Industry News
Florida Citizens’ Brass Tired of ‘Clickbait’ News on Its Hurricane Claims Denials
Officials with Florida's Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested the insurer has the "worst rate" on paying claims ...
Global Non-Life Insurance Rates ‘Plateauing’ but Nat Cat Losses Delay Market Softening
Global non-life premiums are expected to hit a decade-high growth level of 4.3 percent in 2024, following the repricing of risk over the past several years in response to elevated claims, according ...
Allstate October Catastrophe Losses of $286M Include Milton, Helene
Allstate today said it estimated pretax catastrophe losses of $286 million for the month of October. Losses during October included $102 million, pretax, from Hurricane Milton as well as $144 million ...
Blacks and Hispanics Pay More for Auto Insurance. Study Tries to Answer Why.
A new study examining potential unintentional bias in auto insurance finds that while Black and Hispanic drivers pay more than other drivers for coverage, they also have more claims and driving ...
Cyber Threats, Climate and Business Interruption Risks Top Insurance Buyer/Seller Concerns
Cyber crime, climate change, and business interruption are the chief risk concerns among key marketplace segments in the insurance industry, a new survey from Munich Reinsurance America Inc. and the ...
U.S. High Court Declines Appeal, Upholds Coverage Ruling on Treated Wood
Insurance carriers may want to examine policy language — and what information they request from insureds — after the U.S. Supreme Court let stand a lower court's ruling which could force Argo ...
Commercial Lines Profit Growth: Execution Matters More Than Portfolio Mix
It is "how" commercial lines carriers execute their underwriting strategies, not "what" lines they write that is key to profitable growth for top performers, according to new research from McKinsey. ...
Struggling Businesses at Corner Where George Floyd Was Murdered Sue Minneapolis
Several business owners at the struggling corner where George Floyd was murdered by a Minneapolis police officer in 2020 are suing the city to demand it take over their properties and compensate ...