Industry News
Personal Auto Insurance Could Be Obsolete in 20 Years: Morningstar
Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate scenario forecasts the line ...
Tropical Storm Helene Lashes Florida With Powerful Winds, Rain
Hurricane Helene barreled into the western coast of Florida with dangerous winds, knocking out power for more than a million customers and threatening to unleash deadly flooding across several ...
Commercial Properties in Helene’s Direct Path Identified by Moody’s
A day before Hurricane Helene was forecast to make landfall on Florida's Gulf Coast, Moody's published an interactive online map revealing 161,849 commercial properties in direct path, valued at over ...
Risks Now in E&S Market May Be There to Stay: AM Best
In 2023 the U.S. surplus lines market for the first time surpassed the $100 billion mark in direct premiums written, and some of the risk that has found non-admitted insurers might stay there beyond ...
Northwest Residents Concerned About Wildfire, But About 25% Don’t Prepare
The majority of Washington and Oregon residents (82 percent) have some level of concern about growing wildfire dangers, but only about one-in-four are taking precautions to combat the impacts of ...
State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P GMI
State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis. The ...
Insurance CEOs Talk Gen AI, Growth, Workforce Strategies
A much higher percentage of insurance chief executives say that generative AI is a top investment priority for their firms than peers in other industries, according to a survey report published by ...
Filling a Perceived Void, Aon Launches U.S. Severe Convective Storm Model
Just a few weeks after unofficially announcing that a new catastrophe model was in the works, Aon officially announced the launch of a model to analyze U.S. Severe Convective Storms this week. Paul ...