Insurance Journal

NOVEMBER 12, 2024

US Premium Finance, a division of Atlanta-based Ameris Bank, named Alan Malone director of sales and marketing. Malone has more than 30 years of experience in insurance premium finance. He was previously senior vice president and regional sales manager at …

Premium 245

Premium Insurer Insured Insurance 245

Insurance Journal

NOVEMBER 21, 2024

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

Premium 246

Premium Commercial Broker-Agent Commercial Property 246

Insurance Journal

NOVEMBER 3, 2024

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

Premium Policy Insurer Insured 246

Insurance Journal

DECEMBER 10, 2024

billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Top insurance companies suffered $10.6 billion of climate-attributed losses this year, just shy of the $11.3 Of the 28 insurers reviewed, more than …

Premium 246

Premium Commercial Insurer Insured 246

Insurance Journal

NOVEMBER 21, 2024

A Miami insurance agent has pleaded guilty to defrauding a Georgia credit union by obtaining loans for condominium associations’ premium financing then using the $6 million for personal gain. Heleonel Gonzalez, known as Leo, is set for sentencing in February, …

Insurance Agents 264

Insurance Agents Insurance Agent Premium Agents 264

Insurance Journal

NOVEMBER 4, 2024

North Carolina Insurance Commissioner Mike Causey is reminding property insurers to refrain from raising homeowners’ premiums just because an insured filed a claim or inquiry in order to qualify for flood insurance indemnity or federal assistance. In most cases, the …

Premium 264

Premium Underwriter Underwriting Property Insurance 264

Insurance Journal

SEPTEMBER 11, 2024

Treaty reinsurance written in the London company market grew by almost one-third in 2023, with the sector generating premiums of £10.889 billion (US$14.2 billion), up from £8.248 billion ($10.8 billion) in 2022, according to the International Underwriting Association (IUA). The …

Premium 264

Premium Underwriting Underwriter 264

Insurance Journal

AUGUST 20, 2024

Insurance Australia Group said on Wednesday it expects premiums to keep rising because of a huge jump in loss claims and third-party costs for home and automobile repairs, sending its shares more than 3% lower. IAG said the money it …

Premium 264

Premium Claim Insurer Insured 264

Insurance Journal

DECEMBER 15, 2024

Discover practical strategies to reduce your insurance premiums during an economic downturn. This post is part of a series sponsored by Trucordia. Learn how to save money without compromising on coverage. As the economic landscape fluctuates, so does the insurance …

Premium 240

Premium Insurer Insured Insurance 240

Insurance Journal

SEPTEMBER 1, 2024

Florida authorities in August arrested a well-known southwest Florida insurance agent, charging him with larceny and embezzlement of premiums. Reid McDaniel, 33, who was named the honorary mayor of North Fort Myers last year but who also was facing a …

Insurance Agents 243

Insurance Agents Insurance Agent Premium Agents 243

Property Insurance Coverage Law

AUGUST 20, 2024

But if it were, its average premium for regular homeowner’s insurance would have to … The post Florida Property Insurance Rates and Premiums Are Going Up Even More: All United States Property Insurance Premiums Are Rising appeared first on Property Insurance Coverage Law Blog.

Property Insurance 174

Property Insurance Premium Insurer Insured 174

Insurance Journal

OCTOBER 23, 2024

home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-perils …

Premium 321

Premium Home Insurance Insurance Industry Risk 321

Property Insurance Coverage Law

AUGUST 25, 2024

I was invited to a CEO Summit at Harvard this weekend, and the CEOs all had this question: “What is up with our insurance premiums? Insurance premiums are up for everyone. Business … The post What Is Up With Insurance Premiums Other Than They Are Going Up? Can we cut the costs?”

Premium 180

Premium Property Insurance Insurer Insured 180

Insurance Journal

DECEMBER 1, 2024

The average cost of workers’ compensation insurance in Washington will go up about 3.8% in 2025, the Washington State Department of Labor & Industries announced. Employers and workers together will pay on average roughly $1 per week more for each …

Workers Comp 263

Workers Comp Premium Compensation Workers Compensation 263

Insurance Journal

FEBRUARY 20, 2025

2024 ended as steady as ever with “no real change in current market conditions” as respondents of a recent survey reported most lines of business in the last quarter had average increases in premiums about the same or …

Premium 130

Premium Commercial Cyber 130

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 Underwriting Underwriter 277

Insurance Journal

SEPTEMBER 12, 2024

The Oregon Department of Consumer and Business Services the decline in workers’ comp rate, which marks 12 years of average decreases in the pure premium rate. Oregon employers will pay on average less for workers’ compensation coverage in 2025. Employers …

Premium 147

Premium Workers Comp Compensation Workers Compensation 147

Insurance Journal

JULY 17, 2024

Then came the letter from her condo association announcing a 300% increase in insurance premiums, … Jillian Anderson was planning to make fighting crime in Waikiki the top issue in her campaign for a seat in the Hawaii House of Representatives.

Premium 147

Premium Crime Insurer Insured 147

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

NOVEMBER 25, 2024

Along with the rising cost of living in many facets of families’ daily lives, property insurance availability and affordability continue to be a challenge across the U.S. Inflation has been persistently increasing repair, labor, and medical costs. And legal system …

Premium 264

Premium Property Insurance Insurer Insured 264

Insurance Journal

NOVEMBER 17, 2024

home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-perils …

Premium 240

Premium Home Insurance Insurance Industry Risk 240

Insurance Journal

SEPTEMBER 25, 2024

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country. To …

Home Insurance 331

Home Insurance Premium Insurer Insured 331

Insurance Journal

JANUARY 6, 2025

A former insurance agent plead guilty to stealing premium from a premium finance company. Formerly licensed insurance agent Tonja Van Roy, 59, who currently resides in Las Vegas, but operated an insurance agency based in Northridge, California, pleaded guilty today …

Insurance Agents 264

Insurance Agents Insurance Agent Agents Premium 264

Property Insurance Coverage Law

DECEMBER 28, 2024

Americas housing market is teetering on the edge of a crisisa situation fueled by climate change, soaring insurance premiums, underinsurance, and systemic failures in addressing these growing risks.

Premium 160

Premium Property Insurance Insurer Insured 160

Insurance Journal

JULY 12, 2024

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 per $100 of payroll— representing a 2.1% percent decrease from last year. The advisory rate …

Workers Comp 290

Workers Comp Premium Compensation Insurer 290

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

NOVEMBER 22, 2024

Global non-life premiums are expected to hit a decade-high growth level of 4.3% “Premium rates are now moderating, … in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma.

Life Insurance 278

Life Insurance Premium Claim Risk 278

Insurance Journal

JANUARY 30, 2025

million in annual property/casualty (P/C) insurance premium increases in the state through its rate review processes. The PID said it rejected premium increases sought by insurers … The Pennsylvania Insurance Department (PID) reported that in 2024 it refused to approve $180.3

Premium 208

Premium Insurer Insured Insurance 208

Insurance Journal

JULY 12, 2024

Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%. According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on April 14, 2023. The initial rate request …

Premium 321

Premium Insurer Insured Insurance 321

Insurance Journal

OCTOBER 10, 2024

A former insurance broker has pleaded guilty to a number of charges including insurance fraud for collecting premiums without placing coverage. Karen Marie Dondanville, 56, a former broker from Mission Viejo, pleaded guilty to 90 counts including grand theft auto, …

Theft 264

Theft Agents Premium Insurance Broker 264

Insurance Journal

SEPTEMBER 12, 2024

excess and surplus insurers in 2023 saw double-digit growth in direct written premiums. E&S direct written premiums (DWP) grew 15% last year to increase its share of the total property/casualty market to 9%, according … For the sixth straight year, U.S.

Premium 264

Premium Insurer Insured Insurance 264

Insurance Journal

AUGUST 9, 2024

Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six month low. The company’s gross written premiums …

Premium 264

Premium Insurer Insured Insurance 264

Insurance Journal

JANUARY 20, 2025

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

Premium Insurer Insured Insurance 246

Insurance Journal

AUGUST 28, 2024

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

Premium Insurer Insured Insurance 306

Insurance Journal

OCTOBER 10, 2024

With soaring premiums and increasing exclusions, the need for an accurate assessment of these risks is more important than ever. The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. The …

Premium 299

Premium Insurance Industry Risk Insurer 299

Insurance Journal

SEPTEMBER 9, 2024

The unique, evolving and often volatile nature of cyber risks has always lurked beneath the surface as the cyber insurance premium climbed in recent years. The recent CrowdStrike software failure underscored the dormant threats posed by aggregation risk, and the …

Risk 298

Risk Cyber Premium Insurer 298

Insurance Journal

JANUARY 24, 2025

According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last yearand American Family Insurance topped a list of 10 insurers ranked by average rate change. The analysis published by S&P Global …

Premium 263

Premium Insurer Insured Insurance 263