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New Map Shows the Rise and Fall of California’s Coast
In a new California case study, NASA-led researchers highlight how modest vertical land motion can significantly impact local sea levels in the future. Amounting to just fractions of inches per year ...
State Farm Stronger as Underwriting Losses Shrink—But Not in California
After reporting a $13 billion underwriting loss in 2022 and $14 billion in 2023, State Farm recorded another underwriting loss last year—but the total for 2024 was less than half of those prior ...
Polished Gem GEICO Fuels Berkshire Hathaway Operating Gains
The work that GEICO's CEO has done to "repolish" Berkshire Hathaway's "long-held gem" got a special shout-out in Berkshire Chair Warren Buffett's 2024 annual report to shareholders this weekend. ...
Berkshire, Progressive Are 2024 Underwriting Profit Leaders; Industry Income Record
S&P Global Market Intelligence expects the U.S. property/casualty insurance industry to post more than $100 billion of net income for 2024—and that the biggest underwriting profits contributing ...
Hawaii Islands Sinking Faster in Some Areas, Increasing Flood Risk
Parts of Hawaii are sinking faster than others, according to a recent study led by researchers at the University of Hawaii at Mānoa, highlighting the flood risk to infrastructure, businesses and ...
‘Bleak’ Data: Insurance Co. Entry Level Hiring Expectations Hit Low Point
Insurance carriers expecting to add staff in 2025 are largely looking for experienced professionals rather than filling entry level roles, according to the latest Insurance Labor Market Study from ...
An Insurance Journalist’s Perspective on Southern California’s Wildfires
PART ONE OF A TWO-PART SERIESIt was pitch black in the house and the power was off. The Santa Ana winds were howling. As planned, my ...
Gen AI Is Shaking Up Underwriting, But Can It Replace Human Judgment?
Artificial intelligence technology has continued to evolve, and it's affecting many areas of insurance from claims to underwriting to customer service, according to panelists at the 2025 PLUS D&O ...
Sentry Transformation Saves ‘Tens of Thousands of Hours’ With AI in Claims
It would be hard to find a better testimonial to the power of artificial intelligence than what you'll get when you speak to people overseeing an AI and technology ...
Future of Jobs: Claims Adjuster Among Fastest Declining Professions
Insurance claims adjusters have something in common with postal clerks, cashiers, administrative assistants and graphic designers. These jobs all rank among those in the greatest decline over the ...
Performance Review: Why Insurers Struggle to Underwrite, Price and Reserve for Commercial Auto Risks
It has been 11 years since commercial auto loss ratios have outperformed the greater property/casualty industry.
There's no denying the frequency (aka secondary) perils have taken front and center stage when it comes to weather-related disasters and insurer claims. Growth was clearly a theme running through fourth-quarter 2024 conference calls, although the message coming from companies was necessarily more nuanced where growth in ... Nationwide's Casey Kempton has a vision to bring positive vibes back to engagements between personal lines insurers and their customers—and it starts with understanding ... If my conversations with property/casualty insurance executives are any indication, many leaders view enterprise risk management (ERM) as simply an exercise for complying ... The average American workday now concludes at 4:39 p.m., a notable 42 minutes earlier than it did just two years ago when the clock-out time hovered around 5:21 p.m., ... Non-weather-related water perils are a part of all insurers' books of business. But our environment is experiencing what seems to be increasingly unpredictable and ... For insurance carriers, delivering exceptional customer experience (CX) has never been more critical. Today's policyholders expect ... Nearmap, a location intelligence provider to insurers, has announced the launch of a pre-built AI-powered tool that allows insurance carriers to analyze risk at the ...
Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk
Over the past decade, there's been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial ...
How Cincinnati Insurance Does E&S
The Cincinnati Insurance Companies have grown business for 75 years through relationships with a carefully selected set of regional independent agents—and business in the surplus lines segment is ...
Despite Higher Insurance Costs, Risks, EVs Are Set to Dominate Roads in 2025
More car buyers are leaning toward purchasing an electric vehicle over a gas powered one, with 64 percent of consumers expected to choose an EV for their next vehicle, according to a report published ...
Contractors Insurance Alert: Construction Defect Lawsuits Rising
A new report identifying commercial litigation waves likely to pick up steam in 2025 highlights one particular theme that could further lengthen the tail of general liability claims for insurers ...
Rise of the Frequency Perils
Homeowners Insurance: Housing Shortage Collides With Wildfire Risk
Loss Uncertainty High Amid ‘Rapid Softening’: Liberty Mutual Exec
Using terminology that's more common among weather forecasters and catastrophe event modelers, a commercial lines insurance executive described an increasingly uncertain risk landscape uncomfortably ...
Bringing Positive Vibes Back to Personal Lines Insurance
S&P Puts State Farm General Ratings on CreditWatch
Potential downgrades of State Farm's California homeowners insurer came closer to reality when S&P Global Ratings put the "AA" financial strength and issuer credit ratings of State Farm General ...
Four States See Increase in Auto Insurance Liability Limits in 2025
New legislation enacted in four states ups the amount of liability insurance required to operate a vehicle, according to AIS Insurance Specialists. California increased its minimum insurance ...
AmFam Reports Underwriting Profit for 2024
After two years of combined ratios over 110, American Family Insurance reported an underwriting profit in 2024—with a 96.6 for the year for all property/casualty lines it writes. The improvement ...
Enterprise Risk Management Secrets for Long-Term Company Growth
Consumer Trust Issues Hinder Industry Efforts to Close Protection Gap: Survey
Most insurance executives surveyed last year believe they have "an ethical obligation" to close the protection gap—and also believe that "lack of trust in the insurance industry" is a key barrier ...
Progressive’s Margins Leave Room for Tariff Impacts; Others Ready Too
With its 2024 combined ratio falling comfortably more than 7 points below a targeted level of 96, Progressive has room to deal with the impacts of tariffs on car repair and replacement costs, the ...
Upgrades Up, Downgrades Down: AM Best Reviews 2024 Rating Actions
AM Best announced 34 upward credit rating actions for U.S. commercial lines insurers in 2024, over 60 percent more than the number registered for 2023, the rating agency reported in its official ...
Half-Past Four Is the New Five O’Clock in More Efficient Workday
How to Operate in Today’s ‘Bananas’ Casualty Insurance World
Leaders of the casualty insurance practices of a global insurance carrier and a North American specialty brokerage offered insights for insurance buyers and sellers to deal with today's casualty ...
Winter Weather Loss Prevention: A Strong ROI Opportunity for Property Insurers
California Commissioner ‘Provisionally’ OKs State Farm’s Rate Request
California Insurance Commissioner Ricardo Lara provisionally approved State Farm General's request for a 22 percent interim rate hike, the California Department of Insurance announced on Friday. The ...
Liberty Mutual to Sunset Safeco Brand in 2026
Safeco Insurance will stop being a brand name in 2026, and Liberty Mutual Insurance will sell all of its personal lines products under the Liberty Mutual name. Safeco has been Liberty Mutual's brand ...
Rail Thieves Steal $100M in Cargo in 2024
Highly organized crime rings are targeting railroads to steal millions of dollars in cargo, according to a recent update by the Association of American Railroads. Coordinated federal action is key to ...
Thirteen U.S. P/C Companies Impaired in 2023: AM Best Report
Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report. The insurance company impairments identified in ...
Where Homeowners Rates Are Rising—and Who Is Raising Them Most
According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by ...
Why the LA Wildfires Should Not Have Been a Surprise Loss
The January 2025 LA Wildfires caused unprecedented losses, but those losses should have been anticipated by insurers. The purpose of catastrophe models is to prepare insurers for losses that haven't ...
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 ...
Diversification, Risk Modeling Top of Mind for Carriers as Cyber Market Softens
As cyber insurance rates have begun to stabilize, insurance carriers are seeking more diversification to fuel their underwriting and growth strategies, according to panelists at this year's PLUS ...
How We’re Doing It: Boosting Corporate Culture and Customer Experience
Mixed Bag: What Trump 2.0 Tariffs, DOGE Activities Mean For Insurers
Setting aside the populist flavor of his campaign rhetoric, Donald J. Trump's previous service as the nation's 45th President presents a remarkable opportunity to make educated guesses about the ...
Third Party Risk Dominant Driver of Cyber Insurance Claims
New analysis shows vendor risk driving financial losses, making up nearly a quarter of material claims in 2024, according to cyber risk company Resilience. Third-party risk emerged as a dominant ...
Casualty Reinsurance Capacity Plentiful, But Concerns Over Future Availability Loom
Increasing litigation costs and higher jury awards continue to financially pressure the casualty reinsurance segment, forcing reserve strengthening measures for some carriers and prompting narrower ...
Take Down of Vehicle Hostage Scam Nets 16 Arrests in California
The California Department of Insurance is warning drivers about a vehicle hostage scam sweeping Southland, after the arrests of 16 residents involved in an alleged auto insurance fraud ring. Scams ...
Fresh Fire Danger Threatens Oklahoma, 400 Homes Already Destroyed
With Oklahoma still reeling from deadly wildfires that whipped across the state and destroyed hundreds of homes in recent days, authorities warned that this week would bring a renewed risk of fire to ...
AM Best: U.S. P/C Industry Improves Despite 2024 Underwriting Loss
The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. A report from industry rating agency AM Best ...
Qualtrics, McKinsey Estimate $100B Insurance Value Gains With AI-Enabled CX
A new report highlights an estimated $860 billion opportunity AI presents in customer experience across industries, including $100 billion for insurance, while also revealing that most senior ...
CoreLogic: Chicago Has Most Homes at Risk from Convective Storms
Convective storms added to a year of extreme weather events that will put pressure on property insurance rates, particularly in a few hard-hit states, a new report shows. CoreLogic released its 2025 ...
Updated: State Farm, Consumer Group Battle Ahead of Commish Decision
Ahead of a decision from California's insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their ...
Introducing Berkley Embedded
W.R. Berkley Corporation announced the formation of Berkley Embedded Solutions on Monday—a business focused on delivering tailored insurance products and services to customers at the point of ...
Nearmap Launches AI-Powered Portfolio Product
2025 Atlantic Hurricane Forecast: 15-19 Named Storms
A much cooler Atlantic Ocean is likely to lead to fewer, less intense hurricanes this year, according to a forecast issued last month by meteorological consulting firm Weather Bell Analytics. As La ...