Markets
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 ...
IRC: Home Insurance Spend Tops Household Income Growth
According to the Insurance Research Council (IRC), the average homeowners insurance expenditure has become less affordable for U.S. consumers over time. Looking at the the years 2001 to 2021—the ...
High Court: E-Scooter Rider Hit by Car Not Pedestrian, No PIP Benefits
A man injured when he was hit by a car while he was operating a low speed Segway electric scooter is not entitled to personal injury protection (PIP) benefits under New Jersey's no-fault auto ...
Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Q1 Net Income of $1.1B
Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be ...
Over 700 Tornado Reports Filed in 2024, Above Historical Average: AccuWeather
Approximately 700 preliminary tornado reports have been filed so far in 2024, above the historical average for this time of year, according to AccuWeather Global Weather Center. The roughly 700 ...
Carriers Focus on Renewal Retention as Auto Insurance Buyers Shop
Shoppers in the U.S. aren't ready to accept higher auto insurance rates, choosing to shop around for the best deal and coverage, a new report finds. U.S. consumer auto insurance shopping activity ...
Buffett’s Berkshire Reveals $6.7B Stake in Insurer Chubb
Warren Buffett's Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in ...