Industry News
Markel Insurance Restructures Markel Specialty, Appoints Leaders
Markel Insurance announced that its U.S. and Bermuda operations, previously known as Markel Specialty, are being divided into two business divisions: US Wholesale and Specialty, and Programs and ...
Class Action Accuses Toyota of Illegally Sharing Drivers’ Data With Progressive
A federal class action lawsuit filed this week in Texas accused Toyota and an affiliated telematics aggregator of unlawfully collecting drivers' information and then selling that data to Progressive. ...
Wildfire Losses Cut Chubb Q1 Net Income 38%; Tariffs Create ‘Confusion’
First quarter 2025 net income at Chubb fell nearly 38 percent to about $1.3 billion as losses from the California wildfires overcame underlying results. Chief Executive Officer Evan G. Greenberg in a ...
U.S. Excess & Surplus Lines Boost London Market Top-Line Growth
The U.S. excess and surplus lines market continues to offer profitable growth opportunities for insurers and reinsurers in the London market—which could help counteract some possible headwinds, ...
Don’t Forget Workers Comp Tariff Impacts: Berkley
The chief executive of W.R. Berkley Corp. said that his company is very focused on the impacts of tariffs on loss costs, and ultimately pricing for short-tail lines of business. But the possibility ...
Travelers Income Drops 65% on Catastrophe Losses, Primarily California Wildfires
The Travelers Cos. said first-quarter 2024 fell 65 percent on an underwriting loss of $305 million. Travelers posted first-quarter net income of about $395 million compared to about $1.1 billion ...
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 ...