Industry News
AM Best: Rapid Premium Growth Warrants Greater MGA Oversight
Though AM Best remains bullish on the delegated underwriting authority enterprises (DUAEs) market, it remains cautious of the risk managing general agents (MGAs) bring to insurers. In its latest ...
U.S. Home Insurers Post Net Combined Ratio Over 110: S&P Global
The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market Intelligence. The net combined ratio for the ...
Medical Professional Services Costs Increased Faster in States With No Fee Schedule
A recently released report comparing prices paid for medical professional services across 36 states from 2008 to 2023 found that states with no fee schedules for professional services had higher ...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7 percent on average in the first quarter of 2024. According to The Council of Insurance Agents and ...
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way ...
California Insurance Head Green Lights State Farm Reduction in Wildfire Discounts
State Farm has received approval to reduce the discounts it offers homeowners for wildfire mitigation in California. In addition, the insurer does not have to detail the wildfire risk factors that ...
Former Executive Alleges Gender Bias, Retaliatory Firing by NEXT Insurance
A former chief corporate officer for NEXT Insurance is accusing the company and its chief executive officer of gender and disability discrimination in the workplace and of firing her in retaliation ...
Tech Bytes: New Partnerships at INSTANDA, ZestyAI, Zojacks
INSTANDA, a global provider of no-code insurance platform technology, announced an integration with UnderwriteMe, a SaaS underwriting platform provider for the life insurance industry. The ...