Industry News
AM Best: Social Inflation Key Factor in Rise of Loss Severity
Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense ...
Fannie and Freddie Hit Pause on Replacement-Value Rules for Home Insurance
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don't carry full replacement-value ...
Mercury Taking Over Tokio Marine California Biz, Bullish on CDI Strategy
Mercury Insurance agreed to accept the transfer of California personal lines policies originally written by Tokio Marine Group insurers, the two carriers said in a media statement yesterday, ...
Triple-I: Slowdown in U.S. P/C Replacement Costs Likely Short-Lived
Property/casualty replacement costs in the U.S. are increasing at a slower pace than overall inflation and will likely continue to do so for the next 24 months, according to the Insurance Information ...
Fannie Mae Guidelines Raise Concerns, Could Bar ACV Coverage for Homes
An updated guideline from Fannie Mae, if it stands, could throw a wrench into the property/casualty insurance industry's move toward actual cash value for more homeowners and condo coverage. A Fannie ...
Personal Auto Insurers Have Edge on Innovation: AM Best
After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. ...
Progressive Set to ‘Maximize’ Growth, Building on Q1
When Progressive's chief executive officer weighed the words that should go into the management discussion section of the company's first-quarter 10-Q report, she considered two possibilities to ...
Triple-I: Signs of Improvement in Florida Property Insurance Market After Reforms
Fraught with fraud and litigation abuse, the Florida insurance market is finally showing signs of stabilization amid legislative reforms passed in 2022 and 2023, according to a new Triple-I Issues ...