Most Popular Personal Lines Headlines This Year
The most viewed headlines from our Personal Lines Topic Page over the last year.
#1 Twice as Many Personal Lines Insurers Downgraded by AM Best in 2023
Mar 12 2024 // AM Best delivered 39 downward credit rating actions to U.S. personal lines insurers in 2023, more than twice the number registered for 2022, the rating agency reported in it official tally for the year. Additional...
#2 State Farm Stops Taking New Applications for Business, Personal Lines P/C in California
May 27 2023 // An insurer group was quick to respond over the weekend after State Farm announced it will cease accepting new applications for business and personal lines property/casualty in California to deal with increased risks and...
#3 Travelers’ Q4 Net Income Skyrockets as Personal Lines Reverses Underwriting Loss
Jan 19 2024 // Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time last year to $1.6 billion on lower catastrophe losses and a return to profitable results in the personal insurance...
#4 US Personal Lines Outlook Continues to Be Negative: AM Best
Dec 4 2023 // The U.S. personal lines insurance industry faces too many daunting challenges, leading AM Best to maintain its negative outlook. The outlook for personal lines was changed to negative in September 2022 – at first due in...
#5 Alera Group: Personal Insurance Outlook ‘Discouraging’
Dec 18 2023 // Unprecedented industry losses and unprofitability in homeowners and auto insurance will significantly impact pricing and availability in 2024, especially in catastrophe-prone areas and states with challenging regulations,...
#6 Viewpoint: California Needs Regulatory Reform and Quick Rate Review to Halt Personal Lines Meltdown
Jun 2 2023 // The regulation of property/casualty insurance in California has been an epic failure—look no further than the state of the market for personal automobile and homeowners insurance. California Insurance Commissioner...
#7 Regulatory Battles In Personal Lines Ahead; Allstate May Drop Customers
Dec 8 2023 // Analysts from Standard & Poor’s predicted this week that while personal auto results are starting to stabilize, the continued push for rate in 2024 will set the stage for more faceoffs between regulators and...
#8 North Carolina Rate Bureau Wants 42% Hike in Residential Property Insurance Rates
Jan 8 2024 // The North Carolina Rate Bureau, basing its calculations on input from 197 property insurance companies, has asked for a 42% average increase in homeowners insurance rates, to take effect Aug. 1. The rate bureau’s...
#9 Leadership Changes at The Hartford With New Heads of Commercial, Personal Lines
Nov 30 2023 // The Hartford said it will head into 2024 with new heads of commercial and personal lines and announced additional leadership changes. Mo Tooker A. Morris “Mo” Tooker, who joined The Hartford in 2015 as chief...
#10 Q2 Commercial P/C Rates Hold; Personal Lines Slightly Decrease: MarketScout
Jul 7 2023 // Like the first quarter of 2023, the composite rate for U.S. commercial property/casualty lines increased 5% in the second quarter, according to MarketScout’s Market Barometer. The Dallas-based distribution and...
#11 Risks to Watch in the Personal Umbrella Market
Jun 19 2023 // Increases in auto accident severity, attorney involvement and litigation, as well as recreational activities are driving claims in the personal umbrella space — and one expert believes their impacts will only...
#12 Zuckerberg Avoids Personal Liability in Meta Addiction Suits
Apr 16 2024 // Mark Zuckerberg won his bid to avoid personal liability in about two dozen lawsuits accusing Meta Platforms Inc. and other social media companies of addicting children to their products. US District Judge Yvonne Gonzalez...
#13 Frederick Mutual Exiting Personal Lines; Signs Renewal Deal With Farmers of Salem
Nov 8 2023 // Frederick Mutual, which is exiting the personal lines market and focusing strictly on commercial lines in the Mid-Atlantic and Southern regions, has reached a renewal rights agreement with another insurer for the bulk of...
#14 People Moves: Chubb Names Scheffler COO of Personal Risk Services; AXIS Appoints Morley Head of US E&O
Apr 19 2024 // Chubb said it has promoted Melissa Scheffler to chief operating officer of Personal Risk Services (PRS). Currently, Scheffler serves as regional executive officer for the Mid-Atlantic region. In a corresponding move, Bryce...
#15 Tech Update: Vertafore Delivers Policy Binding in its Personal Lines Rater; Amwins’ Online Marketplace Provides Bindable Quotes From Multiple Carriers
Apr 4 2024 // Vertafore Delivers Policy Binding in Personal Lines Rater Vertafore, headquartered in Denver, launched the industry’s first bind capability within a personal lines rater. Vertafore’s personal lines rating and...
#16 Canada’s Intact Financial Kicks Off Sale of RSA’s Personal Insurance Business
Sep 19 2023 // Intact Financial Corp. has kicked off the sale of its personal insurance subsidiary in the UK, which could be valued at around £500 million ($620 million), people with knowledge of the matter said. The Canadian insurer is...
#17 People Moves: McGriff Restructures Personal Lines Operations; Tinubu Appoints Edwards as Surety COO
Aug 3 2023 // Retail broker McGriff said it has restructured its personal lines operations to allow for direct support to the private client sales and service functions within the division, following a period of substantial growth and...
#18 People Moves: Zimmer to Take Alliant CEO Reins From Corbett; WTW Names Forms Client Growth Team; Xceedance Hires Flynn for Personal Lines
Jan 18 2024 // Alliant Insurance Services named Greg Zimmer chief executive officer, taking over for Tom Corbett, who has served as CEO for more than 30 years. The new leadership roles will take effect April 1, 2024. Zimmer joined...
#19 Q3 Commercial, Personal Rates Moderate: MarketScout
Oct 11 2023 // Third quarter 2023 commercial insurance rates remained up, but about 3.7% compared to up about 5% during the second quarter. According to MarketScout’s Market Barometer, the composite rate for all U.S. lines of...
#20 People Moves: WTW Names Buganski Head of Personal Lines, CRB; Cueman New AXIS Head of Construction; Wargin Joins Dyad; Markel’s Houser Picked for IICF Board
Jan 11 2024 // WTW Names Buganski Head of Personal Lines, CRB NA WTW, headquartered in Arlington, Va., appointed Despina Buganski as head of personal lines, corporate risk and broking, North America (CRB NA). With more than 30 years of...
