Markets
Signals ‘Promising’ for Florida Reforms’ Impact, Reinsurance Still a Drag
Analysts with the AM Best financial rating firm and other stakeholders are cautiously optimistic about the resurrection of the Florida property insurance market, 18 months after state lawmakers ...
American National Exiting Homeowners Insurance Market
Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all ...
Nationwide Pet Shedding 100,000 Policies
The leading pet insurer in the U.S. said it is dropping about 100,000 policies starting this ...
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 ...