Industry News
Growth of Pet Insurance Continues as Market Could Reach $4.5B
Any pet owner who has been hit by sticker shock at the vet's office understands why pet insurance is a booming business. Pet health insurance purchases have been up over the last several years, ...
Global Commercial Insurance Rates Drop in Q4 for 2nd Consecutive Quarter: Marsh
Global commercial insurance rates fell 2 percent in the fourth quarter of 2024 following a 1 percent decline in Q3 2024 — marking the second consecutive quarterly decrease following seven years of ...
The Hartford Stag Gets a New Look
The iconic stag logo of The Hartford is getting a new look—one that the company describes as bold and contemporary—honoring "the company's rich history while demonstrating its modern, visionary ...
Markel’s Board Commencing Review of Go-Forward Business Structure
In spite of reporting operating earnings of $3.7 billion for 2024, Markel Group announced that the holding company for insurance and other businesses has decided to conduct a review of its business, ...
USAA Becomes 3rd Insurer to Report $1B-Plus in LA Wildfire Losses
USAA has paid out more than $1 billion for the Los Angeles wildfires, making it the third insurer to report $1 billion or more in payouts for the destructive blazes that burned thousands of ...
Markel Reorg Announced: U.S. Public D&O, FI Moves to Bermuda Platform
Global specialty insurer Markel announced that it is reorganizing its U.S. professional liability products portfolio, building on similar actions taken on its London professional liability book in ...
TPL – What?!? Consumers Unfamiliar With Plaintiffs’ Bar Strategies
While liability insurance claims professionals are very familiar with the terms "third-party litigation funding" and "jury anchoring," there aren't many average Americans who recognize those phrases, ...
Thirteen U.S. P/C Companies Impaired in 2023: AM Best Report
Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report. The insurance company impairments identified in ...