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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 ...
Property and Casualty Insurance Trends for 2025
The year 2024 has been a volatile one for P/C carriers, prompting many insurance professionals to speculate about what 2025 has in store. On a positive note, U.S. ...
Mercury General Wildfire Losses Will Hit Reinsurance Cover. One Event?
Mercury General Corporation said it expects losses from wildfires burning in California since Jan. 7 to exceed its $150 million reinsurance retention, without providing a specific dollar estimate of ...
Four P/C Insurers Are ‘AI Titans’; AI Impact Leaders Revealed: Research
A research firm has identified 100 insurance industry participants that are making a difference with artificial intelligence, including four insurance carriers with property/casualty insurance ...
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 ...
Reporter’s Notebook: ‘Nobody Else Does Telematics,’ Lemonade Exec Says
Executives speaking at Lemonade's Investor Day event late last month made several statements suggesting that their approaches to personal lines insurance set the technology company apart from the ...
2025 Underwriting Profit and ‘Shop-a-Palooza’ Predicted for Auto Insurance
2024 was another tough year for personal lines insurers and their customers. In this space in late 2023, I wrote that seven of the 10 most read articles of 2023 were about the impacts of inflation ...
Insured Losses From Los Angeles Wildfires Rising: $8B to $20B
With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of destructive Los Angeles area blazes are sure to become ...
First 2025 Atlantic Hurricane Season Forecasts 7 Named Storms
An early prediction of the 2025 Atlantic hurricane season suggests there will be 15 tropical storms, with 7 named storms, according to Tropical Storm Risk (TSR). In a forecast summary released last ...
Significant But ‘Manageable’ Insurance Losses Expected From LA Fires: S&P
Insurers are facing significant losses from the catastrophic Los Angeles wildfires—given the high value of homes and businesses in the affected communities. However, those losses are likely to be ...
NWS Preliminary Estimate for 2024: More Than 5,300 Hail Events, 1,855 Tornadoes
Last year was eventful for weather in the United States, according to preliminary figures compiled by the National Weather Service. There were 1,855 documented tornadoes with an estimated 82 of them ...
U.S. Insurance Deals Outlook: More, More, More
In mid-December, PwC tallied a surge in M&A deals in the U.S. insurance industry in the second half of 2024, and predicted an active year in 2025 with brokerage and MGA deals leading the way. ...
Musk’s Massive Tesla Lithium Plant Hunts for Water in Drought-Hit Texas
Twenty miles outside Corpus Christi, Texas—an area so dry the local water company distributes shower timers at high school football games—the world's richest man is nearly done building a lithium ...
Surviving the ‘Silver Tsunami’: Closing the Talent, Skills Gap in Underwriting
With a "silver tsunami" of skilled underwriters eligible to retire in coming years and a shift in employee expectations, recruitment and retention is a critical focus for ...
Empowering the ‘Semi-Captive’ Agent: A New Playbook for Insurers
Depending on how much control an insurance carrier wishes to exert over its brand vs. the amount of access to new markets it wishes to penetrate, insurance carriers have ...
California Wildfires Could Spark Insurance Moratoriums, Other Challenges
As wildfires continue to wreak havoc across California, experts say one part of the recovery process that is proving particularly challenging for high-net-worth ...
New Commercial Auto Exposures: The Evolution of Terror Liability Risk
While it may be too soon to talk about the insurance impact of tragic events, that is what we do in the insurance industry. So, hopefully you will understand my attempt ...
Are Cars ‘Structures’? Tallying the Damage from the Los Angeles Wildfires
The extent of the damage from wildfires ravaging the Los Angeles area is horrific however it's tallied: Neighborhoods have been erased, landmarks destroyed and lives lost. But officials have prompted ...
Bumps Ahead as Disruption Drives Changes in Auto Insurance
There is no doubt the auto insurance industry is in a state of flux. Rising repair costs, poor driving behavior and advancing auto technology has disrupted the market, ...
National Flood Insurance Program Authorized to Continue Through Mid-March
The National Flood Insurance Program has been renewed for another three months. On Dec. 21, 2024, the day after it was set to expire, the president signed legislation passed by Congress that extends ...
Slideshow: Carrier Management’s 2024 Top Editor’s Picks (Unlocked)
Happy New Year! We are unlocking 10 feature articles that we were proud to publish in 2024—my Editor's Picks for 2024. (Free access links to our reader picks—the 10 most-read feature articles of ...
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 ...
Dear Elon and Vivek: Insurance Commissioners Urge DOGE to Ditch FIO
Insurance commissioners from nine states are looking to the new Department of Government Efficiency to do away with the Federal Insurance Office. In a letter, addressed to DOGE heads Elon Musk and ...
Will California’s FAIR Plan Have Enough Cash for Its Wildfire Claims?
There has been some question about whether California's insurer of last resort – the FAIR Plan – has enough cash on hand to pay for its share of wildfire claims. As surplus is inadequate and ...
Leading Insurance Innovation in the AI Age (Part 1: Culture)
Insurance leaders are concerned about the return on investment of their AI initiatives. While AI holds great promise, there's also a lot of hype—and a lot of ...
Why All the Fuss? Fairness Regulations Meet Insurers’ Growing Use of AI
Insurers worldwide are increasingly embracing artificial intelligence (AI) and machine learning (ML) powered decision support tools (Artificial Intelligence Systems or AIS)— both home-grown and ...
Moody’s Global P/C Outlook Now Stable Despite Past-Peak Commercial Pricing
Moody's Ratings changed the sector outlook for the global property/casualty insurance industry to stable from negative last month, pointing to personal lines price hikes in the U.S. and UK as a ...
Property/Casualty Insurance in the Era of Rising Complexity
The last half-decade has brought about tremendous change as property and casualty insurers have been operating in an era of rising complexity. Continuous shifts in the ...
Auto Insurer Files $450M Fraud RICO Case in NY
Commercial automobile liability insurer American Transit Insurance Company (ATIC), with specialization in the taxi and for-hire vehicle sector, filed a lawsuit this week seeking more than $150 ...
Reinsurers in Growth Mode Brought Capacity, Flexibility to 1/1 Renewals
Reinsurance buyers generally found ample capacity during the January renewals, reinsurance brokers Aon, Gallagher Re and Howden confirmed in their renewal reports. Increased reinsurer appetites meant ...
Swiss Re’s Business Unit CEOs Share Views on Key Risk Themes of 2025
Social inflation will continue to be a top concern for insurers and reinsurers in 2025 with U.S. liability claims increasing by 57 percent during the past decade and nuclear verdicts rising in ...
Los Angeles Fires Become Existential Test for California’s Stopgap Insurer
The conflagrations tearing across Los Angeles are on track to be among the most expensive wildfire disasters in U.S. history, draining insurance coffers and threatening California's massive ...
A New Claims Playbook: United and Street Smart on Litigation Demands
Social inflation is at the heart of rising claims severity trends showing up on the books of casualty insurers and reinsurers, industry representatives agree.
"But ...
Smoke, Coverage Issues Cloud Wildfire Forecast: $35-$45B Losses Insured
CoreLogic announced a preliminary range of insured loss estimates for the Eaton and Palisades Fires in Los Angeles, Calif., of $35 to $45 billion, but there are a lot of factors that could change the ...
California Wildfires Will Likely Lead to Large Economic and Insured Losses
Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what ...
As Life Shifts Gears, Insurance CEO Chases Racing Dream
After Tim Hardcastle zipped along the straights of the Silverstone Race Circuit in England earlier this year, the InsurTech CEO stood on the podium, shaking a bottle of prosecco, celebrating his ...
California Insurers Required to Increase Home Coverage in High Risk Wildfire Areas
Insurance companies that stopped providing home coverage to hundreds of thousands of Californians in recent years as wildfires became more destructive will have to again provide policies in ...
More Arrests Made in $8M Auto Theft Ring Bust
Four additional members of an alleged criminal organization responsible for the thefts of hundreds of vehicles in Southeast Michigan, totaling more than $8 million, have been arrested. The charges ...
E&S Market Sees 21% Compound Growth Within Past 5 Years: Conning
Excess and surplus (E&S) lines of insurance have experienced unprecedented growth, realizing 21 percent compound annual growth rate over the past five years and surpassing $104 billion in ...
Study Shows Some Buildings Along Miami Coastline Are Sinking
A study published last month revealed that 35 buildings along a Florida coastline are experiencing subsidence, a process where the ground sinks or settles, according to researchers at the University ...
Generative AI: A Double Agent Serving Good and Evil in the World of Claims
Claims professionals need to adapt to the AI evolution at a fast pace as the same technologies used to fight claims fraud are also being used to perpetuate it, according ...
Viewpoint: Strategies for Brokers as M&A Slows and Insurance Rates Soften
The insurance brokerage industry is adapting to a changing landscape as macroeconomic conditions temper the tailwinds that have driven growth in recent years. High interest rates, historical ...
The Most Important 2025 Los Angeles Wildfire Stories; Latest Loss Estimates
As firefighters gain more control over what have become the most destructive wildfires in U.S. history in a matter of days, the scale of the destruction and losses is becoming clearer. Despite the ...
Embracing Cloud, SaaS: A Strategic Move for Insurers
As widespread digitization continues to mold the bedrock of the insurance industry, insurers are increasingly adopting cloud computing and Software as a Service (SaaS) technologies with the promise ...
Loss-Free Property Cat Rates Fall 5-15% as Reinsurer Appetite Grows: Guy Carpenter
Global reinsurers' appetite rose for property catastrophe during the upcoming January renewals, which have seen risk-adjusted reinsurance rate reductions of 5-15 percent for loss-free accounts, ...
P/C Insurance Market Profitability Expected to Continue Through 2026
A new industry report indicates the U.S. property/casualty (P/C) market in 2024 is forecast to have continued its trajectory of improving underwriting results, according to the Insurance Information ...
Study: Widening Gap Between Cyber Attack Causes, Public Perception
A new study from Hive Systems, a global provider of cybersecurity services and products, finds that the public and media are misaligned when it comes to actual cybersecurity risks, leaving ...
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 ...
New Specialty Insurer Says Collector Car Owners Are Being Overcharged
Classic and collector car insurer OpenRoad says that because standard auto insurers continue to recover from unprecedented losses experienced during COVID-19 due to spikes in catastrophic insurance ...