Industry News
What About Independent Agents? Root’s Focus on Embedded Insurance, CEO Says
While he didn't say that distribution of Root Insurance products through independent agents was off the table in 2022, the InsurTech's chief executive officer did say the company is now laser-focused ...
Pandemic, Other Risks Weigh on Minds of Middle-Market Execs
Most middle-market firms experienced a recovery following the height of disruptions caused by COVID-19 and remain mostly optimistic about the global economy, but other business risks loom large. ...
Lemonade Execs Expect ‘Peak Losses’ in 2022
With unfavorable development and product mix changes propelling fourth-quarter and full-year loss 2021 ratios into the 90s—up 20 points over comparable 2020 periods—Lemonade guided shareholders ...
Executives on the Move at United Fire Group, Sayata, Beazley
United Fire Group Inc. President and Chief Executive Officer Randy Ramlo announced he will retire from the company in 2022. Ramlo joined UFG in 1984 as an underwriter. Since then, he has held a ...
The Latest Launches From State Farm, Nirvana Insurance, Everspan
State Farm and Ford announced the launch of Drive Safe & Save Connected Car for customers with eligible connected Ford or Lincoln vehicles to benefit from usage-based insurance (UBI). State Farm ...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements ...
Applied Underwriters to Acquire Catlin Specialty From AXA XL
Applied Underwriters has announced that it will acquire Catlin Specialty Insurance Company from the AXA XL group of companies. The move will consolidate Catlin into the North American Casualty group ...
Extreme Wildfires Expected to Increase 30% by 2050
Indonesia's peatlands, California's forests and vast swathes of Argentine wetland have all been ravaged by extreme wildfires, heralding a fiery future and the dire need to prevent it. With climate ...