Industry News
Workers Comp Premiums Fall 3% in 2024; Combined Ratio Holds at 86: NCCI
Workers compensation remained a healthy and profitable line in 2024, but claims severity grew with an increase of 6 percent for medical claim severity and 6 percent for indemnity claim severity. ...
Boost Prices or Retreat? How Carriers Improved Homeowners Books in 2024
Direct written premiums in the U.S. homeowners insurance market rose more than 13 percent in 2024, and the net combined ratio for the line fell below breakeven for the first time in five years. ...
Lloyd’s Has ‘Laser Focus’ on Oversight of Coverholders to Proactively Avoid Market Risk
Lloyd's has "a laser focus" on the oversight of delegated underwriting authorities to make sure these facilities do not drag down the market in the same way that poor management of managing general ...
What Consumers Think—and Who’s Shopping for Insurance
Tariffs. Economic volatility. Technology trends. Changing insurance market conditions. These are all having an impact on property/casualty insurers. But how are they impacting consumers? More ...
U.S. House Bill Reintroduced to Rid Federal Insurance Office of Subpoena Power
Rep. Scott Fitzgerald on May 15 reintroduced a bill to eliminate the subpoena power of the Federal Insurance Office (FIO). The Insurance Data Protection Act was first presented by Fitzgerald, R-Wis., ...
Insurance Pacesetters Creating New Skills, Career Pathways to Remain Relevant: Report
Innovative insurance companies stand out by reinventing themselves through advanced technology and analytics, according to a newly released study conducted by HR advisory firm The Josh Bersin ...
Report: California Workers Comp Combined Ratio Highest in 14 Years
Written premiums in California stabilized in 2022 through 2024 after the large swings during the pandemic, while the accident year combined ratio rose to the highest level in 14 years, a new report ...
New Jersey Announces $450M PFAS Settlement With 3M Days Before Trial
New Jersey officials announced a landmark settlement of up to $450 million with 3M Company to resolve the state's lawsuits and address damage to the state's water and other natural resources from ...