Personal Lines
Outlook Negative: AM Best Revises U.S. Personal Lines as Auto Results Weaken
AM Best said it held the belief that the U.S. personal auto line would right the ship following weakening performance in 2021, but headwinds such as inflation remain too strong, and the rating agency ...
Bigger Than a Hippo: State Farm Invests $1.2B in ADT; Hippo Reacts
State Farm and ADT, a smart home technology provider, announced yesterday that State Farm will make a $1.2 billion equity investment in ADT, a move that will give the nation's largest insurer a 15 ...
Climate Change Is Overwhelming U.S. Flood Maps, FEMA Head Says
Flood maps used by the Federal Emergency Management Agency are out of date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change, said FEMA ...
State Farm Invests $1.2B in ADT; Adopts ‘Predict and Prevent’ Mindset
State Farm and ADT, a smart home provider, announced that State Farm will make a $1.2 billion equity investment in ADT, a move that will give the nation's largest insurer a 15 percent ownership stake ...
Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens
Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18 percent, according to Swiss Re Institute's ...
Night Blindness: Automatic Braking Systems Struggle to See in the Dark
Many of the automatic braking systems automakers are using to prevent vehicles from hitting pedestrians do not work well in the dark, according to test results released Tuesday ...
Judge’s Order: Credit Scoring Ban Finito In State of Washington
Earlier this week, Judge Indu Thomas entered the final order declaring that Insurance Commissioner Mike Kreidler exceeded his authority when he issued a permanent rule banning the use of credit-based ...
Calif. Emission-Free Mandate Presents New Risks for Auto Insurers
A state mandate in California that will require all cars sold after 2035 to be emission free presents a formidable challenge for auto insurers to properly price and fully understand the risks ...