Industry News
Where Homeowners Rates Are Rising—and Who Is Raising Them Most
According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by ...
NY Proposes Plan to Stabilize Broken Taxi Insurance Market
New York Governor Kathy Hochul proposed measures to stabilize the city's taxi and rideshare insurance industry, which is reeling from the insolvency of its largest provider American Transit Insurance ...
Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says
The U.S. Treasury's Federal Insurance Office last week released what it called the "most comprehensive data on homeowners insurance in history." Weeks after a U.S. Senate committee released a study ...
Executives on the Move at Everest Group, Zurich NA, Arch Capital, Plymouth Rock and Intact Financial Corp.
Everest Group has appointed Jim Williamson as president and chief executive officer, effective immediately. Williamson was most recently Everest's Acting CEO. Prior to that, he served as the ...
Wildfire-Risk Models Are Struggling to Predict LA-Style Fires
Among natural disasters, wildfires are the great unknown. Even the most-sophisticated scientific models fail to capture all the risk factors or properly account for the increasing impact of climate ...
‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association
A January 2025 report from the Geneva Association, titled Insurance in a Fragmented World Economy, found that geopolitical tensions have driven the global economy toward "geoeconomic fragmentation." ...
Travelers Posts 28% Increase in Q4 Net Income
The Travelers Cos. said fourth-quarter 2024 and full-year net income increased 28 percent and 67 percent, respectively, on strong underlying underwriting results. Travelers posted fourth-quarter net ...
The Latest LA Wildfire Loss Estimates: Verisk’s Range Is $28B-$35B
The Extreme Event Solutions group at Verisk has estimated that insured industry losses to property for the Palisades and Eaton fires together will fall between $28 billion and $35 billion. Verisk's ...