Personal Lines
DeSantis Turns Heads With Comment That Citizens Insurance ‘Not Solvent’; Board Approves Cat Bond
Florida Gov. Ron DeSantis raised some questions Friday when he suggested that Citizens Property Insurance Corp., the state-created insurer, has "not been solvent" and may be unable to pay all claims ...
Scratched EV Battery? Your Insurer May Be Forced to Junk the Whole Car
For many electric vehicles, there is no way to repair or assess even slightly damaged battery packs after accidents, forcing insurance companies to write off cars with few miles — leading to higher ...
Heavier Vehicles, Distracted Drivers Impacting Claim Severity: CCC Intelligent Solutions
Roadways in the U.S. are carrying heavier, more powerful vehicles operated by motorists who are older, driving faster and more often distracted, according to CCC Intelligent Solutions' annual Crash ...
American Family Insurance Group Underwriting Loss Triples to $1.5B in 2022
Earlier this week, American Family Insurance report a 2022 net underwriting loss of $1.5 billion in its property/casualty lines, up from an underwriting loss of $460 million in 2021. The company ...
Telematics Master Class: How Progressive Offers Competitive Prices
During an investor conference last week, Progressive's leader revealed some subtle wording changes to the company's purpose and vision. Unchanged, however, are four pillars of Progressive's strategy, ...
Allstate Not Turning Up Ad Spend Yet: CFO
During an investor conference on Monday, the chief financial officer of Allstate confirmed that the company isn't ready to ramp up its marketing spend to grow its personal auto book just yet, even ...
The Math of Homeowners Deductibles
People who work in the insurance industry probably buy homeowners policies with high deductibles, an industry investor-turned-InsurTech-founder told Carrier Management recently. They understand the ...
Birth of a Unicorn: How Branch’s Founders Turned Noes Into Yeses
Like most startups, the founders of unicorn Branch faced some early setbacks. In a word, the process was "intense," according to Steve Lekas, co-founder and CEO of the InsurTech, which bundles home ...