P&C Companies News

Uptick in Lawyers’ Liability Claims; Business Transactions Top Claim: Study

Law firms have seen an increase in the frequency of malpractice claims, which are becoming more costly to defend and could cause lasting reputational damage, according to a new study by insurance broker Ames & Gough. The study found that …

Autopilot Warning May Not Help Tesla in Crash Defense

Telling Tesla drivers its Autopilot feature doesn’t mean their cars can drive themselves may not be enough to keep Elon Musk off the hot seat if the technology comes up short. This month, two Teslas equipped with Autopilot veered into …

Workers’ Comp Line Achieves ‘Significant’ Profit in 2015: Fitch

The U.S. workers’ compensation insurance market achieved a “significant” underwriting profit in 2015, but trends call into question whether such a result can be repeated, Fitch Ratings concluded in a new report. For 2015, the workers’ compensation combined ratio came …

Mid-Market Firms Fall Short on Natural Catastrophe Risk Management: Assurex Global

Middle market businesses in all parts of the world view their exposures to natural catastrophes as increasing but some fall short when managing these risks effectively, according to a new survey of senior executives at more than 80 independent insurance brokers. The survey …

Survey: Agents Value Carrier Underwriting More Highly Now Than 5 Years Ago

A comparison of independent agent opinions five years ago to today shows how far the agency channel has come while also illustrating that certain fundamentals remain important throughout cycles and market disruption. Nearly 2,000 independent agents weighed in for the …

Wedding Vendors Account for Most Costly Claims: Travelers

Problems with vendors amounted to 30 percent of claim payments for all wedding claims, according to Travelers Companies, Inc. which announced the findings of its recent analysis of wedding insurance claims from 2011–2015. Wedding venues going bankrupt, photographers failing to …

IBHS Receives 2016 IMCA Innovation Torchbearer Award

The Insurance Institute for Business & Home Safety (IBHS) received the 2016 Innovation Torchbearer Award from the Insurance Marketing & Communications Association. IMCA’s annual Innovation Torchbearer Award recognizes individuals or organizations that have demonstrated innovative ideas or initiatives impacting the …

Workers’ Compensation Market Improved, Grew Premium in 2015: NCCI

The workers’ compensation market is healthy and profitable. This year’s “State of the Line” report, published by the National Council of Compensation Insurance (NCCI), indicates that the workers’ compensation calendar year 2015 combined ratio for private carriers was 94 percent. …

Confie Buys Automobile Insurance Specialists, Trinity Insurance & Whitehead Insurance

Editor’s Note: This announcement has been updated to correct the name – Automobile Insurance Specialists Inc., based in Las Vegas. Confie has acquired three insurance agencies in Las Vegas, South Florida, and Washington State. Confie acquired the assets of: Automobile Insurance …

One-Size Doesn’t Fit All in Today’s Evolving Homeowners Market

The homeowners insurance line, not often thought of as a bastion of change, is actually quietly evolving beyond the traditional “one-size-fits-all” business. Some of the puzzle pieces that make up homeowners insurance are changing shape and new pieces that address …