Industry News
Inflation Impacting Workers Comp Medical Costs: WCRI
A new study by the Workers Compensation Research Institute (WCRI) illustrates how rising inflation has impacted the system in recent years. The 2025 edition of the WCRI Medical Price Index for ...
No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best
Insurance industry financial strength rating agency AM Best said that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers ...
APCIA: Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims
The American Property Casualty Insurance Association (APCIA) chimed in to a recent Senate subcommittee hearing to defend the industry's response to claims following hurricanes Milton and Helene. "The ...
Progressive Acknowledges Passing of Former CEO Renwick
The Progressive Corporation published a statement on Sunday stating that the company mourned the loss of its former chief executive officer and chairman, Glenn Renwick. According to the statement, ...
Nearmap Acquiring itel to Add to Property Intelligence, Underwriting and Claims Services
Property intelligence provider Nearmap is acquiring itel, a provider of property claims services. Andy Watt, Nearmap's CEO, will serve as CEO for the combined company, while itel CEO Brian Matthews ...
Q1 Shows ‘Clear’ Signs of Commercial P/C Softening, Says CIAB
According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes in the first quarter of 2025 rose by 4.2 ...
California Commissioner Launches Smoke Claims & Remediation Task Force
A new task force has been formed to develop standards in California for insurance coverage and clean-up of smoke-damaged homes. California Insurance Commissioner Ricardo Lara announced the formation ...
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. ...