Industry News
Insured Losses From UK Riots Will Be Manageable, With Claims Below £250M: Report
Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers' credit profiles, according to credit agency Morningstar DBRS, in ...
Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit
Liberty Mutual Holding Co. continued to put 2023's losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of ...
Labor Market Study: 14% of Carriers Plan to Reduce Headcount
Fourteen percent of insurance companies plan to reduce employee headcount in the next year, according to numbers from Aon and The Jacobson Group's latest insurance labor market study. Jeff Rieder, ...
Hurricane Season Highlights Decline of 3-Tab Asphalt Shingles Impacting Repair, Replacement
Despite millions of U.S. households with 3-tab asphalt roof shingles, fewer manufacturers are producing them, a potential dilemma amid hurricane season. The study conducted by itel of its own ...
California Commissioner Orders Insurance Cancellation Moratorium for 185K Residents
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, ...
QBE More Than Doubles First-Half Profit, but Misses Estimates
Australia's QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts' view, sending its shares to over a ...
European Insurers Enjoy Big Profits After Premium Hikes
Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums ...
Insurer’s Lack of Repairs Caused Woman’s Death After Ian: Florida Lawsuit
Just as another hurricane hit Florida, the child of a central Florida woman is litigating a claim from a previous storm—Hurricane Ian in 2022. This time, though, the plaintiff claims not only ...