Industry News
U.S. Excess & Surplus Lines Boost London Market Top-Line Growth
The U.S. excess and surplus lines market continues to offer profitable growth opportunities for insurers and reinsurers in the London market—which could help counteract some possible headwinds, ...
Don’t Forget Workers Comp Tariff Impacts: Berkley
The chief executive of W.R. Berkley Corp. said that his company is very focused on the impacts of tariffs on loss costs, and ultimately pricing for short-tail lines of business. But the possibility ...
Travelers Income Drops 65% on Catastrophe Losses, Primarily California Wildfires
The Travelers Cos. said first-quarter 2024 fell 65 percent on an underwriting loss of $305 million. Travelers posted first-quarter net income of about $395 million compared to about $1.1 billion ...
Progressive Q1 Net Income Up 10%
First-quarter net income at Progressive Corp. increased 10 percent compared to the same period a year ago to about $2.6 billion. Progressive reports results monthly. Net income for March was down 42 ...
Group Sues California Department of Insurance Over FAIR Plan Surcharges
A consumer advocacy group has sued the California Department of Insurance and Commissioner Ricardo Lara to block hundreds of millions of dollars in surcharges that could soon appear on California ...
Potential Tariff Auto Severity Impact on Travelers: Single-Digits or Less
Wildfire losses obscured what executives of Travelers described as outstanding underlying results for the insurer's first quarter—and looking ahead, the company is well-positioned to face the ...
Insurers Need End-to-End Strategy to See Double the ROI in AI Implementation
A new report outlines how insurers must focus their AI efforts to achieve a return on investment (ROI). "How Insurers Can Supercharge Their Strategy With AI," by Boston Consulting Group (BCG), ...
Wildfire Losses Increasing But Still Small Compared to Hurricanes: KCC
Wildfire losses in the U.S. are increasing, but the risk is still considerably smaller than hurricanes, according to a new KCC white paper.
