Personal Lines
Upgrades Up, Downgrades Down: AM Best Reviews 2024 Rating Actions
AM Best announced 34 upward credit rating actions for U.S. commercial lines insurers in 2024, over 60 percent more than the number registered for 2023, the rating agency reported in its official ...
California Commissioner ‘Provisionally’ OKs State Farm’s Rate Request
California Insurance Commissioner Ricardo Lara provisionally approved State Farm General's request for a 22 percent interim rate hike, the California Department of Insurance announced on Friday. The ...
Updated: State Farm, Consumer Group Battle Ahead of Commish Decision
Ahead of a decision from California's insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their ...
Berkshire, Progressive Are 2024 Underwriting Profit Leaders; Industry Income Record
S&P Global Market Intelligence expects the U.S. property/casualty insurance industry to post more than $100 billion of net income for 2024—and that the biggest underwriting profits contributing ...
Despite Higher Insurance Costs, Risks, EVs Are Set to Dominate Roads in 2025
More car buyers are leaning toward purchasing an electric vehicle over a gas powered one, with 64 percent of consumers expected to choose an EV for their next vehicle, according to a report published ...
AmFam Reports Underwriting Profit for 2024
After two years of combined ratios over 110, American Family Insurance reported an underwriting profit in 2024—with a 96.6 for the year for all property/casualty lines it writes. The improvement ...
Wildfire, Hurricane Rebuilding Efforts Impeded By Tariffs: APCIA
American Property Casualty Insurance Association issued a statement on behalf of P/C insurance company members on Tuesday, the day that 25 percent tariffs on most goods from Canada and Mexico took ...
Progressive’s Margins Leave Room for Tariff Impacts; Others Ready Too
With its 2024 combined ratio falling comfortably more than 7 points below a targeted level of 96, Progressive has room to deal with the impacts of tariffs on car repair and replacement costs, the ...