Industry News
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.
U.S. P/C Industry Combined Ratio Headed Back Up to 100: S&P Ratings
While the U.S. property/casualty combined ratio sat at the lowest level in five years during 2024, the industry's key metric is headed up to the 98-100 range for 2025, analysts from S&P Global ...
InsurTech Profile: Tech Innovation Guides Work at Turvi
Maybe it had something to do with being a kid when the first "Star Wars" movie was released. Or maybe it was that sense of satisfaction from writing a line of code on an Apple II and watching the ...
Is State Farm General Too Big to Fail? Calif. Rate Hearing Concludes
"Too big to fail"—a phrase associated with interconnected publicly traded financial services companies in the wake of the 2008 financial crisis—was revived in a new context last week. During a ...