Personal Lines
Increase in Car Accidents? Blame Weather, Time of Day—Not Pot Decriminalization
Actuarial research released last week suggests that marijuana decriminalization is not associated with a notable increase in traffic accidents or accident severity. Temporal patterns of human ...
State Farm Will Start Hiking Auto Rates, Allstate CEO Predicts
Allstate's chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier's largest mutual competitor—State Farm—to move ...
Florida Special Session Agenda Calls for Claims Process Changes, More Carrier Oversight
Florida legislative leaders posted a proclamation Tuesday painting the broad outlines of the special session scheduled to begin Monday, Dec. 12. And it quickly had tongues wagging around the ...
A Near-Term Return to Underwriting Profit in Auto ‘Highly Unlikely’: AM Best
Apparently, nothing has changed within the last several months to change AM Best's negative outlook on the U.S. personal lines insurance segment.
Even before Hurricane Ian, Florida's home insurance market was hobbled by fraudulent claims, pricey lawsuits and financial mismanagement by some insurance firms. Hurricane Ian may result in one of the largest losses in the history of the National Flood Insurance Program and add to its current $20.5 billion debt. Two new U.S. studies show that automatic emergency braking can cut the number of rear-end automobile crashes in half and reduce pickup truck crashes by more than 40 ... Catastrophe modeler RMS said private market U.S. insured losses from Hurricane Nicole are estimated at less than $2 billion, with a best estimate of $1.6 billion.
Florida’s Homeowners Crisis Requires Insurance Stability, Legislative Reform and Smart Technology
Private Flood Insurance Market Growing; NFIP ‘Adrift’: AM Best
Studies Find Automatic Braking Can Cut Crashes over 40%
RMS: Less Than $2B in Insured Losses From Hurricane Nicole
UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Jan. 1
The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the ...