Personal Lines
Allstate Increasing Magnitude of Auto Rate Hikes in 2022
Allstate said unfavorable non-catastrophe prior-year reserve re-estimates were approximately $160 million for first-quarter 2022, primarily driven by auto physical damage and bodily injury severity. ...
Tesla Insurance Turning ‘Nightmare’ Claims Experience Into ‘Dream’: Musk
Tesla is "trying to turn a nightmare into a dream with Tesla Insurance," Chief Executive Officer Elon Musk said Wednesday. His final words during an earnings conference call that lasted more than an ...
Special Florida Insurance Session Welcomed, but Will It Come Soon Enough?
Florida's governor has yet to set a date for a special legislative session aimed at the property insurance crisis in the state, but some in the industry, while welcoming the gathering, said it may ...
UK’s Flood Re Launches Scheme to Help Homeowners Raise Resilience Against Floods
Flood Re, the joint initiative between the UK insurance industry and the UK government to promote the availability and affordability of flood insurance, has launched a proposition designed to ensure ...
Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon
Preliminary economic losses from natural hazards during the first quarter of 2022 totaled $32 billion, of which less than 50 percent (or $14 billion), was covered by public and private insurers, ...
Dog-Related Claims Cost U.S. Home Insurers Nearly $900M in 2021
Dog bites and other dog-related injuries accounted for more than one-third of all homeowners liability claim dollars paid out in 2021, costing $881 million, according to an analysis by the Insurance ...
From Roof Building Codes to ‘Matching’ Limits, Some Changes Underway in Florida
Property insurance companies and roofers in Florida don't often see eye-to-eye. Insurers have frequently blamed unscrupulous contractors for jacking up claims, and roofing companies have sued ...
Reinsurers to Bear Brunt of Australia Flood Claims: AM Best
The majority of gross losses from recent devastating flooding in Australia likely will be borne by reinsurers with limited impact on primary insurers' balance sheets, according to an AM Best report. ...