Personal Lines
Florida Senator Tries Cat Fund Changes to Cut Cost of Property Insurance
Seeing no action on bills that would address Florida's spiraling property insurance problems head-on, one state senator took a different route Thursday and proposed reducing insurers' payments to the ...
U.S. Drivers Divided Over Speed Cameras: Erie Insurance
Half of U.S. drivers support the use of speed cameras while more than a third oppose them, according to a recent survey commissioned by Erie Insurance. However, many opponents said they would change ...
World’s First Crypto Mortgage? Homeowners Insurers Don’t Hate It
If homeowners insurance carriers weren't facing enough issues this year, here's one more to think about: A Miami company is now offering cryptocurrency-based mortgages. Some insurance representatives ...
Progressive’s Q4, Full-Year Net Income Dropped Over 40%
Fourth-quarter 2021 earnings at Progressive Corp. fell 43 percent compared with the same period a year ago to $962.3 million. The results were despite the personal and commercial property insurer ...
Only 38% of 2021’s Natural Disaster Losses of $343B Were Covered by Insurance: Aon
Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon's "2021 Weather, Climate and Catastrophe Insight" report. Insured losses ...
Loss Costs Outpaced Premium Increases for U.S. P/C Industry Through Q3 2021
Direct premium production for the U.S. P/C industry through third-quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen ...
Secondary Perils Are Increasing Share of U.S. Catastrophe Losses
Secondary peril events such as wildfires, tornadoes and severe thunderstorms are becoming more impactful and generating an increasingly larger amount of insured losses, affecting the bottom lines of ...
Data Points: Attorney Impact on Commercial Auto Losses
Commercial auto insurance loss severity rose about 5 percent per year during the five-year period ending 2019, as the proportion of claims that had attorney involvement increased to nearly 30 ...