U.S. Home Insurers Post Net Combined Ratio Over 110: S&P Global
The U.S. homeowners insurance segment posted its worst underwriting results in over a decade in 2023, according to an analysis by S&P Global Market ...
Industry News
Medical Professional Services Costs Increased Faster in States With No Fee Schedule
A recently released report comparing prices paid for medical professional services across 36 states from 2008 to 2023 found that states with no fee schedules for professional services had higher ...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7 percent on average in the first quarter of 2024. According to The Council of Insurance Agents and ...
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way ...
California Insurance Head Green Lights State Farm Reduction in Wildfire Discounts
State Farm has received approval to reduce the discounts it offers homeowners for wildfire mitigation in California. In addition, the insurer does not have to detail the wildfire risk factors that ...
Former Executive Alleges Gender Bias, Retaliatory Firing by NEXT Insurance
A former chief corporate officer for NEXT Insurance is accusing the company and its chief executive officer of gender and disability discrimination in the workplace and of firing her in retaliation ...
Tech Bytes: New Partnerships at INSTANDA, ZestyAI, Zojacks
INSTANDA, a global provider of no-code insurance platform technology, announced an integration with UnderwriteMe, a SaaS underwriting platform provider for the life insurance industry. The ...
Contractor Fraud Awareness Week Begins on May 20, Billions at Stake
There were 28 separate disaster events last year, totaling more than $93 billion in catastrophe losses. Upwards of 10 percent or $9.3 billion is lost to post-disaster fraud, according to the National ...
IRC: Home Insurance Spend Tops Household Income Growth
According to the Insurance Research Council (IRC), the average homeowners insurance expenditure has become less affordable for U.S. consumers over time. Looking at the the years 2001 to 2021—the ...