Industry News
LA Fire Survivors Got a Rude Surprise That Could Hit More Americans
A year after the Los Angeles wildfires, many survivors face the same problem: Their insurance policies aren't paying out enough to cover the cost of rebuilding. It's a tragic predicament. And it will ...
Back to Normal: Swiss Re Institute Sees U.S. P/C Insurance Past Cyclical Peak
A day before the first publicly traded U.S. insurer, Travelers, was set to report fourth-quarter 2025 financial results, Swiss Re Institute released an outlook for the next two years—2026 and 2027. ...
Lemonade to Cut Tesla Insurance Rates in Half for Miles Driven With Software Assistant
U.S. insurer Lemonade said on Wednesday it would offer a 50% rate cut for drivers of Tesla electric vehicles when the automaker's Full Self-Driving (FSD) driver assistance software is steering, ...
Insurance Regulators, Trades Get Behind Latest Effort to Abolish FIO
The nation's insurance commissioners and industry trade associations are looking to support efforts to put the Federal Insurance Office (FIO) back on the chopping block. Late last week, Rep. Troy ...
Executives on the Move at Cowbell, The MEMIC Group, Philadelphia Insurance Companies
Cowbell announced the appointment of Simon Hughes as Chief Commercial Officer. Hughes, who previously served as SVP, Global Distribution & GM, UK, will oversee ...
Florida OIR Triples the Size of Citizens’ Rate Decrease
With takeouts continuing at a steady pace and more carriers working the Florida property insurance market, state regulators saw fit to more than triple the size of Citizens' Property Insurance Corp. ...
Outlook on Reinsurance Has Changed; Pre-’23 Property Pricing Back: AM Best
AM Best's outlook for the global reinsurance segment is no longer positive, the rating agency announced Monday, citing the uptick in property reinsurance price drops and concerns about casualty ...
Cats, Dogs to Be Covered Under New Progressive Pet Insurance Coverage
Progressive is partnering with pet insurance program provider Companion Protect to offer a new option for pet owners seeking coverage for their four-legged friends, according to an announcement ...