Insurance Journal

AUGUST 12, 2024

Insurance Carriers are reducing their appetite for risk and increasing premiums. This post is part of a series sponsored by TSIB. This means they are being much more selective in what they are willing to insure. If they are going …

Risk 242

Risk Underwriter Underwriting Insurance Carrier 242

Insurance Journal

JULY 19, 2024

reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 The Travelers Companies, Inc. The New York-based insurer posted …

Underwriter 260

Underwriter Underwriting Premium Insurer 260

Insurance Journal

JANUARY 17, 2025

The “gap is closing” between commercial lines and personal lines underwriting results as the insurance industry overall is expected to continue its run of premium growth and improved underwriting results over the next 2 years. According to a report from …

Underwriter 264

Underwriter Underwriting Insurance Industry Premium 264

Insurance Journal

MARCH 25, 2025

premium growth while maintaining underwriting discipline. The Lloyd’s executives said the market has continued to demonstrate its value to stakeholders by delivering 6.5% Lloyd’s saw a continuation of positive returns with profit before tax of 9.6 billion ($12.4 billion) during …

Premium 168

Premium Underwriter Underwriting 168

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 275

Commercial Auto Insurance Underwriter Underwriting 275

Insurance Journal

NOVEMBER 13, 2024

Despite targeted underwriting initiatives, including raising premiums to match the rising … After the U.S. 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.

Auto Insurance 246

Auto Insurance Commercial Underwriter Underwriting 246

Insurance Journal

MARCH 3, 2025

Insurance industry rating analysts from AM Best warn recent softer pricing for directors and officers coverage could begin to affect insurers’ underwriting results. AM Best noted renewal premium for monoline D&O liability continued to fall during the first three months …

Underwriter 244

Underwriter Underwriting Liability Premium 244

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 238

Commercial Auto Insurance Underwriter Underwriting 238

AMAXX

MARCH 24, 2025

In this final part of our series exploring the nine elements of independent premium audits, we turn our focus to specialized situations and nuanced adjustments auditors carefully evaluate. Auditors disallow estimates, making precise documentation vital to receiving the intended premium savings associated with this exception.

Workers Comp 59

Workers Comp Premium Workers Compensation Compensation 59

Insurance Journal

NOVEMBER 17, 2024

As insurers look to 2025, several trends are emerging that affect premium and deductible costs — leading to lengthy conversations between insurance agents and brokers and their customers. For worship facilities, some of the most prevalent trends include: • Weather-related …

Underwriter 130

Underwriter Underwriting Broker-Agent Deductible 130

Insurance Journal

MARCH 25, 2025

The overall industry’s underwriting results were profitable. The 2024 combined ratio losses and expenses divided by premium, … Armchair analysts prognosticating the impending collapse of property & casualty insurance companies were proven wrong by recently released 2024 financial performance results.

Casualty Insurance 162

Casualty Insurance Underwriter Underwriting Premium 162

Triple-I: Workers Compensation

FEBRUARY 14, 2025

By William Nibbelin, Senior Research Actuary, Triple-I The workers compensation insurance industry experienced its second-best underwriting result in the past 20 years in 2023, with a net combined ratio of 87, according to Triple-Is latest Issues Brief. A combined ratio under 100 indicates a profit. A ratio above 100 indicates a loss.

Workers Comp 40

Workers Comp Premium Workers Compensation Workers Compensation Insurance 40

Insurance Journal

MARCH 23, 2025

D&O Dampening “Despite recently favorable statutory underwriting results, the softer pricing of the past couple of years could ultimately dampen the financial performance of D&O insurers because the premium base to support future claims activity has diminished, even as risks …

Underwriter 130

Underwriter Underwriting Premium Claim 130

Triple-I: Homeowners Insurance

OCTOBER 10, 2024

property and casualty insurance industry experienced better-than-expected economic and underwriting results in the first half of 2024, according to the latest forecasting report by Triple-I and Milliman. Much of the overall underwriting gain was due to growth in personal lines net premiums written. represented a 2.3-points

Commercial 68

Commercial Underwriter Underwriting General Liability 68

AMAXX

SEPTEMBER 23, 2024

When it comes to calculating workers’ compensation premiums, two critical factors play a significant role: the frequency and severity of claims. Understanding how these two factors interact can help businesses reduce their premiums and improve workplace safety. Underwriters view very large losses as rare and unlikely to repeat.

Workers Compensation 91

Workers Compensation Premium Compensation Workers Comp 91

Insurance Journal

DECEMBER 1, 2024

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

Commercial 130

Commercial Auto Insurance Underwriter Underwriting 130

PSM Brokerage

FEBRUARY 27, 2025

The Birthday Rule is gaining traction across the country, allowing Medicare Supplement policyholders to switch plans without medical underwriting around their birthday each year. Reduced underwriting can lead to higher premiums , increased policy lapses, and fewer carriers remaining in the market. in 2024 vs. 13.0%

Underwriter 52

Underwriter Underwriting Policyholder Premium 52

Triple-I: Business Insurance

OCTOBER 25, 2024

The commercial auto insurance line has struggled to achieve underwriting profitability for years, even before the inflationary conditions that have been affecting property/casualty lines more recently. This trend has been accompanied by steady growth in net written premiums (NWP).

Underwriter 52

Underwriter Underwriting Commercial Auto Insurance 52

Final Expense Brokerage

JANUARY 29, 2025

However, this market comes with its own set of challenges, including price sensitivity, unique underwriting processes, and sometimes, a lack of awareness among consumers. Key products to consider include: Whole Life Insurance : A staple for final expense agents, it provides lifelong coverage at affordable premiums.

Insurance Agents 130

Insurance Agents Insurance Agent Agents Building 130

TGS

NOVEMBER 5, 2024

TGS Insurance » Blog Homeowners Insurance Underwriting Questions: What to Expect When Getting a Quote So, you’re ready to take the plunge into homeowners insurance. Either way, there’s a step that often surprises people when they go to get a quote—the underwriting process. And, trust me, it can feel a bit like playing 20 Questions.

Underwriter 52

Underwriter Underwriting Insurance Insurer 52

American Agents Alliance

APRIL 3, 2025

Rising expenses could perhaps cause higher insured values, leading to policy adjustments and higher premiums. Many industries are feeling the uncertainty of tariffs and changing trade policies, which can make underwriting more challenging and pricing less certain. Education is often the first step.

Agents 52

Agents Policyholder Premium Auto Insurance 52

Elmore

OCTOBER 19, 2024

Insurers are attempting to stem persistent losses on their underwriting The post Home insurance premiums to keep rising in ‘difficult year’ appeared first on Elmore Insurance Brokers.

Home Insurance 52

Home Insurance Premium Insurance Broker Underwriter 52

TGS

FEBRUARY 28, 2025

Insurance companies rely on these reports to assess risk when underwriting a new policy. The most common report is the Comprehensive Loss Underwriting Exchange (C.L.U.E.) If a property has multiple claims, it might lead to: Higher premiums Frequent past claims signal higher risk. Why Should Homebuyers and Homeowners Care?

Claim 52

Claim Home Insurance Damage Insurance Agency 52

Triple-I: Business Insurance

AUGUST 11, 2022

The property & casualty insurance industry’s combined ratio – an indicator of underwriting profitability – is forecast at 100.7 Combined ratio represents the difference between claims and expenses paid and premiums collected by insurers. We forecast 2022 P&C premium growth of 8.5 for 2022, up 1.2 percent,” Porfilio said.

Underwriter 40

Underwriter Underwriting Workers Compensation Premium 40

ProWriters

NOVEMBER 18, 2024

After several years of dramatic rate fluctuations, insurers, brokers, and businesses are bracing for what could be a defining year for D&O premiums. The D&O Insurance market experienced a favorable underwriting performance in 2023, with the sector seeing its best loss ratio since 2014. With class action settlements totaling $2.1

Premium 101

Premium Cyber Insurance Insurer 101

R&R Insurance

FEBRUARY 20, 2025

Workers compensation rates are state mandated in Wisconsin, meaning all insurance carriers must use the same rates resulting in premiums from one carrier to another are basically the same. While at first glance, this appears a boon to the bottom line for Wisconsin contractors as work comp premium makes up the lions share of insurance costs.

Workers Compensation 52

Workers Compensation Insurance Carrier Premium Compensation 52

Distinguished

MARCH 6, 2025

In Los Angeles, housing code violations present challenges that affect property safety, compliance, and insurance underwriting. Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Can you outline some of the most common housing violations in Los Angeles?

Building 59

Building Damage Insurance Broker Underwriter 59

Cowbell

AUGUST 20, 2024

In two years, he successfully implemented over 20 partnerships with major insurance brokers and significantly enhanced Arch’s digital presence while optimizing the underwriting process through automation, culminating in improved user interfaces and portals.

Cyber 105

Cyber Insurance Broker Underwriter Underwriting 105

Distinguished

MARCH 20, 2025

When our underwriting teams evaluate a new policy, they primarily look at the following three factors to determine pricing: Maintenance : Whether the property is well looked after and is free from any characteristics that would make it more risky or ineligible for coverage. We prioritize human insights over automation.

Building 52

Building Protection Damage Liability 52

Boston ERISA & Insurance Litigation

DECEMBER 5, 2024

I was thinking about this because of this article , coincidentally also today, in the Guardian which shows that homeowners premium increases in various parts of the United States align consistently with the extent of that particular part of the countrys increased risk of loss from climate related events.

Premium 40

Premium Risk Underwriter Underwriting 40

Triple-I: Homeowners Insurance

MAY 8, 2024

Claims-related litigation is down, the “ depopulation ” of the state’s insurer of last resort continues apace, and underwriting profitability – while still in negative territory – has improved significantly. One factor keeping upward pressure on rates is fraud and legal system abuse. With only 15 percent of U.S.

Premium 52

Premium Insurance Insurer Insured 52

Distinguished

MARCH 20, 2025

Even if some violations are eventually addressed, a history of non-compliance can still lead to higher premiums. Both resolved and unresolved violations can affect the terms, premiums, and overall coverage of these policies. She oversees the programs strategic planning, product management, and underwriting profitability.

Broker 52

Broker License Insurance Broker Risk 52

ProWriters

JANUARY 3, 2024

The trajectory of average D&O Insurance premiums has been a critical barometer for Cyber Insurance brokers keen on gauging the market’s pulse. This rise in D&O claims is expected to push premiums upward as insurers recalibrate risk assessments.

Premium 52

Premium Insurance Insurer Insured 52

Triple-I: Homeowners Insurance

JUNE 27, 2024

By Lewis Nibbelin, Guest Blogger for Triple-I Home and auto insurance premium rates have been a topic of considerable public discussion as rising replacement costs and other factors – from climate-related losses to fraud and legal system abuse – have driven rates up and, in some states, crimped availability and affordability of coverage.

Underwriter 52

Underwriter Underwriting Insurance Insurer 52

Distinguished

FEBRUARY 24, 2025

When determining the price of a policy, our underwriters will look at factors such as the restaurants size, location, type of services offered, and additional coverage needs. Location risks: Areas with higher crime rates or increased foot traffic face higher premiums.

Liability 52

Liability Liability Insurance Insurance Insurer 52

Zywave

NOVEMBER 13, 2024

Zywave’s proprietary data tools are designed to help you improve your underwriting efficiency, refine your rates and better educate policyholders on the risks they may face. That’s where Cyber OverVue comes in.

Cyber 97

Cyber Policyholder Insurance Insurer 97

AMAXX

JULY 30, 2024

So this is your premium adjustments, and these are discretionary adjustments that can be given by your underwriter based on how well they perceive you managing your risk, how well they perceive you managing your risk. You’re gonna have to some of these premium adjustments. It’s it’s not showing me that you do.

Workers Comp 64

Workers Comp Risk Workers Compensation Injury 64