The most popular articles and news offered by Carrier Management.
Top Content
Why Homeowners Insurers Are Losing Money: Roofs Matter, Not Just Rates
Rate hikes haven't been enough to bring profits to U.S. homeowners insurers, according to a new analysis from Aon, which finds that returns-on-equity for a group of homeowners insurers studied are ...Soft Commercial Market Ahead: Prepare for Underwriter ‘Herd Behavior’
Commercial insurance pricing is cyclical, and the top of the hard market cycle appears to be at hand. While traditional cycle models point the finger at the availability ...
The Data Behind Rising Homeowners Premiums: By Peril and By State
The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual ...2025 Predictions: Tech and UBI Growth, 5 Carriers to Exit Auto Market
It's expected that in 2025, rising claims costs will continue to push insurance rates higher, frustrating customers and forcing insurers to customize products, according to a new report by global ...Experts Predict Impacts of $20-$25B+ Milton Hit to Insurers, Reinsurers
A wide cone of uncertainty surrounds insurance experts' pre-landfall predictions about the state of the industry that will prevail in the aftermath of Hurricane Milton, with most viewing it as a $20 ...Homeowners Insurers Argue for a 42% Average Rate Hike in North Carolina
With many western North Carolina residents still lacking power and running water from Hurricane Helene, a hearing began last Monday on the insurance industry's request to raise homeowner premium ...90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to ...Court Orders Start to Expose ‘Startling’ Data on Litigation Funding Sources
There is no federal law that requires the disclosure of litigation funding agreements in court cases, but some disturbing insight has been found in individual jurisdictions that have rules to ...Personal Auto Insurance Could Be Obsolete in 20 Years: Morningstar
Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate ...
Underwriting Games: To Manage the Cycle Effectively, Focus on Behavior
Prices are under pressure in many insurance markets. After an extended period where pricing levels have risen and held at profitable levels, the balance of power appears to be shifting to buyers. In ...Responding to Work Emails After Hours Contributes to Burnout, Hostility
Imagine it's Friday evening. You're about to watch a new Netflix drama, trying to unwind after a long week. Suddenly, your phone pings with a work email marked "urgent." ...
Reinsurers Open for Business—Even U.S. Casualty, Execs Say
Although Monte Carlo convos about reinsurer appetites for U.S. casualty business prompted some flashbacks to the 1980s, reinsurance company executives who spoke after the Rendez-Vous de Septembre ...The Benefits of a Four-Day Workweek
Companies exploring the option of letting employees work four days a week hope to reduce job burnout and retain talent seeking a better work-life balance, according to ...
New Hire Relationships: Men Rewarded for Meet and Greet Behavior
Building relationships with colleagues is critical when starting a new job, but a Rutgers-led study in the Journal of Management Scientific Reports suggests that only men are rewarded for their ...The Latest Hurricane Helene Insured Loss Estimates: Totals Move Higher
Early estimates of Hurricane Helene U.S. private insurance market losses in the $5 billion to $10 billion range have moved up higher in recent days, with Moody's RMS offering the latest estimates of ...A Telematics Future: Don’t Forget Insurance Agents
During a recent interview, Matteo Carbone, director of the IoT Insurance Observatory, described a new set of approaches, modeled on the success of South African insurer Discovery, which U.S. auto ...Where Are the Private Insurers? Analyses Highlight U.S. Flood Gap
Two new analyses—one from a risk modeler estimating insured damages from Hurricane Helene, and the other from a rating agency about flood insurance penetration and profitability—highlight the ...Lloyd’s Focuses on Delegated Authority Arrangements as Looming Market Risk
While the Lloyd's market reported its best first-half profit in 17 years, it isn't resting on its laurels. It is carefully monitoring areas where potential vulnerabilities have been identified. ...Small Track Changes Drive $70B+ Swing in Milton Insured Loss Estimates
Insured losses from Hurricane Milton could sit anywhere within a $70-plus-billion range extending from $9 billion to $85 billion, experts from CoreLogic said yesterday afternoon, at least nine hours ...Hurricane Milton Has Reshaped Storm Science Even Before Making Landfall
Long after the winds subside and the hard work of rebuilding begins, scientists responsible for predicting hurricanes will continue to replay Hurricane Milton over and ...
AccuWeather Raises Helene Total Damage Estimates by $50B; Insured Loss Estimates Not Ready
While inland flooding complicates the picture of still-to-be-determined insured loss estimates from Hurricane Helene, a weather forecasting firm has already delivered a second estimate of total ...S&P Reveals Top 50 Largest P/C Insurers
As the third-fastest growing company on a list of the world's top 50 largest insurance companies, State Farm Mutual Automobile Insurance Co. continued to rank No. 1, according to research S&P ...Understanding and Managing Overconfident, Passionate Employees
When plotting their career trajectories, young professionals are often encouraged to follow their passion. And in the entrepreneurial world, passion is often seen as a key ingredient for success. But ...State Farm Posts Worst HO Loss Ratio Since 2011; Peers Recover: S&P GMI
State Farm was the only one of 10 major players in the homeowners insurance market reporting a worse second-quarter loss ratio for the line than it did in 2023, according to a new analysis. The ...Severity of Ransomware Attacks Rose 68% in First Half of 2024, Report Shows
Ransomware claims severity spiked by 68% to an average loss of $353,000, according to a new report by a cyber insurance provider. Coalition published its 2024 Cyber Claims Report: Mid-year Update, ...Repair Times Decline by 5 Days, Auto Claims Costs Continue to Rise: JD Power
Rising auto insurance premiums and long cycle times have been the bane of insurers for some time. A new report, "U.S. Auto Claims Satisfaction Study" from J.D. Power, finds that the average repair ...Has Driving Behavior Changed?
If you're feeling less safe driving on the nation's roads than you used to, it's not your imagination, according to Gary Hallgren, president of Arity, a B2B mobility data ...
S&P GMI Performance Rankings: E&S Insurer Kinsale Takes Top Spot
A hard market, resilient domestic macroeconomic conditions and strong underwriting results have elevated specialty commercial carriers to the top of S&P Global Market ...
World’s Largest Reinsurers: AM Best’s Latest Ranking…sort of
Every year around this time, AM Best publishes a single list of the "World's 50 Largest Reinsurers," ranked based on unaffiliated gross premiums recorded in the prior year. The latest installment, ...Insurance Execs See Gen AI Necessary To Compete; Customers Wary
Insurance industry investments in generative AI are expected to surge by over 300 percent from 2023 to 2025 as organizations move from pilots in one or two areas to implementations in multiple ...Find Digital Transformation Scary? Consider What’s Lurking in Your Old Tech
Thoughts of digital transformation may be unnerving, but what should really scare you is your old tech. In fact, that old tech is likely haunting you. It is common for carriers and MGAs to cling to ...The Latest Hurricane Milton Insured Loss Estimates: $17B-$50B
Catastrophe risk modelers delivered a wide range of estimates of insured losses from Hurricane Milton this week—ranging from a low of $17 billion to a high of $50 billion. Estimates as of Oct. 17 ...Progressive Retaining Helene, Milton Property Losses Net; Auto Over $0.7B
Progressive disclosed property and vehicle insurance loss estimates for Hurricanes Helene and Milton in conjunction with the carrier's report of third-quarter earnings yesterday, indicating it won't ...Broker Exec Decodes Property Reinsurer Speak: ‘We Want to Grow’
When the president of Aon attended the Rendez-Vous de Septembre, he came away with a forecast hidden behind the words reinsurers were explicitly delivering. "Each of the reinsurers led every meeting ...CEO View: How to Bolster Commercial Underwriting With AI Assistants
Having entered the business and technological mainstream two years ago, Generative AI is now helping to boost operations and cost efficiency across the insurance landscape. Among GenAI's cutting-edge ...Repeat of 1/1/2023 Reinsurance Hikes Unlikely As Reinsurers Take Milton Hit
Reinsurers will have some meaningful losses from Hurricane Milton but a replay of the shocking price hikes cedents experienced during Jan. 1, 2023 renewals isn't likely to repeat for 2025, Fitch ...Grandisson Retires; Papadopoulo Is Now Arch Capital CEO
Nicolas Papadopoulo has been named chief executive officer of Arch Capital Group Ltd., succeeding Marc Grandisson, who has decided to retire from the company, Arch announced. Papadopoulo, who has ...Rural Mutual, Badger Mutual Agree to Affiliate
Wisconsin-based mutual insurers, Rural Mutual Insurance Company and Badger Mutual Insurance Company, have announced an affiliation. The affiliation is subject to regulatory approval with an ...Underwriters Wary of PFAS Amid ‘Superstorm’ of Litigation, Regulation
As litigation and regulation increase around per- and polyfluoroalkyl substances (PFAS), insurance underwriting is tightening across lines. Insurance professionals who ...
Federal Flood Maps Are No Match for Florida’s Double Hurricane
Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast U.S., it's already clear that federal flood-risk maps underpinning ...
Auto Insurers Face Rising Repair Costs, EV and Tech Complexity in 2025: Report
Amid inflation and labor shortages, the growing impact of electric vehicles (EVs) and rising repair costs, insurers and repairers will have a bumpy road to navigate in the year ahead, according to ...Florida Issues Last Minute Emergency Rule to Deter Unfair Practices by Insurers
Just before Hurricane Milton made landfall on the West Coast of Florida, state officials pushed through an emergency rule aimed at insurance companies in an effort to deter unfair claims practices ...Milton Threatens to Upend Shaky Florida Homeowners Insurance Market
Hurricane Milton threatens to swamp Florida's troubled property-insurance market, potentially pushing prices higher and threatening coverage in a storm-prone region that already has the highest ...Economic, Social Inflation Influencing Drop in Auto Insurance Underwriting Profits: Triple-I/CAS
Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by ...Study: MGA Market Still Growing
A hard market combined with underwriting capacity from fronting companies allowed for robust growth in the MGA market in 2023, according to a new Conning strategic study. The global investment ...What Liability Insurance Underwriters Should Know About Microplastics
Plastics. What was once the pithy career advice memorably offered in the movie "The Graduate" has some potentially noteworthy similarities to one of today's most ...
The High Cost of Negative Consumer Perception
Let's talk some truth. Of all the challenges the insurance industry is facing today, chief among them is the reality that insurance is becoming very hard for people to ...
One-Third of Global Population at Risk for Floods: Moody’s
A new white paper from Moody's reveals that 2.7 billion people — more than one-third of the global population — live in areas vulnerable to inland or coastal ...
GenAI: Why Many Insurance Companies Are Getting It Wrong
Since November 2022 when OpenAI brought LLMs and GenAI to the broad public, I have discussed AI with more than 100 insurance companies, both big and small. Nearly every one of them has conducted at ...The Merger of Strategy and Risk: Understanding the Why
Over the last few years, research has shown that an increasing number of employees want to understand the "why"—or otherwise have purpose—behind what they do to be ...