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

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 264

Underwriter Underwriting Premium Insurance 264

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 243

Commercial Auto Insurance Underwriter Underwriting 243

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 245

Auto Insurance Commercial Underwriter Underwriting 245

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

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

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

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).

Commercial 52

Commercial Underwriter Underwriting Auto Insurance 52

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 59

Workers Compensation Premium Compensation Workers Comp 59

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 49

Commercial Underwriter Underwriting General Liability 49

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 Home Insurance Insurance 52

TGS

NOVEMBER 12, 2024

TGS Insurance » Blog Unlocking a Smart Home Insurance Discount: How Your Gadgets Can Lower Your Premiums If you’ve recently dipped a toe into the world of smart home technology, you’re likely familiar with the benefits of convenience. Yes, you read that right. And let’s be honest—who doesn’t love a good discount? In short, yes!

Home Insurance 52

Home Insurance Premium Insurance Insurer 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 Cyber Insurance Insurer 52

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 Casualty Insurance Insurance Insurer 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 52

Premium Cyber Insurance Broker Insurance 52

Protect Commercial Insurance

OCTOBER 4, 2024

How Interest Rates Influence Insurance Costs Insurance premiums are sometimes indirectly influenced by interest rates. Here’s how: insurers rely on investment income to keep premiums competitive. When interest rates rise, the returns on these investments can increase, potentially affecting premium rates.

Property Insurance 52

Property Insurance Out-Of-Pocket Premium Insurance 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

Scott Insurance

FEBRUARY 27, 2024

The Hardening Property Insurance Market Since 2017, the property insurance market has been hardening, resulting in lower available limits, higher deductibles and increased premiums. Uneven investment profits causing insurers to pursue underwriting profit, which translates to stricter underwriting criteria and declined submissions.

Deductible 52

Deductible Property Insurance Underwriter Underwriting 52

Final Expense Brokerage

NOVEMBER 30, 2024

Starting earlier can give you peace of mind and lower premiums, so you’re covered regardless of what life brings.” How to Address It: Break down affordable options: Explain that final expense insurance often comes with more flexible, affordable premiums than clients expect.

Agents 130

Agents Out-Of-Pocket Life Insurance Insurance 130

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 52

Workers Comp Risk Workers Compensation Injury 52

TGS

NOVEMBER 20, 2024

Let’s explore how and why your credit score affects your home insurance , what insurers are really looking at, and what you can do to keep your premiums manageable. However, in most states, your credit score can significantly influence your premiums. Now, you might be wondering just how much your credit score can affect your premium.

Home Insurance 52

Home Insurance Premium Insurance Insurer 52

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

Neilson Marketing Services

OCTOBER 23, 2024

You can refine your outreach efforts by focusing on agencies with the right premium volumes, specialties, and relationships with specific carriers. The data includes ownership information (independent or private equity), premium volumes, revenue figures, employee counts, carrier relationships, and targeted industries.

Broker-Agent 105

Broker-Agent Premium Agents Insurance Agency 105

Cowbell

AUGUST 26, 2024

Caroline Thompson, Chief Underwriting Officer added, “Cowbell’s underwriting process integrates data points from security tools and application questions. This might involve adjusting premiums or coverage terms based on the effectiveness of an organization’s use of the security features.

Cyber 59

Cyber License Insurance Insurer 59

Property Insurance Centre

JANUARY 4, 2024

Inflation drives up property valuations , construction costs , and insurance premiums. This has resulted in higher premiums and limited coverage in catastrophe-exposed areas. Insurers are investing in advanced technology and data analytics to improve risk assessment and underwriting processes.

Property Insurance 52

Property Insurance Commercial Property Liability Insurance 52

Majesco

MAY 23, 2024

Can insurers fill the bucket with the right premiums as fast as claims pour out potential profits? It’s about rethinking underwriting and claims as well as rethinking risk resilience. Increasing premiums is a reaction to today’s market dynamics, but not a long-term solution for either insurers or their customers.

Risk 40

Risk Underwriter Underwriting Insurance 40

InsuredMine

MAY 20, 2024

And get this some even let you pay as you go instead of heavy annual premiums. Limitations and Challenges Faced Through Traditional Insurance Model Traditional insurance operates on a principle of risk pooling, where many pay premiums to cover the potential claims of a few. Every person, every business, every situation is different.

Insurance 52

Insurance Insurer Insured Premium 52

Majesco

APRIL 25, 2024

Policy management flows smoothly from shortstop (underwriting) to second base (billing) to first base (customer service). It’s a double play—claims processed swiftly, premiums collected seamlessly, and customers satisfied. Now, imagine the infield—shortstop, second baseman, and first baseman—all working in harmony.

Underwriter 40

Underwriter Underwriting Premium Claim 40

Property Insurance Centre

NOVEMBER 11, 2024

” or can’t get the insurance you deserve for that matter – insurance with reasonable premiums and without unnecessary restrictions. In other cases, it will be due to underwriting appetite of insurers and their ever changing attitudes to risk.

Insurance 52

Insurance Insurer Insured Premium 52

Word & Brown

SEPTEMBER 10, 2024

Our value-added extras – like free COBRA admin and a Premium Only Plan for qualified groups – will help you nurture your client relationships for a long-term connection. Underwriting: Our experienced Underwriting team works directly with carriers to get a faster approval of your cases.

Broker 52

Broker Underwriter Underwriting Premium 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 52

Cyber Policyholder Insurance Insurer 52

Scott Insurance

SEPTEMBER 5, 2023

With limited access to insurance, affordable housing communities have no ability to negotiate insurance premiums and are forced to pay significantly higher premiums with high deductibles. Some affordable housing community owners and operators reported premium increases of 25-75% due to the presence of pull cords. Robert, Ph.D.,

Premium 52

Premium Liability Insurance Insurer 52

Healthinsurance.org

JANUARY 23, 2024

In fact, medical underwriting hasn’t been used for individual/family health insurance policies since 2013. So pre-existing conditions will not affect the premium or the person’s eligibility for coverage. It’s important to note that Marketplace premium subsidy eligibility is based on income, and assets are not taken into consideration.

Premium 52

Premium Policy Insurance Broker Underwriter 52

LexisNexis

NOVEMBER 4, 2024

Read now » Related Content Representations and Warranties Insurance: Fundamentals Get an overview of R&W insurance, including underwriting and the various aspects of claims, coverage, and dispute resolution. This practice note showcases key considerations and best practices to ensure successful claims management.

Claim 40

Claim Insurance Policy Policy Insurance 40

Triple-I: Homeowners Insurance

DECEMBER 3, 2024

Louisiana recently enacted a law enforcing some oversight over TPLF, Temple noted, as well as repealed a unique “three-year rule” that impeded actuarially-sound underwriting. Louisianans Need to Know Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time How Georgia Might Learn From Florida Reforms U.S.

52

52

Distinguished

SEPTEMBER 17, 2024

If we are comfortable with our exposure, we may consider increasing the AOP deductible and the theft deductible , depending on the underwriting analysis. Are there any emerging trends in the construction industry that are impacting builder’s risk underwriting? We bound the policy for a six-month term, and the premium was $1,300.

Risk 52

Risk Broker-Agent Deductible Insurance 52