Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates "are expected to increase, but not at the same pace as seen in ...
Markets
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, but improved from 2023, a report by Swiss Re ...
Federal Reinsurance for Cats: No Thanks, APCIA Says
Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers' issues with growing private reinsurance costs. But a trade group for carriers ...
Connecticut Extends PTSD Benefits to All Under Workers Comp
The new year brought with it an expansion of Connecticut's workers compensation benefits with regard to post-traumatic stress injuries or disorders (PTSD). Prior to January 1, only first responders ...
Should Carriers Worry About Workers Comp? Yes and No
Commercial lines outlooks are stable, rating agencies say, pointing to the bright spot of continuing profits in the workers compensation line. In addition, in early January 2024, NCCI confirmed that ...
Added Protection or Opportunity Lost? New Independent Contractor Rule Issued
The U.S. Department of Labor on Jan. 9 issued a final rule, more than a year in the making, on the definition of an independent contractor. First proposed in October 2022, the rule provides guidance ...
Specialty Insurer RLI Ranks Among Best Places to Work: Glassdoor
Listed between technology companies Google and Cisco Systems, Peoria, Ill.-based RLI Corp. is among 100 large U.S. companies being recognized by Glassdoor as one of the best places to work in 2024. ...
When Higher Pricing <> Underwriting Profit or Double-Digit Returns
In spite of premium increases that primary insurance carriers will record for 2023, the U.S. property/casualty industry as a whole won't report an underwriting profit or a double-digit return for the ...
North Carolina Home Insurance Premiums Could Rise by 42%
Another round of setting homeowner insurance policy rates in North Carolina has begun with the industry seeking a 42.2 percent average statewide premium increase that would begin in the summer. The ...
CMT Study Reveals Significant Link Between Telematics Program Engagement and Crash Reductions
User engagement in telematics programs plays a crucial role in reducing road risk, reveals a new study from Cambridge Mobile Telematics (CMT).