Insurance Journal

AUGUST 7, 2024

All major commercial lines premium renewal rates were higher in July than in June, except commercial property which decreased, according to the latest monthly Ivans Index. Year over year, commercial auto, business owners, general liability, commercial property and umbrella experienced …

Commercial 260

Commercial Commercial Property General Liability Liability 260

Insurance Journal

JANUARY 7, 2025

As for commercial P/C insurance, … 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 reason for the upgrade.

Commercial 262

Commercial Casualty Insurance Insurance Industry Insurance 262

Insurance Journal

SEPTEMBER 4, 2024

Trust impacts customer satisfaction, loyalty and brand advocacy more than other factors when small businesses choose a commercial insurance provider. Small Commercial Insurance Study found that among small businesses with the most trust in their insurers, … Power’s 2024 U.S.

Commercial 264

Commercial Business Insurance Commercial Insurance Insurance 264

Insurance Journal

DECEMBER 5, 2024

Most major commercial lines premium renewal rates were higher month over month, except general liability, which remained consistent with October and Commercial Property and Workers’ Compensation which saw a decrease, according to the November 2024’s results of the Ivans Index.

Commercial 264

Commercial General Liability Commercial Property Liability 264

Insurance Journal

OCTOBER 8, 2024

who now works for billionaire climate investor Tom Steyer, says commercial real estate deals will increasingly need to price in rising insurance costs, as hurricane seasons get more destructive … Joseph Sumberg, a former managing director at Goldman Sachs Group Inc.

Commercial 278

Commercial Risk Insurance Insurer 278

Insurance Journal

JULY 11, 2024

Stacks Insurance Brokerage in Lighthouse Point, Florida, has named Kenny Bordman partner and president of commercial insurance. Bordman has more than a decade in commercial insurance, preceded by years in the U.S. Army and law enforcement, Stacks said in a …

Commercial 260

Commercial Commercial Insurance Insurance Insurer 260

Insurance Journal

JULY 12, 2024

In a change in regulatory practice, Connecticut has decided that all commercial lines claims made insurance forms and rates are now subject to full regulatory review. Citing compliance issues, Insurance Commissioner Andrew Mais issued a new bulletin (PC-63-24) on July …

Commercial 278

Commercial Claim Insurance Insurer 278

Insurance Journal

OCTOBER 3, 2024

the London-based specialist insurance broker, has acquired MIS Motorsport’s commercial business in the UK and Ireland. Kingfisher Insurance Services Ltd., Financial details of the transaction were not disclosed. As part of the acquisition, a new entity will be created called …

Broker 278

Broker Commercial Insurance Broker Insurance 278

Insurance Journal

AUGUST 20, 2024

Commercial property/casualty premium increases in the second quarter 2024 were flat or down from the previous quarter for all lines of business—evidence of a softening insurance market, according to The Council of Insurance Agents & Brokers (CIAB) quarterly survey. Premiums …

Commercial 279

Commercial Commercial Property Broker-Agent Premium 279

Insurance Journal

DECEMBER 2, 2024

commercial lines insurance sector for 2025, due partly to the segment’s persistently strong underwriting performance and improved investment returns, which have bolstered operating profitability. AM Best is maintaining its stable market segment outlook on the U.S. Reserve adequacy in the …

Commercial 288

Commercial Commercial Insurance Underwriter Underwriting 288

Insurance Journal

DECEMBER 6, 2024

announced three key appointments for its new Commercial Division, which comprises Syndicate 1274 and Bermuda-based Antares Re. Antares Global Management Ltd. Antares announced in November that it was restructuring its underwriting operations by spitting its Bermuda and UK re/insurance businesses …

Commercial 264

Commercial Underwriter Underwriting Insurance 264

Insurance Journal

DECEMBER 11, 2024

Broker WTW said commercial lines insurance rates increased overall by an average of 6.1% Quarterly price increases have been around 6% since the end of the pandemic, WTW reported in its Commercial Lines Insurance Pricing … during the third quarter 2024.

Commercial 245

Commercial Broker Insurance Insurer 245

Insurance Journal

JULY 21, 2024

Risk Strategies named Troy Bagwell commercial lines leader for the West region. Bagwell, who is based in Los Angeles, is responsible for building and executing the regional strategy for the commercial property/casualty business segment. Bagwell joins Risk Strategies from Panorama …

Commercial 264

Commercial Risk Commercial Property Building 264

Insurance Journal

OCTOBER 21, 2024

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

License 264

License Commercial Commercial Insurance Commercial Property 264

Insurance Journal

OCTOBER 24, 2024

Global commercial insurance rates fell 1% in the third quarter of 2024 from the previous quarter, which marked the first time the index has recorded a quarterly decline since the third quarter of 2017, according to the Global Insurance Market …

Commercial Insurance 290

Commercial Insurance Commercial Insurance Insurer 290

Insurance Journal

OCTOBER 27, 2024

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 steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 278

Commercial Auto Insurance Underwriter Underwriting 278

Insurance Journal

OCTOBER 10, 2024

WTW characterized commercial insurance rates as balances and stable but, as Hurricane Milton approached, the broker warned of upcoming disruption. “The current state of affairs might only be one major hurricane away from being upended, and with Milton knocking on …

Commercial 263

Commercial Commercial Insurance Broker Insurance 263

Insurance Journal

NOVEMBER 5, 2024

All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include: Commercial Auto: 9.62%, down slightly from …

Commercial 246

Commercial Premium 246

Insurance Journal

DECEMBER 2, 2024

Rockford Mutual Insurance Company (RMIC) announced a strategic expansion into the state of Michigan for Commercial Lines products in 2025. This decision is part of the company’s ongoing efforts to diversify its portfolio and spread risk across different markets in …

Commercial 243

Commercial Insurance Companies Risk Insurance 243

Insurance Journal

DECEMBER 11, 2024

Inszone Insurance Services announced the acquisition Commercial Insurance of Texas Agency Services, a specialized agency based in Texas. This strategic acquisition strengthens Inszone’s presence in Texas and significantly expands its expertise in the automotive, heavy truck aftermarket and equipment dealers’ …

Commercial Insurance 234

Commercial Insurance Commercial Insurance Insurer 234

Insurance Journal

NOVEMBER 21, 2024

According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes rose … Respondents of a recent survey reported lower premium increases for all lines of business except umbrella during the third quarter.

Premium 246

Premium Commercial Broker-Agent Commercial Property 246

Insurance Journal

DECEMBER 19, 2024

This edition of International People Moves details appointments at Generali Global Corporate & Commercial (GC&C) and the broker Miller. Generali Global Corporate & Commercial Taps Allianz’s Moro as Head of Cyber Insurance … A summary of these new hires follows here.

Commercial 236

Commercial Cyber Broker Insurance 236

Insurance Journal

DECEMBER 9, 2024

The US financial system continued to face vulnerabilities from commercial real estate risk and digital assets in 2024, Treasury Secretary Janet Yellen said on Friday, even as cooling inflation and low unemployment bolstered the broader economy. She signaled top US …

Commercial 240

Commercial Risk 240

Insurance Journal

JULY 24, 2024

Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time in nearly seven years – since the …

Commercial Insurance 264

Commercial Insurance Commercial Insurance Insurer 264

Insurance Journal

JULY 17, 2024

Intact Hires Janssens as SVP of West Coast Commercial Surety Intact Insurance Specialty Solutions, the brand for Intact Financial Corporation’s U.S. insurance company subsidiaries, headquartered in Plymouth, Minnesota, hired Erik Janssens as senior vice president of West Coast Commercial Surety.

Commercial 261

Commercial Insurance Companies Insurance Insurer 261

Insurance Journal

NOVEMBER 13, 2024

commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. After the U.S. Despite targeted underwriting initiatives, including raising premiums to match the rising …

Auto Insurance 246

Auto Insurance Commercial Underwriter Underwriting 246

Insurance Journal

NOVEMBER 17, 2024

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 steady growth in net written premiums (NWP), according to the Insurance Information Institute (Triple-I), an …

Commercial 245

Commercial Auto Insurance Underwriter Underwriting 245

Insurance Journal

AUGUST 18, 2024

Global commercial insurance rates remained flat during the second quarter of 2024 (down from a 1% increase in Q1 2024), according to Marsh’s Global Insurance Market Index. The findings mark the first time since the third quarter of 2017 that …

Commercial Insurance 246

Commercial Insurance Commercial Insurance Insurer 246

Insurance Journal

AUGUST 6, 2024

August 6, 2024 —The Risk & Insurance Education Alliance is proud to announce the launch of its first Certified Insurance Counselor (CIC) self-paced course titled “CIC Commercial Multiline.” Austin, TX., ” Crafted to meet the evolving educational needs of today’s insurance …

Commercial 237

Commercial Risk Insurance Insurer 237

Insurance Journal

DECEMBER 5, 2024

GEICO announced the addition 500 new jobs in North Texas in an expansion of its commercial insurance business. Of these positions, 300 will support GEICO’s commercial operations at its Richardson office, which has been designated as a main hub to …

Commercial Insurance 189

Commercial Insurance Commercial Insurance Insurer 189

Insurance Journal

NOVEMBER 7, 2024

Marsh Names Fraser as Int’l Corporate & Commercial Leader Marsh, the insurance broker, risk adviser and Marsh … This edition of International People Moves details appointments at the brokers Marsh and Clear Group. A summary of these new hires follows here.

Commercial 246

Commercial Insurance Broker Broker Risk 246

Insurance Journal

AUGUST 21, 2024

Alliant Insurance Services, headquartered in Irvine, California, named Alliant Specialty Senior Vice President Orlando Aguirre as the leader of its newly launched Alliant Commercial Surety. Based in Houston, Aguirre joined Alliant as senior vice president in 2021 and has experience …

Commercial 202

Commercial Insurance Insurer Insured 202

Insurance Journal

OCTOBER 20, 2024

Overall agent satisfaction with insurers of both personal lines and commercial lines has held strong despite a challenging underwriting environment, says a new J.D. Power study, with commercial lines satisfaction reaching an all-time high. According to the J.D. Power 2024 …

Commercial 162

Commercial Commercial Insurance Agents Underwriter 162

Insurance Journal

OCTOBER 28, 2024

Executive Summary: During the period 2013 through 2018, the U.S. did not become less litigious nor did Atlantic sea surface temperatures get less warm. Yet rates for U.S. excess liability and Atlantic hurricane both reduced, observe the co-founders of UWX.

Commercial 289

Commercial Underwriter Underwriting Liability 289

Insurance Journal

NOVEMBER 11, 2024

LP Insurance Services LLC named Travis Reed to its commercial lines team in northern Nevada. Reed has more than 10 years of industry experience, most recently as a sales executive with Alpine Insurance Associates. He previously worked as vice president …

Commercial 185

Commercial Insurance Insurer Insured 185

Insurance Journal

JULY 16, 2024

Two recent reports reflect trends in Florida’s property insurance market, including the continued growth of surplus lines’ business and an uptick last year in litigation costs for carriers. The Florida Surplus Lines Service Office reported this week that the admitted …

Commercial 290

Commercial Property Insurance Insurance Insurer 290

Insurance Journal

JANUARY 7, 2025

According to the MarketScout Market Barometer, the composite rate for U.S. personal lines increased about 5.8% in 2024 the highest yearly jump in a dozen years. For the last quarter of 2024, the composite rate went up 4%, said …

Commercial 246

Commercial 246