Industry News
Farmers Forced to Rescind Thousands of Nonrenewal Notices in Georgia
About the same time that it announced a major pull-back from the Florida and California markets, Famers Insurance also sent thousands of nonrenewal notices to Georgia homeowners. In Georgia, though, ...
Americans Are Moving Toward Climate Danger in Search of Cheaper Homes
A midsummer quiz: Let's say you read about an area experiencing blistering heat for weeks on end — heat so hot that in the day, you can't go outside, and at nighttime, it's still above 90F. Would ...
AGCS and Local Allianz P/C Entities Now Trading as ‘Allianz Commercial’
Allianz Global Corporate & Specialty (AGCS) together with the commercial insurance businesses of local Allianz Property & Casualty (P&C) entities have begun to trade as "Allianz ...
Barring Change, Allstate May Exit California Property Market Completely
The topic of a recent California insurance department workshop was the potential use of catastrophe modeling in ratemaking, but carrier representatives and consumers took the opportunity to air ...
Slice E&S Small Business Insurance Offered in 9 More States
Slice Labs Inc., a technology company catering to small businesses with an on-demand insurance platform specializing in non-admitted lines, announced the expansion of its excess & surplus ...
Coastal Construction, Rising Replacement Values Contribute to Costly Hurricane Claims
Insured losses from hurricanes have risen steadily over just the past 15 years, with nine of the 10 costliest hurricanes in U.S. history occurring since 2005, according to the Insurance Information ...
Specialty P/C Insurers Outperform Their U.S. Peers: Report
Property/casualty insurers in the U.S. that focused on difficult-to-place risks distanced themselves from their peers in key metrics measuring earnings, underwriting profitability, balance sheet ...
Aon: Global Disasters Push Economic Losses to a 21st Century High at $194B
A new report estimates $194 billion in economic losses due to global disasters for the first half of 2023. According to Aon's H1 2023 Global Catastrophe Recap, this is well above the 21st century ...