Industry News

Farmers Estimates $600M in Losses from LA Wildfires

Farmers said on Wednesday that it expects losses from the Los Angeles wildfires last month to reach an estimated $600 million. Insurance companies have so far paid out more than $6.9 billion for ...

Auto and Property Insurance Shopping Saw 20% Spikes in Q4 2024, Report Shows

Auto and property insurance shopping experienced 20 percent year-over-year increases in the fourth quarter of 2024, a new report shows.

Uber Targets Personal Injury Lawyers in Multimillion Dollar Ad Campaign

Uber Technologies Inc. is pouring millions of dollars into a national ad campaign to push for reforms in insurance policies that it says have been exploited by personal injury lawyers and contribute ...

Bill Aims to Drive Down NYC Taxi Drivers’ Insurance Costs. But Will It?

The New York City Council's transportation committee heard testimony last Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from ...

Data Insight: More Insurers Expect to Boost Top Lines Than Headcount

Continuing a trend that's persisted for several quarters, the latest Insurance Labor Market Study from Jacobson Group and Aon finds a big gap between the percentage of carriers expecting to boost top ...

Georgia Governor Wins Support for Tort Reform From 3 Skeptical Senators

Three Republican holdouts in the Georgia Senate got on board with Gov. Brian Kemp's top-priority legislation to limit lawsuits, showing the state's Republican leader remains at the height of his ...

Andover Companies Among Investors in Reinsurance Startup Mereo

The Andover Companies, a long-standing mutual insurance group in the Northeast, is among the investors in Mereo Insurance, a Bermuda-based (re)insurance startup chaired by former AIG Executive ...

Not So Fast: State Farm Didn’t Prove Its Case for Rate Hike, CDI Says

California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22 percent rate request from State Farm, instead calling a meeting with the carrier to get some answers about the ...