Insurance Journal

AUGUST 30, 2024

Florida’s insurance commissioner in early August noted that rate increases by property-casualty insurers in the state have slowed significantly since 2023 legislative reforms were enacted, with 12 carriers asking for a small decrease this year and another two dozen filing …

Casualty Insurance 301

Casualty Insurance Insurance Insured Insurer 301

Insurance Journal

OCTOBER 10, 2024

property/casualty insurers, affecting underwriting margins and earnings. Insurers And … S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. In a report titled “Hurricane Milton: The Implications For Rated U.S.

Casualty Insurance 264

Casualty Insurance Underwriter Underwriting Insurance 264

Insurance Journal

DECEMBER 15, 2024

When analysts at AM Best reviewed outlooks for the property/casualty insurance and reinsurance sectors this week, recent good news of a change in outlook for personal linesand for the personal auto insurancewere the first highlights. But a cloud remains over …

Casualty Insurance 298

Casualty Insurance Insurance Insured Insurer 298

Insurance Journal

FEBRUARY 19, 2025

While writing primary casualty insurance is more appealing than writing casualty reinsurance, the chief executive of Arch Capital said casualty reinsurance business remains attractive for his company. Speaking during an earnings conference call on Feb. 10, after reporting $3.5 billion …

Casualty Insurance 239

Casualty Insurance Insurance Insured Insurer 239

Insurance Journal

JULY 25, 2024

Pennsylvania National Mutual Casualty Insurance Co. cannot escape the long tail of asbestos, and must cover part of the litigation losses for an asbestos installation company that went out of business more than 30 years ago, the South Carolina Supreme …

Casualty Insurance 278

Casualty Insurance Insurance Insured Insurer 278

Insurance Journal

JULY 31, 2024

AM Best revised the outlooks to positive from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of Stonetrust Commercial Insurance Company and Stonetrust Premier Casualty Insurance Company. Stonetrust is …

Workers Comp 278

Workers Comp Casualty Insurance Commercial Insurance Commercial 278

Insurance Journal

JULY 22, 2024

The Pennsylvania Insurance Department (PID) reported that it has saved consumers $98.3 million in annual auto, home and other property/casualty insurance premiums in the first six months of 2024 through its review of insurance company rate filings. The vast majority …

Casualty Insurance 276

Casualty Insurance Premium Insurance Companies Insurance 276

Insurance Journal

JULY 15, 2024

Favorable first-quarter economic and underwriting results for property/casualty insurance are in line with projections that the industry will see a small underwriting loss in 2024 and achieve profitability in 2025, according to a report from the Insurance Information Institute (Triple-I) …

Premium 277

Premium Casualty Insurance Underwriter Underwriting 277

Insurance Journal

AUGUST 20, 2024

Litigation that seeks to win Medicare reimbursements from insurance companies has become a huge business over the last decade, making one Miami lawyer a billionaire and causing expensive, ongoing legal headaches for property-casualty insurers. But the federal law that allows …

Casualty Insurance 275

Casualty Insurance Insurance Companies Insurance Insured 275

Insurance Journal

JULY 25, 2024

Executives of two property/casualty insurance organizations—Kinsale Insurance and the U.S. P/C operations of Arch Capital—shared their recipes for success with an analyst who crowned their companies as performance leaders during a recent industry webinar. The short takes: We don’t outsource …

Underwriter 278

Underwriter Underwriting Casualty Insurance Insurance 278

Insurance Journal

AUGUST 23, 2024

OneDigital, an insurance brokerage, financial services and human resources firm based in Atlanta, has acquired Elite Insurance Solutions, a property-casualty insurance agency in Franklin, Tennessee, the company announced this week. Elite was founded in 2008 by Mike Stansbury and Randy …

Casualty Insurance 265

Casualty Insurance Insurance Agency Insurance Insured 265

Insurance Journal

NOVEMBER 13, 2024

North American specialty insurance brokerage Risk Strategies reports it has acquired Felsen Insurance Services, Inc., a New Jersey-based agency offering commercial and personal property/casualty insurance. Terms of the deal were not disclosed. Established in 1985, Felsen is based in Denville, …

Risk 264

Risk Casualty Insurance Personal Property Commercial 264

Insurance Journal

OCTOBER 17, 2024

Unison Risk Advisors (URA) has acquired Enders Insurance, a family-run property/casualty insurance agency based in Harrisburg, Pennsylvania. Enders has more than 60 employees throughout its central Pennsylvania office locations including Lancaster, Reading and Middleburg. Currently led by Andrew Enders, the …

Risk 264

Risk Casualty Insurance Insurance Agency Insurance 264

Insurance Journal

JULY 14, 2024

The commercial auto insurance segment maintained its place as a weaker-performing U.S. property/casualty insurance product line in 2023. Despite successive periods of pricing and underwriting actions, commercial auto has generated a statutory combined ratio above 100 in 12 of the …

Auto Insurance 263

Auto Insurance Commercial Casualty Insurance Underwriter 263

Insurance Journal

JULY 23, 2024

a global insurance brokerage and financial services firm, has acquired Wade Associates, an independent agency with offices in North Carolina. Wade has specialized in property/casualty insurance for construction, manufacturing, health care and technology sectors, Hub said in … Hub International Ltd.,

Casualty Insurance 263

Casualty Insurance Insurance Insured Insurer 263

Insurance Journal

SEPTEMBER 25, 2024

Sompo, the Bermuda-based provider of commercial and consumer property/casualty insurance and reinsurance, announced the launch of a new national marine insurance proposition for the United Kingdom. Sompo’s Marine Cargo UK policy and its Transport & Logistics propositions are both designed …

Marine 264

Marine Casualty Insurance Commercial Insurance 264

Insurance Journal

OCTOBER 21, 2024

Starr Insurance reported that South Korea’s Financial Services Commission has granted Starr International Insurance (Singapore) Pte. Korea branch, a license to operate in Seoul and begin selling commercial property/casualty insurance throughout Korea. “Korea is one of the largest commercial …

License 264

License Commercial Commercial Insurance Commercial Property 264

Insurance Journal

SEPTEMBER 16, 2024

A turnaround in the personal lines insurance segment results was a key driver of an overall $3.8 property/casualty insurance industry, according to a new report from AM Best. billion profit from underwriting for the U.S. Best’s Special Report, titled, “First …

Underwriter 263

Underwriter Underwriting Casualty Insurance Insurance Industry 263

Insurance Journal

SEPTEMBER 16, 2024

Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler …

Casualty Insurance 263

Casualty Insurance Damage Insurance Insured 263

Insurance Journal

JULY 14, 2024

By Chad Hemenway Independent agents placed more than 62% of all property/casualty insurance written in the U.S., according to the Independent Insurance Agents & Brokers of America (the Big “I”). The association’s 2024 Market Share Report said independent agents have …

Broker-Agent 264

Broker-Agent Premium Casualty Insurance Insurance Agents 264

Insurance Journal

SEPTEMBER 29, 2024

ISU Francis-Pinney Insurance Services evolved through several mergers, including All-Cal Insurance and the John A. Sacramento, California-based Inszone is an insurance brokerage firm that provides property/casualty insurance … Francis Agency.

Casualty Insurance 264

Casualty Insurance Insurance Insured Insurer 264

Insurance Journal

JANUARY 7, 2025

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. As for commercial P/C insurance, … and UK as a reason for the upgrade.

Commercial 262

Commercial Casualty Insurance Insurance Industry Insurance 262

Insurance Journal

OCTOBER 16, 2024

Fitch Ratings has affirmed the ‘A+’ (Strong) Insurer Financial Strength (IFS) ratings for Cincinnati Financial Corporation’s (CINF) three property/casualty insurance subsidiaries and its life insurance subsidiary the ‘A+’ (Strong).

Casualty Insurance 262

Casualty Insurance Life Insurance Insurance Insured 262

Insurance Journal

DECEMBER 12, 2024

New York is considering asking property and casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co., according to people familiar with the plans. That measure is one of several options under discussion as the state’s …

Property Insurance 246

Property Insurance Claim Casualty Insurance Insurance 246

Insurance Journal

DECEMBER 26, 2024

announced the acquisition of Oakbrook Terrace, Illinois-based Afina Insurance Advisors Inc. Afina Insurance). Afina Insurance is a property/casualty insurance broker serving clients in greater Chicago. Gallagher & Co. Terms of the transaction were not disclosed. George Van Denend …

Casualty Insurance 246

Casualty Insurance Insurance Broker Broker Insurance 246

Insurance Journal

NOVEMBER 3, 2024

Todayis insurance regulatory landscape can be a tricky one, particularly when it comes to charging fees. For property/casualty insurance brokers and agents, understanding permissible fee structures is crucial to maintaining compliance and avoiding penalties. With state laws varying widely and …

Broker-Agent 246

Broker-Agent Casualty Insurance Insurance Broker Broker 246

Insurance Journal

SEPTEMBER 15, 2024

The property/casualty insurance industry and excess and surplus lines brokers in particular are at the world’s beck and call to help navigate what is an increasingly risky environment. The industry continues to respond as social, environmental, technological, political, legal, scientific …

Casualty Insurance 246

Casualty Insurance Insurance Industry Broker Insurance 246

Insurance Journal

DECEMBER 5, 2024

Summit, a regional provider of workers’ compensation insurance services, announced the expansion of its coverage into Illinois.

Workers Comp 243

Workers Comp Casualty Insurance Compensation Insurance Companies 243

Insurance Journal

SEPTEMBER 15, 2024

By Allen Laman Continuing worker shortages, the threat of nuclear verdicts in some geographical locations, and the implementation of new technology are all shaping the property/casualty insurance market for senior living facilities. Challenging areas for coverage can vary by location, …

Casualty Insurance 241

Casualty Insurance Insurance Insured Insurer 241

Insurance Journal

OCTOBER 6, 2024

Losses from Hurricane Francine are expected to be manageable for property/casualty insurers, with major population centers sparred from the worst of the storm’s damage. Privately insured loss from Hurricane Francine are estimated to be close to $1.5 billion, catastrophe modeler …

Casualty Insurance 241

Casualty Insurance Damage Insurance Insured 241

Insurance Journal

SEPTEMBER 15, 2024

property/casualty insurance industry recorded a net underwriting gain of $3.7 billion and net income of $94.6 billion for the first-half of 2024, according to a new report. “After years of consistent losses, premium growth is helping the overall …

Insurance Industry 241

Insurance Industry Underwriter Underwriting Casualty Insurance 241

Insurance Journal

JULY 14, 2024

property/casualty insurers posted a net combined ratio of 94 — the best since first-quarter 2007. By Susanne Sclafane Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. Translating to …

Casualty Insurance 240

Casualty Insurance Underwriter Underwriting Liability 240

Insurance Journal

OCTOBER 6, 2024

AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “bbb+” (Good) from “a-” (Excellent) of Texas Farm Bureau Casualty Insurance Company and its affiliates, Farm …

Casualty Insurance 240

Casualty Insurance Insurance Companies Insurance Insured 240

Insurance Journal

JANUARY 28, 2025

billion boost in its casualty insurance reserves. The company, which writes more than twice as much reinsurance premium as insurance premium, … Everest Group preannounced full-year 2024 earnings yesterday, disclosing about a 45% drop in net income attributable to a $1.7

Casualty Insurance 195

Casualty Insurance Premium Insurance Insured 195

Insurance Journal

JANUARY 28, 2025

The American Property Casualty Insurance Association (APCIA) recently released a report that concludes over-regulation impedes insurance markets “Insurance markets function best when allowed to operate competitively, free from excessive price regulation,” said Robert Gordon, APCIA’s senior vice president, policy, research … (..)

Casualty Insurance 173

Casualty Insurance Insurance Insured Insurer 173

Insurance Journal

FEBRUARY 9, 2025

If there is a single bright spot to be found in the aftermath of the costliest wildfire in California’s history, it is that both the property/casualty insurance industry and the independent agents who serve as its personal point of contact …

Agents 189

Agents Casualty Insurance Insurance Industry Insurance 189

Insurance Journal

FEBRUARY 5, 2025

The insurance industry admittedly may not be as glamorous as high-tech, investment banking, advertising, or Hollywood. After all, consider that the most influential publication on what’s happening in property & casualty insurance is titled IBNR Weekly (where IBNR means incurred …

Casualty Insurance 173

Casualty Insurance Insurance Industry Insurance Insured 173