Industry News
Travelers’ Q4 Net Income Skyrockets as Personal Lines Reverses Underwriting Loss
Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time the prior year to $1.6 billion on lower catastrophe losses and a return to profitable results in ...
Study: Buyers 45 and Under Want to Combine Car/Insurance Purchase
A new study focused on buyers 45 and younger highlights their preference for a seamless car shopping experience, combining car and insurance purchases. Polly, an embedded auto insurance provider, ...
You are shopping for a new refrigerator. How do you choose? One is the right size from a durable brand...
Tech Bytes: New Partnerships at Loggerhead, FRISS, Blink Parametric
Insurance core technology provider Socotra announced that Loggerhead Insurance, a Florida-based provider of homeowners insurance coverage in the state, has struck a deal to offer replacement coverage ...
Allstate Q4 2023 Reserve Charge Near $200M
Allstate offered some preliminary details of factors that impacted fourth-quarter 2023 earnings yesterday—among them a $199 million non-catastrophe reserve charge. The carrier said the figure ...
Double-Digit Rate Hikes for 10 Largest Auto Insurers in 2023
According to S&P Global Market Intelligence's RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its ...
After 18 Straight Years, Favorable Loss Reserve Development Streak Could End
In a new article published late last week, Fitch Ratings noted the prospect that 2024 could mark the end of a run of almost two decades of aggregate loss reserve releases for the U.S. ...
Haute Cyber? Attackers Are Strutting Into 2024 With More Sophistication
Ransomware has been a hot topic in the cyber industry for several years, but cyber criminals are finding ways to keep it relevant. "Ransomware, I would say, is decreasing in [frequency] and going ...
Report: Advanced Tech Leads Carrier Innovation in 2024
Leveraging data for increased underwriting accuracy, customized policies and streamlining business operations are some of the top trends for property/casualty insurers in 2024, according to a report ...