Personal Lines
California Regulators Want Insurers to Speed Up Ridesharing Policies
The California Public Utilities Commission wants the insurance industry to get off its duff and start creating some products to offer ridesharing drivers. A proposal issued by CPUC on Tuesday further ...
Heritage Announces Deal for 35,000 Policies of Insolvent Fla. Insurer
Clearwater, Fla.-based Heritage Insurance Holdings, Inc. announced Wednesday that it reached an agreement to offer coverage for the 35,000 policies of Sunshine State Property & Casualty Insurance ...
Industry Loss Reserve Redundancy Disappearing: Aon Benfield Analysis
According to an analysis published by Aon Benfield, loss reserves held by U.S. property/casualty insurers for commercial lines are deficient by $2.8 billion, with workers compensation coming in ...
The Worst Hurricanes Won’t Start Striking Until September, SNL Warns
As far as hurricane season goes, the worst is yet to come, SNL Financial concluded in a recent report. Simply put, while the season officially began on June 1, the worst hurricanes often don't make ...
P/C Carriers Could Counter Hailstorms With More Reinsurance: RMS
Now that hailstorms are no longer "attritional perils" and are much more widespread than they used to be, property/casualty insurers could benefit from adding reinsurance for these threats, an RMS ...
Aon: Storms Packed a Wallop in May Despite Tornado Lull
In May, severe global weather left insurers with mixed data to mull over. While U.S. tornado activity for the month remained in the bottom 25th percentile dating back to the 1950s, major weather ...
UPC to Take Over Policies of Florida’s Insolvent Sunshine State
Florida regulators have taken over an insolvent domestic residential property insurer, but a deal is in the works for another private company to assume the insurer's 37,000 policies. A Leon County ...
Aon Sees a Steady D&O Market Despite Q1 Price Dips
Directors and officers liability insurance pricing dropped nearly 5 percent during the 2014 first quarter compared to the same period a year ago, Aon's Financial Services Group concluded in a new ...