Industry News
Report: Advanced Tech Leads Carrier Innovation in 2024
Leveraging data for increased underwriting accuracy, customized policies and streamlining business operations are some of the top trends for property/casualty insurers in 2024, according to a report ...
New York Proposes Guidance Governing Insurers’ Use of AI
New York State is proposing guidance for insurance carriers to prevent unfair discrimination in their use of artificial intelligence and external data sources in ...
Executives on the Move at Guy Carpenter, LSM, Arch and Amwins
Guy Carpenter announced the appointment of Keith Wolfe to the newly created role of chief commercial officer, North America, effective immediately.
A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates "are expected to increase, but not at the same pace as seen in ...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, but improved from 2023, a report by Swiss Re ...
Workplace Diversity Opponents Challenge Policies Using 1866 Civil Rights Law
Opponents of workplace diversity programs are increasingly banking on a section of the Civil Rights Act of 1866 to challenge equity policies as well as funding to minority-owned businesses. Section ...
Underwriters Predict Continued Growth of Cyber Risks in 2024
Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer's annual survey of cyber insurance carriers found ...
Federal Reinsurance for Cats: No Thanks, APCIA Says
Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers' issues with growing private reinsurance costs. But a trade group for carriers ...
Survey: Carrier Connectivity Top of Mind for Agents
Agents continue to favor carriers and MGAs that offer automation, ranking ease of doing business and time savings at the top of the list of value they get from connectivity, according to a newly ...