Personal Lines
AM Best Reports: How Much Florida Carriers Depend on Reinsurers
Florida-domiciled property carriers are extremely reliant on the reinsurance market, making them vulnerable to coming price hikes, a just-released report from the AM Best financial rating firm said. ...
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Flood maps used by the Federal Emergency Management Agency are out of date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change, according to ...
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of ...
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Flood maps used by the Federal Emergency Management Agency are out of date and understate the risks to homes and businesses from flooding and extreme rain triggered by climate change, said FEMA ...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 ...