Markets
Gen AI Is Shaking Up Underwriting, But Can It Replace Human Judgment?
Artificial intelligence technology has continued to evolve, and it's affecting many areas of insurance from claims to underwriting to customer service, according to panelists at the 2025 PLUS D&O ...
Upgrades Up, Downgrades Down: AM Best Reviews 2024 Rating Actions
AM Best announced 34 upward credit rating actions for U.S. commercial lines insurers in 2024, over 60 percent more than the number registered for 2023, the rating agency reported in its official ...
California Commissioner ‘Provisionally’ OKs State Farm’s Rate Request
California Insurance Commissioner Ricardo Lara provisionally approved State Farm General's request for a 22 percent interim rate hike, the California Department of Insurance announced on Friday. The ...
Diversification, Risk Modeling Top of Mind for Carriers as Cyber Market Softens
As cyber insurance rates have begun to stabilize, insurance carriers are seeking more diversification to fuel their underwriting and growth strategies, according to panelists at this year's PLUS ...
Contractors Insurance Alert: Construction Defect Lawsuits Rising
A new report identifying commercial litigation waves likely to pick up steam in 2025 highlights one particular theme that could further lengthen the tail of general liability claims for insurers ...
Updated: State Farm, Consumer Group Battle Ahead of Commish Decision
Ahead of a decision from California's insurance commissioner on a State Farm General request for emergency rate increases, company executives and representatives of a consumer group pled their ...
Global Instability Leads to 16 Year Low for Insurance Carrier M&A Deals
Two new reports highlight the stagnant mergers and acquisitions seen in the insurance industry in 2024. In fact, global insurance carrier M&As slumped to a 16-year low in 2024 amid a wave ...
Berkshire, Progressive Are 2024 Underwriting Profit Leaders; Industry Income Record
S&P Global Market Intelligence expects the U.S. property/casualty insurance industry to post more than $100 billion of net income for 2024—and that the biggest underwriting profits contributing ...