Personal Lines
More P/C Carriers With Less Surplus: Aon Ward Analysis
As we head into 2024, many property/casualty companies are primed to grow their businesses, but not all have adequate levels of surplus to support premium growth, an Aon Ward executive said during a ...
No Sugarcoating: Availability Before Affordability, Calif. Regulator Says
If the old adage "As California goes, so goes the nation" is true, then 2024 will be another year of industry retooling as insurers and regulators set a path for the future of the U.S. P/C property ...
Saying Goodbye to 2023: When Will California’s Insurance Crisis End?
"Sorry, America, Your Insurance Has Been Canceled" The words were printed on an iconic Time magazine cover from 1986 depicting a bolt of lightning striking a distant American flag positioned at the ...
California Commish Warns Insurers About Auto Insurance Consumer Complaints
California Insurance Commissioner Ricardo Lara issued an official notice to insurers regarding consumers who have been reporting issues obtaining auto insurance coverage. The California Department of ...
Florida Insurers Got Creative About Reinsurance in ’23: KBRA
Things are looking up in the buffeted Florida market, but reinsurance rates will continue to rise for the next two years, and a 2024 hurricane season could be busy. It all suggests that property ...
‘Concerning Trend’ in Auto Theft Rates Pressuring Insurers
Vehicle theft rates continue to put pressure on the personal auto insurance market. CCC Intelligent Solutions said in its year-end report that the number of vehicle thefts in the U.S. increased 2 ...
Mission Accomplished: Allstate Announces Calif., NY, NJ Rate Approvals
The departments of insurance in California, New York and New Jersey approved double-digit auto rate increases for Allstate in three states that the carrier considered exiting in the absence of ...
Worse? Why Personal Auto Loss Ratios Are Even Higher in 2023
Even though direct written premiums for U.S. personal auto insurers soared by double-digits and economic inflation has eased, personal lines underwriting results did not turn around during the first ...