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New Map Shows the Rise and Fall of California’s Coast
In a new California case study, NASA-led researchers highlight how modest vertical land motion can significantly impact local sea levels in the future. Amounting to just fractions of inches per year ...
State Farm Stronger as Underwriting Losses Shrink—But Not in California
After reporting a $13 billion underwriting loss in 2022 and $14 billion in 2023, State Farm recorded another underwriting loss last year—but the total for 2024 was less than half of those prior ...
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 ...
Performance Review: Why Insurers Struggle to Underwrite, Price and Reserve for Commercial Auto Risks
It has been 11 years since commercial auto loss ratios have outperformed the greater property/casualty industry.
Hawaii Islands Sinking Faster in Some Areas, Increasing Flood Risk
Parts of Hawaii are sinking faster than others, according to a recent study led by researchers at the University of Hawaii at Mānoa, highlighting the flood risk to infrastructure, businesses and ...
‘Bleak’ Data: Insurance Co. Entry Level Hiring Expectations Hit Low Point
Insurance carriers expecting to add staff in 2025 are largely looking for experienced professionals rather than filling entry level roles, according to the latest Insurance Labor Market Study from ...
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 ...
An Insurance Journalist’s Perspective on Southern California’s Wildfires
PART ONE OF A TWO-PART SERIESIt was pitch black in the house and the power was off. The Santa Ana winds were howling. As planned, my ...
How Cincinnati Insurance Does E&S
The Cincinnati Insurance Companies have grown business for 75 years through relationships with a carefully selected set of regional independent agents—and business in the surplus lines segment is ...
Rise of the Frequency Perils
There's no denying the frequency (aka secondary) perils have taken front and center stage when it comes to weather-related disasters and insurer claims.
Despite Higher Insurance Costs, Risks, EVs Are Set to Dominate Roads in 2025
More car buyers are leaning toward purchasing an electric vehicle over a gas powered one, with 64 percent of consumers expected to choose an EV for their next vehicle, according to a report published ...
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 ...
Future of Jobs: Claims Adjuster Among Fastest Declining Professions
Insurance claims adjusters have something in common with postal clerks, cashiers, administrative assistants and graphic designers. These jobs all rank among those in the greatest decline over the ...
Rebuilding Costs Rose More Than 60% in the Last Decade: Verisk
Over the past decade, there's been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial ...
Loss Uncertainty High Amid ‘Rapid Softening’: Liberty Mutual Exec
Using terminology that's more common among weather forecasters and catastrophe event modelers, a commercial lines insurance executive described an increasingly uncertain risk landscape uncomfortably ...
Four States See Increase in Auto Insurance Liability Limits in 2025
New legislation enacted in four states ups the amount of liability insurance required to operate a vehicle, according to AIS Insurance Specialists. California increased its minimum insurance ...
Half-Past Four Is the New Five O’Clock in More Efficient Workday
The average American workday now concludes at 4:39 p.m., a notable 42 minutes earlier than it did just two years ago when the clock-out time hovered around 5:21 p.m., ...
Polished Gem GEICO Fuels Berkshire Hathaway Operating Gains
The work that GEICO's CEO has done to "repolish" Berkshire Hathaway's "long-held gem" got a special shout-out in Berkshire Chair Warren Buffett's 2024 annual report to shareholders this weekend. ...
AmFam Reports Underwriting Profit for 2024
After two years of combined ratios over 110, American Family Insurance reported an underwriting profit in 2024—with a 96.6 for the year for all property/casualty lines it writes. The improvement ...
Sentry Transformation Saves ‘Tens of Thousands of Hours’ With AI in Claims
It would be hard to find a better testimonial to the power of artificial intelligence than what you'll get when you speak to people overseeing an AI and technology ...
Consumer Trust Issues Hinder Industry Efforts to Close Protection Gap: Survey
Most insurance executives surveyed last year believe they have "an ethical obligation" to close the protection gap—and also believe that "lack of trust in the insurance industry" is a key barrier ...
Bringing Positive Vibes Back to Personal Lines Insurance
Nationwide's Casey Kempton has a vision to bring positive vibes back to engagements between personal lines insurers and their customers—and it starts with understanding ...
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 ...
Progressive’s Margins Leave Room for Tariff Impacts; Others Ready Too
With its 2024 combined ratio falling comfortably more than 7 points below a targeted level of 96, Progressive has room to deal with the impacts of tariffs on car repair and replacement costs, the ...
The Growth of a New Wave of Distribution Startups in Commercial Auto Insurance
The wave of technological advancements generating, storing and using data has spurred on InsurTechs interested in revolutionizing insurance businesses, including those ...
Winter Weather Loss Prevention: A Strong ROI Opportunity for Property Insurers
Non-weather-related water perils are a part of all insurers' books of business. But our environment is experiencing what seems to be increasingly unpredictable and ...
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 ...
Liberty Mutual to Sunset Safeco Brand in 2026
Safeco Insurance will stop being a brand name in 2026, and Liberty Mutual Insurance will sell all of its personal lines products under the Liberty Mutual name. Safeco has been Liberty Mutual's brand ...
Rail Thieves Steal $100M in Cargo in 2024
Highly organized crime rings are targeting railroads to steal millions of dollars in cargo, according to a recent update by the Association of American Railroads. Coordinated federal action is key to ...
Where Homeowners Rates Are Rising—and Who Is Raising Them Most
According to a new analysis of homeowners insurance rates, some Midwest states saw the biggest jumps in premiums last year—and American Family Insurance topped a list of 10 insurers ranked by ...
Homeowners Insurance: Housing Shortage Collides With Wildfire Risk
Growth was clearly a theme running through fourth-quarter 2024 conference calls, although the message coming from companies was necessarily more nuanced where growth in ...
Enterprise Risk Management Secrets for Long-Term Company Growth
If my conversations with property/casualty insurance executives are any indication, many leaders view enterprise risk management (ERM) as simply an exercise for complying ...
Better Results Ahead? Technology Improvements in Commercial Fleets
Commercial auto insurance has experienced poor performance in aggregate, but the industry has also seen pockets of improvement resulting from considerable and unique ...
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 ...
How We’re Doing It: Boosting Corporate Culture and Customer Experience
For insurance carriers, delivering exceptional customer experience (CX) has never been more critical.
Today's policyholders expect ...
Progressive: Policies Grow Faster Than Workforce
Parts of Progressive's year-end earnings call early this month sounded a bit like Lemonade's Investor Day last year—with both focused on how automation supports growth without adding people. In ...
How to Operate in Today’s ‘Bananas’ Casualty Insurance World
Leaders of the casualty insurance practices of a global insurance carrier and a North American specialty brokerage offered insights for insurance buyers and sellers to deal with today's casualty ...
S&P Puts State Farm General Ratings on CreditWatch
Potential downgrades of State Farm's California homeowners insurer came closer to reality when S&P Global Ratings put the "AA" financial strength and issuer credit ratings of State Farm General ...
Lemonade: 700K Customers on the Car Waitlist
While Allstate's CEO Tom Wilson named GEICO and Progressive when asked about the ability to grow auto insurance in 2025 as competitors do the same, no one on Allstate or Progressive's earning calls ...
Data Insight: Who’s Growing in Personal Lines?
A relative newcomer to the personal lines space—Lemonade—marked a milestone this week, announcing that it surpassed $1 billion of in force premiums, a measure of annualized premiums that the ...
2025 Atlantic Hurricane Forecast: 15-19 Named Storms
A much cooler Atlantic Ocean is likely to lead to fewer, less intense hurricanes this year, according to a forecast issued last month by meteorological consulting firm Weather Bell Analytics. As La ...
Qualtrics, McKinsey Estimate $100B Insurance Value Gains With AI-Enabled CX
A new report highlights an estimated $860 billion opportunity AI presents in customer experience across industries, including $100 billion for insurance, while also revealing that most senior ...
Take Down of Vehicle Hostage Scam Nets 16 Arrests in California
The California Department of Insurance is warning drivers about a vehicle hostage scam sweeping Southland, after the arrests of 16 residents involved in an alleged auto insurance fraud ring. Scams ...
Fresh Fire Danger Threatens Oklahoma, 400 Homes Already Destroyed
With Oklahoma still reeling from deadly wildfires that whipped across the state and destroyed hundreds of homes in recent days, authorities warned that this week would bring a renewed risk of fire to ...
NAIC, Legislators Push to Abolish the Federal Insurance Office
Last week, the National Association of Insurance Commissioners announced its agenda for 2025, including the call to eliminate the Federal Insurance Office. This comes on the heels of legislation, the ...
Nearmap Launches AI-Powered Portfolio Product
Nearmap, a location intelligence provider to insurers, has announced the launch of a pre-built AI-powered tool that allows insurance carriers to analyze risk at the ...
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 ...
CoreLogic: Chicago Has Most Homes at Risk from Convective Storms
Convective storms added to a year of extreme weather events that will put pressure on property insurance rates, particularly in a few hard-hit states, a new report shows. CoreLogic released its 2025 ...
Introducing Berkley Embedded
W.R. Berkley Corporation announced the formation of Berkley Embedded Solutions on Monday—a business focused on delivering tailored insurance products and services to customers at the point of ...