News
World’s First Crypto Mortgage? Homeowners Insurers Don’t Hate It
If homeowners insurance carriers weren't facing enough issues this year, here's one more to think about: A Miami company is now offering cryptocurrency-based mortgages. Some insurance representatives ...
P/C Industry Profits in Current Cycle Lagging Last Hard Market
U.S. property/casualty insurers have benefited from significant increases in commercial premium rates for nearly three years. However, recent industry statutory underwriting performance improvement ...
Executives on the Move at The Hartford, Chubb, Alliant
The Hartford has promoted Richard Vaughn to head of Global Specialty Distribution. He will report to Adrien Robinson, head of Global Specialty, who said that Vaughn's "experience advancing key ...
U.S. Surplus Lines Premium Up 22% in 2021
Surplus lines premium increased 22 percent and transactions rebounded almost 6.6 percent over their 2020 totals in the 15 states with designated surplus lines stamping offices. The increases ...
Progressive’s Q4, Full-Year Net Income Dropped Over 40%
Fourth-quarter 2021 earnings at Progressive Corp. fell 43 percent compared with the same period a year ago to $962.3 million. The results were despite the personal and commercial property insurer ...
Only 38% of 2021’s Natural Disaster Losses of $343B Were Covered by Insurance: Aon
Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon's "2021 Weather, Climate and Catastrophe Insight" report. Insured losses ...
What’s Next? ‘Adaptive Insurance’ for Small Biz, Says InsurTech CEO
Over the course of the last six years, Next Insurance has adapted its business model, its distribution method, and its product offerings. Coming up next, the InsurTech aims to offer "adaptive ...
Aon: Catastrophe Bond Sector Celebrates 25th Anniversary With Record Issuance
Aon plc data revealed that 2021 catastrophe bond issuance reached $12.5 billion, with more than $32 billion of bonds now active in the market. This record annual issuance surpasses the previous ...