarters of Premium Increases for Commercial Lines: CIAB Survey
Overall commercial property/casualty premiums increased slightly for all account sizes to 7 percent on average in the fourth quarter of 2024, continuing a trend that has now last more than six years. ...
Florida OIR Approves Another 54,000 Citizens Takeouts; More Coming if Bills Pass
Florida's Insurance Commissioner last week approved another round of takeouts from the state-created Citizens Property Insurance Corp., with assumption dates in May. That brings the total takeouts ...
Executives Deliver Divergent Views on Sustainability of Workers Comp Profits
Property/casualty insurance industry leaders delivered two different views on whether workers compensation will continue to be a bright spot on the industry profit picture during an investor ...
U.S. Insurers Face Challenges as Spike in Ratings Actions Expected to Continue
Negative ratings actions and financial challenges are forcing carriers to explore reinsurance options offering needed capital, according to a report released last month by Gallagher Re's Strategic ...
State Farm Underwriting Loss Climbs to $14B
When State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant's history. A year later, and another record. The underwriting loss figure climbed to ...
Profit Recovery Will Vary Among U.S. Personal Auto Carriers: Fitch
Fitch Ratings said it expects underwriting results for U.S. personal auto insurer to continue to improve this year but the pace to profitability will vary. Auto insurers Progressive and GEICO were ...
Toyota Recalls 381,000 Tacoma Pickups Due to Rear Axle Parts That Could Fall Off
Toyota is recalling about 381,000 Tacoma midsize pickup trucks in the U.S. because a part can separate from the rear axle, increasing the risk of a crash. The recall covers certain trucks from the ...
Destination Progressive… or One of These Other Carriers
Commissions are more certain than insurance losses. Those aren't exactly the words that a Progressive executive used when he described the work the insurer has been doing to help customers meet all ...