Personal Lines
Not So Fast: State Farm Didn’t Prove Its Case for Rate Hike, CDI Says
California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22 percent rate request from State Farm, instead calling a meeting with the carrier to get some answers about the ...
Allstate to ‘Lean Into’ Turnaround in Auto Business, and Grow
Allstate's plan to correct its auto insurance business has "restored profitability back to target levels," said the insurer's head of personal insurance. During an earnings call with analysts, Mario ...
FEMA to Borrow $2B to Pay Flood Claims After Hurricanes Helene and Milton
The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders. FEMA, administrator of NFIP, ...
LA Fires: Calif. Insurance Commissioner OKs FAIR Plan Request for $1B Assessment
California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires. The FAIR ...
AM Best Data Insights: FAIR Plan, E&S Growth Soars in California
A newly published AM Best report reveals the extent to which California homeowners policyholders have turned to the state's insurer of last resort and to the nonadmitted market for insurance in ...
Why the LA Wildfires Should Not Have Been a Surprise Loss
The January 2025 LA Wildfires caused unprecedented losses, but those losses should have been anticipated by insurers. The purpose of catastrophe models is to prepare insurers for losses that haven't ...
Growth of Pet Insurance Continues as Market Could Reach $4.5B
Any pet owner who has been hit by sticker shock at the vet's office understands why pet insurance is a booming business. Pet health insurance purchases have been up over the last several years, ...
Bringing Positive Vibes Back to Personal Lines Insurance
Nationwide's Casey Kempton has a vision to bring positive vibes back to engagements between personal lines insurers and their customers—and it starts with understanding the "mental models" that ...