Industry News
‘Hard But More Manageable’ Jan. 1 Renewals; Little Relief on Retentions
The hard reinsurance market in property-catastrophe reinsurance isn't coming to an end at Jan. 1, 2024, but reinsurers are likely to deploy more of their capacity next year, broker executives said ...
Satisfaction Stable In Challenged Homeowners Market; Erie Ranks Highest: J.D. Power
As U.S. homeowners and renters are seeing rising premiums or policy cancellations due to a combination of natural catastrophes and regulatory pressure, the J.D. Power 2023 U.S. Home Insurance Study ...
LexisNexis Risk Solutions Launches C.L.U.E Auto Damage 360
Celebrating the 35th anniversary of the Comprehensive Loss Underwriting Exchange (C.L.U.E.), LexisNexis Risk Solutions announced the launch of C.L.U.E. Auto Damage 360, a comprehensive auto claims ...
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 of above-average numbers of ...
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 ...