Industry News
AIG Appoints Walsh EVP, Chief Financial Officer
American International Group announced that Keith Walsh will join the company as executive vice president, chief financial officer, effective Oct. 21, 2024.
Homeowners Not Satisfied, Just Stuck With Insurers: J.D. Power
Although Chubb, AIG, Amica and Erie outranked peers in the U.S. homeowners insurance market on measures of customer satisfaction, the compiler of satisfaction scores—J.D. Power—believes customers ...
D&O Market in ‘State of Transition’ on Litigation Trends: Woodruff Sawyer
It looks like the market for directors and officers insurance is shifting, according to Woodruff Sawyer, with the number of renewals seeing flat or price increases for the first time in 18 months. ...
U.S. Property Insurance Rates Fall for First Time Since 2017
U.S. property insurance rates are decreasing for the first time in almost seven years, after insurers returned to profitability amid lower losses tied to catastrophes. The average U.S. property ...
Flooding in Central Europe Could Cause Billions in Economic Losses, Analysts Say
The latest flooding in central Europe could cause economic losses ranging from several hundred million euros to billions, early estimates published on Monday found, as the region braced for more ...
California Commissioner, Cal Poly Humboldt Working on Public Wildfire Model
California Insurance Commissioner Ricardo Lara and Cal Poly Humboldt plan to form a strategy group to undertake what Lara says will be the nation's first public wildfire catastrophe model. The plan ...
Rising Home Insurance Rates Drive Increase in Policy Shopping, Drop in Customer Satisfaction
Homeowners and renters insurance costs now exceed both the rate of inflation and the average rate increases experienced by auto insurance customers during the past year, according to the latest J.D. ...
Double-Digit U.S. Casualty Reinsurance Price Hikes Forecast
While the property-catastrophe reinsurance market is in the midst of a moderate softening phase, which will continue in 2025, double-digit price hikes for U.S. casualty reinsurance business are ...