article thumbnail

European Insurers Enjoy Big Profits After Premium Hikes

Insurance Journal

Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …

Premium 279
article thumbnail

California State Fund Declaring 15% Dividend for 2024 Policy Year

Insurance Journal

State Compensation Insurance Fund in California announced that it will declare a $149 million dividend to qualifying policyholders with policies that took effect between Jan. This dividend equals roughly 15% of the estimated annual premium

Policy 277
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Agency E&O Buyers Report Higher Premiums

Insurance Journal

By Andrea Wells Fewer agencies reported increases in premium on their agency errors and omissions renewal policies from 2023 to 2024, according to Insurance Journalis annual Agency E&O survey, which polls buyers of the coverage on pricing and trends on …

Premium 246
article thumbnail

Changes to Washington Homeowners and Auto Premium Rule to Be Considered

Insurance Journal

Washington Insurance Commissioner Mike Kreidler has proposed modifying the state’s recently adopted premium change transparency rule. The proposal is specific to Phase 2 of the rule (the automatic inclusion of reasons for premium increases in policy renewals). It moves the …

Premium 246
article thumbnail

Americans Shop Around for Insurance More Than Ever as Costs Soar

Insurance Journal

Americans are seeking to change their insurance coverage more frequently than in the past, after a surge in premiums that’s squeezed household budgets, a new industry report shows. For car insurance, so-called policy shopping rates — essentially the share of …

Premium 306
article thumbnail

When EVs Take Off: AM Best Reviews Impact on China Motor Insurance

Insurance Journal

Premiums for policies covering new energy vehicles in China have soared to $13.8 billiona six-fold jump from the level recorded five years earlier, AM Best said in a special report. According to the report, “China’s New Energy Vehicle Boom Transforms …

Premium 246
article thumbnail

North Carolina Settles on 15% Increase in HO Rates

Insurance Journal

AP) Base rates for North Carolina homeowners’ insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the industry. The agreement announced Friday by …

Premium 246