Industry News
Bill Aims to Drive Down NYC Taxi Drivers’ Insurance Costs. But Will It?
The New York City Council's transportation committee heard testimony last Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from ...
Data Insight: More Insurers Expect to Boost Top Lines Than Headcount
Continuing a trend that's persisted for several quarters, the latest Insurance Labor Market Study from Jacobson Group and Aon finds a big gap between the percentage of carriers expecting to boost top ...
Georgia Governor Wins Support for Tort Reform From 3 Skeptical Senators
Three Republican holdouts in the Georgia Senate got on board with Gov. Brian Kemp's top-priority legislation to limit lawsuits, showing the state's Republican leader remains at the height of his ...
Andover Companies Among Investors in Reinsurance Startup Mereo
The Andover Companies, a long-standing mutual insurance group in the Northeast, is among the investors in Mereo Insurance, a Bermuda-based (re)insurance startup chaired by former AIG Executive ...
Not So Fast: State Farm Didn’t Prove Its Case for Rate Hike, CDI Says
California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22 percent rate request from State Farm, instead calling a meeting with the carrier to get some answers about the ...
Casualty Reinsurance Still Attractive: Arch CEO
While writing primary casualty insurance is more appealing than writing casualty reinsurance, the chief executive of Arch Capital said casualty reinsurance business remains attractive for his ...
AIG’s Zaffino Talks More on Insurer-Reinsurer Balance as $200B Cat Year May Loom
American International Group CEO Peter Zaffino used the insurer's fourth quarter earnings call to again talk about reinsurance attachments points, throwing in the possibility 2025 could be the year ...
Florida Announces Insurance Rate Reductions
Florida Governor Ron DeSantis offered an update on Florida's insurance market last week, noting significant progress in stabilizing rates. Citizens Property Insurance will reduce homeowners' ...