AM Best: Trouble Around the Bend for Commercial Auto Insurers After Good 2021?
For the first time in many years the commercial auto insurance segment enjoyed a combined ratio below 100 in 2021, but increased claim frequency and severity in 2022 ...
Content from Chad Hemenway
U.S. Homeowners Line ‘Stable,’ but Weather Events Present Uncertainty: AM Best
A day after Hurricane Ian hit Florida as a Category 4 storm Sept. 28, AM Best released its scheduled market segment report of the U.S. homeowners insurance market, calling it stable due to overall ...
Ian Likely To Become One of the Costliest U.S. Hurricanes
With maximum sustained winds of 150 mph at just after 3 p.m. on Sept. 28, Hurricane Ian was just shy of Category 5 status when it made landfall in Cayo Costa, Fla. Ian, in line to be one of the ...
Gallagher, Alliant Agree to Settle Latest Dispute Over Alleged Poaching
Brokers Arthur J. Gallagher and Alliant Insurance Services jointly filed to tell a judge they have agreed to work out a settlement to end a short but contentious dispute over employee-poaching ...
Rising Auto Rates Affecting ‘Bundle’ Strategy: J.D. Power
Bundling home and auto insurance may have hit a roadblock as consumers have started to break up policies largely due to increases in auto insurance premiums, according to J.D. Power. Overall ...
Phishing Triggered Majority of Cyber Claims in 2022 First Half: Coalition
Claims are down among Coalition policyholders in the first half of 2022, but small businesses became bigger targets and an organization's employees remain the easiest was for cyber criminals to ...
Outlook Negative: AM Best Revises U.S. Personal Lines as Auto Results Weaken
AM Best said it held the belief that the U.S. personal auto line would right the ship following weakening performance in 2021, but headwinds such as inflation remain too strong, and the rating agency ...
Man-Made Crises Threaten P/C Markets, Says Joint Report From Trade Associations
Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew—a storm that upended and transformed insurance and the manner in which communities prepare for natural ...
State Farm to Pay $100 Million to Federal Government for Hurricane Katrina Claims
State Farm Fire and Casualty Co. and two former claims adjuster sisters, who more than 16 years ago filed a lawsuit claiming the insurer committed fraud against the government's National Flood ...