Industry News
State Farm Implements 27% Rate Increase for Illinois Homeowners
State Farm is implementing a significant rate hike for Illinois homeowners, citing more frequent severe weather events and rising home replacement costs that are driving up the cost and frequency of ...
California Insurance Commissioner OKs Higher Workers Comp Pure Premiums
California Insurance Commissioner Ricardo Lara approved a higher September 1, 2025, pure workers compensation premium rate filing. The decision followed a filing by the Workers' Compensation ...
Texas Department of Insurance Issues Guidance for Insurers Following Deadly Floods
The Texas Department of Insurance shared a bulletin on flooding disaster guidance in light of the deadly floods in the Texas Hill Country. The bulletin lays out expectations for how insurers, agents, ...
Tax Hike on Litigation Funders Did Not Make Final Budget Bill
When Trump's huge tax bill was signed into law July 4, missing were changes to the taxes third-party litigation funders pay. Once included within the One Big Beautiful Bill (OBBB) was language to tax ...
AI-Driven MGA ‘Augmented UW’ Launches to Serve Smart-Follow Insurance Market
Augmented UW Ltd., the AI-driven managing general agent, has launched in London to serve the smart-follow insurance market. The MGA was founded by Chief Executive Officer Daniel Prince, a leading ...
Three Insurers Join Ward’s Annual Top 50 P/C Ranking for 2025
Property/casualty insurers have started to broadcast the fact that they have earned spots on Ward's list of 50 top-performing insurance companies for 2025, but only one was named for 35 straight ...
Florida Reinsurance Buyers Found Ample Property Capacity at Mid-Year Renewals
Reinsurers have gained confidence and returned to the Florida market as a result of recent legislative reforms that have transformed the state's risk landscape, according to brokers Aon and Gallagher ...
MGAs by the Numbers: Fronting Biz, Non-Affiliated MGAs Drive Growth
Direct premiums written by U.S. managing general agents jumped to over $114 billion in 2024, according to the latest installment of an annual research series on the MGA market. The report titled ...