Industry News
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 ...
Delos in California Raises $7.3M in Seed Extension Round Led by IA Capital Group
Delos Insurance Solutions in California announced a $7.3 million seed extension round, enabling the managing general agent's expansion in the California homeowners' insurance market. The seed ...
CorVel Launches Training Initiative for Claims Professionals
CorVel Corporation, a provider of risk management services, announced the launch of CorVel University, a national training initiative designed to equip employees with the necessary skills and ...
Mutual Insurers’ Bottom Lines Reflect Impact of Inflation, Secondary Perils: AM Best
Despite notable premium growth in 2022, elevated inflation led to higher claims costs resulting in a $31 billion underwriting loss for U.S. property/casualty mutual insurance companies, according to ...