Insurance Journal

DECEMBER 26, 2024

Insurance trade organizations are always working for the industry so Insurance Journal asked them: What are the top priorities and/or challenges heading into 2025? Sampson, president and CEO, American Property Casualty Insurers … Here are the responses we received: David A.

Casualty Insurance 274

Casualty Insurance Insurance Insured Insurer 274

Insurance Journal

AUGUST 29, 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 278

Insurance Industry Underwriter Underwriting Casualty Insurance 278

Insurance Journal

JANUARY 22, 2025

Treasury’s Federal Insurance Office last week released what it called the “most comprehensive data on homeowners insurance in history.” ” Weeks after a U.S. Senate committee released a study and held a hearing on the affect of climate change …

Insurance 272

Insurance Insured Insurer Casualty Insurance 272

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

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 288

Casualty Insurance Insurance Insured Insurer 288

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 262

License Commercial Commercial Insurance Commercial Property 262

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 275

Workers Comp Casualty Insurance Commercial Insurance Commercial 275

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 Personal Property Casualty Insurance 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 262

Risk Casualty Insurance Insurance Agency Insurance 262

Insurance Journal

SEPTEMBER 29, 2024

Inszone Insurance Services acquired ISU Francis-Pinney Insurance Services Inc. 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 …

Casualty Insurance 262

Casualty Insurance Insurance Insured Insurer 262

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 258

Auto Insurance Commercial Casualty Insurance Underwriter 258

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 150

Agents Casualty Insurance Insurance Industry Insurer 150

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 269

Casualty Insurance Premium Insurance Companies Insurance 269

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 263

Marine Casualty Insurance Commercial Insurance 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 258

Casualty Insurance Damage Insurance Insured 258

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 245

Casualty Insurance Insurance Broker Broker Insurance 245

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 239

Casualty Insurance Insurance Agency Insurance Insured 239

Insurance Journal

MARCH 5, 2025

The president and CEO of the American Property Casualty Insurance Association issued a statement calling the tariffs on Mexico, Canada, and China a disruption as many homeowners attempt to rebuild after recent natural catastrophes. “Tariffs can be effective tools of …

Casualty Insurance 133

Casualty Insurance Insurer Insurance Insured 133

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 226

Casualty Insurance Damage Insurance Insured 226

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 294

Casualty Insurance Insurer Insurance Insured 294

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 228

Casualty Insurance Insurance Insured Insurer 228

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 226

Insurance Industry Underwriter Underwriting Casualty Insurance 226

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 277

Casualty Insurance Insurer Insurance Insured 277

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 275

Underwriter Underwriting Casualty Insurance Insurer 275

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 273

Premium Casualty Insurance Underwriter Underwriting 273

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 223

Casualty Insurance Underwriter Underwriting Liability 223

Zywave

MARCH 3, 2025

The casualty insurance market is currently experiencing unprecedented volatility, with significant pricing fluctuations and escalating loss costs becoming the norm. While it’s critical insurance carriers, brokers, and policyholders understand the market, its just as important they know what to do about it.

Casualty Insurance 52

Casualty Insurance Policyholder Liability General Liability 52

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 265

Casualty Insurance Insurance Companies Insurer Insurance 265

Insurance Journal

MARCH 12, 2025

property/casualty insurance industry to post more than $100 billion of net income for 2024and that the biggest underwriting profits contributing to the figure will come from units of Berkshire Hathaway and Progressive. S&P Global Market Intelligence expects the U.S. The …

Underwriter 239

Underwriter Underwriting Casualty Insurance Insurance Industry 239

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 Agents 264

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 258

Casualty Insurance Insurer Insurance Insured 258

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 259

Underwriter Underwriting Casualty Insurance Insurance Industry 259

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 254

Commercial Casualty Insurance Insurance Industry Insurer 254

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 253

Casualty Insurance Life Insurance Insurer Insurance 253

Property Insurance Coverage Law

NOVEMBER 1, 2024

Note: This guest blog is by Frank Lombard, CPCU, ARM, an independent property/casualty insurance advisor. Not a day passes without reading something about double-digit increases in the cost of home insurance. The insurance industry claims the increases are a result of inflation, climate change, and consumers filing more claims.

Home Insurance 189

Home Insurance Casualty Insurance Property Insurance Insurance 189

Insurance Journal

FEBRUARY 5, 2025

Global commercial insurance rates fell 2% in the fourth quarter of 2024 following a 1% decline in Q3 2024 marking the second consecutive quarterly decrease following seven years of rising rates, according to the Global Insurance Market Index published …

Commercial Insurance 201

Commercial Insurance Commercial Insurance Insured 201