Industry News
Reinsurers Average 12.1% Premium Growth for 2022: Gallagher Re
Reinsurers' premium growth averaged 12.1 percent for full-year 2022 and 10.2 percent for the fourth quarter, which was driven by improved pricing for commercial lines and reinsurance business, ...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022: Swiss Re
High inflation alone led to an increase in property/casualty claims of 5-7.5 percent across five key markets in 2022, according to Swiss Re research. "In 2023, we expect that inflation should lead to ...
Commercial Auto InsurTech Fairmatic Raises $46M in New Funding
Artificial intelligence-powered commercial auto insurance company Fairmatic announced that it has raised $46 million in new funding six months after its oversubscribed series A. This brings its total ...
D&O Story for 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the ...
‘Tender Your Limits’: Plaintiff Lawyers Step Up Demands As Fla. Reform Heads to Gov’s Desk
With the Florida Senate passing a take-no-prisoners tort-reform bill on Thursday, plaintiffs lawyers moved to file tens of thousands of lawsuits before the new restrictions kicked in yesterday. The ...
Hallmark Financial Services CFO Is Now CEO Too
Last week, the board of directors of Hallmark Financial Services, Inc. promoted Christopher J. Kenney to become chief executive officer. Kenney, already serving as president and chief financial ...
Female Gig Workers Face 32% Average Pay Gap
Female gig workers in the U.S. make less than males, wear more hats and are more worried about their futures, according to Legal & General Group research. A study sponsored by the group found ...
Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re
Natural disasters in 2022 brought global economic losses of $275 billion, of which insurance covered 45 percent, or $125 billion, according to Swiss Re's latest sigma report. Claims from Hurricane ...