Industry News
Tourist Duck Boats Get New Rules Aimed at Improving Safety
Five years after 17 people died when a duck boat sank on a Missouri lake, the U.S. Coast Guard has issued new rules for the amphibious World War II vessels retrofitted for tourist excursions. But the ...
AM Best Revises U.S. Homeowners Segment to Negative
AM Best said it has revised its outlook for the U.S. homeowners segment to negative from stable following three consecutive years of net underwriting losses as a result ...
U.S. Launches: Everest Adds Wholesale Division; Canopius Expands Casualty Business
Everest Insurance, the insurance division of Everest Group Ltd., a global underwriter of property/casualty insurance and specialty reinsurance, announced the opening of a dedicated U.S. Wholesale and ...
For 5th Straight Year, Surplus Lines Sees Double-Digit Growth: AM Best
Total U.S. surplus lines direct premiums written (DPW) rose by 19.2 percent to reach a record $98.5 billion in 2022, marking a five-year streak of double-digit growth rate increase, according to a ...
New Florida Immigration Law Could Worsen Property Insurance Costs
If Florida insureds and insurers haven't been pummeled enough by rising costs in recent years, they could soon see another factor that could hit them in the pocketbook. Florida's tough new ...
PE Firm Exploring Sale of Car Insurance Software Vendor CCC
Private equity firm Advent International is exploring a sale of CCC Intelligent Solutions Holdings Inc., a provider of software to the car insurance industry that has a market value of $7.1 billion, ...
On the Road Again: Rate Drops of People Working From Home
If you think U.S. roads have gotten busier on your morning commute, you're not alone. The rate of workers driving to their jobs creeped upwards nationwide last year, as did those who carpool to work ...
J.D. Power: Auto Insurance Shopping Reaches All-Time High
The percentage of American households with cars and without auto insurance rose during the first half of 2023, and the share of customers who say they are shopping for auto insurance reached a record ...