Regulation & Compliance
Too Late? S&P Downgrades State Farm General (Updated)
Standard & Poor's Global Ratings announced a two-notch downgrade of State Farm General on May 13—on the same day that California's regulator approved an interim emergency homeowners rate ...
State Farm’s Emergency Homeowners Rate Hike Gets OK in California
State Farm General can move ahead with a proposal to raise California homeowners rates on an emergency interim basis, following years of financial stresses that depleted its surplus and billions of ...
P/C Market Challenges Fuel Surplus Lines Opportunities: AM Best
The U.S. surplus lines market notched double-digit year-over-year (YoY) premium growth from 2018-2023, as wholesale brokers tapped this market with greater frequency to explore coverage solutions for ...
Increased Writings in Homeowners Adds to U.S. Surplus Lines Growth
Increasing movement of homeowners insurance risk to the U.S. surplus lines market has continued to contribute to growth for nonadmitted insurers. According to a report from AM Best, surplus ...
High Tariff Impact on Personal Lines; Commercial Less Vulnerable
A glaring red block marked "high" appeared over the "personal lines/ loss costs" cell of a chart displaying the impact of tariffs on North American insurers created by Fitch Ratings this week. While ...
U.S. P/C Industry Combined Ratio Headed Back Up to 100: S&P Ratings
While the U.S. property/casualty combined ratio sat at the lowest level in five years during 2024, the industry's key metric is headed up to the 98-100 range for 2025, analysts from S&P Global ...
Is State Farm General Too Big to Fail? Calif. Rate Hearing Concludes
"Too big to fail"—a phrase associated with interconnected publicly traded financial services companies in the wake of the 2008 financial crisis—was revived in a new context last week. During a ...
AM Best: Tariff Uncertainty Could Lead to Credit Rating Changes for Insurers
According to AM Best, the balance sheets of insurers can be pressured by the stock and bond market volatility caused by recent tariffs, resulting in financial exposure that could lead to some changes ...