Industry News
Personal Auto Results Slow to Recover; GEICO, Progressive to Pass State Farm
With an overall combined ratio in excess of 100 for the first time since 2017, private passenger auto joined homeowners in unprofitable territory last year, prompting carriers to respond with pricing ...
NEXT, Thimble Latest InsurTechs to Announce Layoffs This Year
NEXT Insurance and Thimble are the latest InsurTechs to lay off part of their workforce this year, with NEXT citing challenging economic conditions and both InsurTechs pointing to an increased focus ...
The Latest Launches from Zurich Resilience Solutions, Foxquilt, Mercury Insurance
Zurich Resilience Solutions in North America is offering customers a service that can help them combat toxic work cultures and improve employee retention. Collaborating with Work Shield, a misconduct ...
RLI, GEICO Rank Among Ward’s Top 50 For 32 Years
Property/casualty insurers started to broadcast the fact that they ranked on the list of Ward's 50 top-performing insurance companies for 2022 last week, but only two were named for 32 straight ...
Progressive Corp. Records Second-Quarter Loss
Progressive Corp. said Friday it recorded a loss of about $543 million for the second quarter 2022 and a loss of $436.7 million in June. To date, Progressive is in the red with a bottom-line net loss ...
How Electric Vehicle Weights, Stopping Distances Impact Auto Claims
Consumers in the U.S. are rapidly adapting to electric vehicles, a shift away from the internal combustion engine that may change auto insurance claim characteristics. CCC Intelligent Solutions said ...
Tech Bytes: New Partnerships at American Family, Selective, Talage
American Family Insurance is partnering with Tractable to apply its artificial intelligence services. Specifically, American Family Insurance Claims Services will be using Tractable as part of its ...
Insurers Wrangle Over Amber Heard Defamation Costs
A little over a month after a jury found that actress Amber Heard had defamed ex-husband Johnny Depp, one insurer of Heard is asking a court to rule it has no obligation to indemnify her. New York ...