Industry News
State Farm Still Wants a 30% Rate Increase in California
State Farm isn't done seeking a rate increase in California, upping its request a week after getting the OK for a large rate hike to what the company had originally wanted before being rejected and ...
Captives to Remain Viable as Market Softens: RIMS Panel
As commercial property insurance rates moderate, the value and relevance of captive insurance companies isn't expected to fade away. A panel of experts discussed the state and evolution of the ...
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 ...