Industry News
P/C Insurers Impress Shoppers With Digital Channels, But Servicing Existing Customers Lags
Though insurers do a good job attracting new customers shopping for policies via their digital channels, they fall short when it comes to servicing existing customers, a new industry report shows. ...
IIHS: Rear Passengers in Small Cars at Higher Risk of Internal Injuries
A new crash test, conducted by the Insurance Institute for Highway Safety (IIHS), revealed poor ratings for all small cars tested. In all five vehicles tested, the rear dummy submarined beneath the ...
Florida Courts Flooded With Suits Before Tort-Reform Bill Signed
Just as the plaintiffs' law firm of Morgan & Morgan warned, the number of Florida lawsuits filed across the state has shattered previous records, topping 280,122 in April, the Florida Bar ...
Majority of Americans See Liability Insurance as the Answer to Gun Control
Could insurers be the answer to gun control? A new survey says yes. A ValuePenguin survey of nearly 2,000 Americans found that 75 percent believe gun owners should be required to purchase liability ...
Swiss Re Becomes Fourth Insurer to Leave Net Zero Group
Swiss Re is quitting the world's main climate alliance for insurers, joining a growing exodus from the coalition of some of the industry's biggest companies. The world's second-largest reinsurer is ...
Fitch Downgrades Allstate’s IFS Ratings to ‘A’
Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the financial strength ratings of Allstate P/C insurance subsidiaries to "A" (Strong) ...
Pie Insurance CEO Tells Employees During All-Hands That 14% Are Being Let Go
Late last week InsurTech Pie Insurance held an all-hands meeting during which CEO John Swigart told employees that 14 percent of them — 66 in all are being laid off. "This decision was made as part ...
Drivers Are Shopping, Swapping Auto Insurance Policies at Record Pace
Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17 percent over the same period in 2022, and a record-breaking ...