P/C News
Consumers Face Higher Insurance Premiums Due to Severe Weather
Nearly three-quarters of Americans are concerned about how severe weather will impact their insurance coverage over the next five years, according to a new survey by Insurity. Cloud software provider ...
AM Best: U.S. P/C Industry Suffered Second Straight Year of $20B+ Underwriting Losses in 2023
Unprofitable results in the U.S. private passenger auto and homeowners/farmowners market insurance segments led to a second straight year of net underwriting losses in the property/casualty industry ...
After Slow 2023, M&A Activity Expected to Ramp Up This Year
More acquisition opportunities and continued competition across the market is expected in 2024, according to a new report, the "2024 Insurance M&A Outlook," by Deloitte. Property/casualty mergers ...
Millennials Most Likely to Embrace AI in P/C Insurance
Out of any other generation, millennials are more likely to view AI as a positive development in P/C insurance, according to insights unveiled in Insurity's 2024 AI in Insurance Report. The provider ...
P/C Sector Responsible for Layoffs of Nearly 7,000 in 2023
U.S. property/casualty insurance carriers led layoffs in the insurance industry last year, according to S&P Global Market Intelligence analysis. Nearly 20 companies reduced staff in 2023, said ...
U.S. P/C Carriers Post $32B Underwriting Loss for First Nine Months: AM Best
The U.S. property/casualty industry recorded a $32.2 billion net underwriting loss in the first nine months of 2023, $7.6 billion worse than the underwriting loss posted in the same prior-year ...
Robust ERM Programs Vital as Risks Evolve: Report
Though most insurance companies feel their enterprise risk management (ERM) programs are operating at a robust level, rising economic risks and claims costs and the increasing severity and frequency ...