Content from Chad Hemenway
Record Underwriting Income Highlights W.R. Berkley Q4 Results
Fourth-quarter net income at W.R. Berkley Corp. increased 4 percent compared to the same period the prior year to about $397.3 million on record pretax underwriting income of nearly $316 million, an ...
Progressive Q4 Net Income Up 141% as Combined Ratio Exceeds Goal for 2023
Progressive Corp. said fourth-quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year ago during the same period.
Brinson Caleb "BC" Silver, former chief marketing officer for InsurTech Root, has pleaded guilty to stealing more than $10 million from his former employer and violating ...
Double-Digit Rate Hikes for 10 Largest Auto Insurers in 2023
According to S&P Global Market Intelligence's RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its ...
Added Protection or Opportunity Lost? New Independent Contractor Rule Issued
The U.S. Department of Labor on Jan. 9 issued a final rule, more than a year in the making, on the definition of an independent contractor. First proposed in October 2022, the rule provides guidance ...
Another Title Insurer Hacked: Fidelity National Says 1.3M Affected
Title insurer Fidelity National Financial (FNF) said about 1.3 million customers have been impacted by a cyber attack it suffered last November. According to a filing with the U.S. Securities and ...
Allianz D&O Outlook: ESG Claims ‘Here to Stay’ and AI Rapping at the Door
While everyone may be talking about potential risks associated with generative artificial intelligence, a new directors & officers report from Allianz highlights a range of current concerns ...
U.S. Personal Lines Outlook Continues to Be Negative: AM Best
The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September ...
Former Root Marketing Exec Pleads Guilty to Taking Over $10 Million From the Insurer
Q3 2023 Signals Six Years of Premium Increases for Commercial Lines: CIAB
Overall commercial property/casualty premiums increased slightly more than 8 percent on average in the third quarter, marking six full years of steady increases. According to The Council of Insurance ...