Industry News
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 ...
Historic Catastrophe Losses Blamed for Slump in Travelers’ Profit
This week, Travelers Companies Inc. reported a 98 percent fall in quarterly profit, as severe wind and hail storms in parts of the United States pushed up its catastrophe losses. Core income of the ...
Tech Bytes: New Partnerships at NEXT, VIU by HUB, Cover Genius
NEXT Insurance, a digital InsurTech in the small business insurance space, announced its integration with Ivans Download for general liability and workers' compensation policies. This feature offers ...
Increased Auto Insurance Premiums Likely as Lines Face Pricing Pressures Head On
Insurance claims inflation has risen faster than the underlying consumer price index (CPI), outpacing auto insurance premium increases, according to a new study, Auto Insurance: The Uncertain Road ...