Industry News
What Lies Ahead for P/C Insurance Pricing: Moody’s
The current pricing environment for property/casualty insurers is "modestly positive," with commercial and personal auto rates rising by mid-to-high single digits, homeowners and commercial property ...
Wells Fargo Says It Won’t Finish Paying Back Auto Insurance Customers Until 2020
Wells Fargo & Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by ...
No-Deal Brexit Won’t Block Banks From London Clearing, Says EU
The European Union said it won't allow a no-deal Brexit to cut the bloc's banks off from London's crucial financial infrastructure, which would put trillions of dollars of derivatives contracts at ...
Former Liberty Actuary Talks ‘Openly’ About Launching Upmarket HO Insurer
Keep an eye out for Openly, a new digitally-sophisticated upmarket homeowners insurer catering to independent agents. According to Ty Harris, founder and CEO, Openly will launch in early 2019 in a ...
A Different World for Underwriters: Profits Shift to Lines That Were Loss Leaders
For property/casualty underwriters, today's operating environment may seems like an insurance-themed episode of The Twilight Zone, with lines they counted on for profits turning into problems and ...
Liberty Mutual’s Safeco to Take EMC’s Agency Personal Lines Biz
With an intention to focus on commercial, reinsurance and life insurance business going forward, EMC Insurance Companies announced an agreement with Safeco Insurance related to its existing personal ...
Catastrophes Give Insurers a Chance to Show Their Humanity, Says W.R. Berkley’s CEO
The aftermath of Hurricane Michael and other catastrophes this fall gives insurers a chance to show that they care about more than just numbers, W.R. Berkley's president and CEO said. "Hopefully this ...
The Hartford Boosted Q3 Profit With Lower Taxes, Higher Premiums and Acquisition Bounty
The Hartford booked significantly higher net income during its 2018 third quarter, thanks largely to higher returns in several lines and lower taxes. Third quarter 2018 net profit came in at $427 ...