It’s Not a ‘Standard’ Hard Market and Other Views
How players view today’s commercial lines market.
Cyber Rates Could Double Before 2023
With substantial uptick in losses, cyber combined ratios jumped in 2020 and 2021.
- Pay-Per-Mile Digital Insurer Metromile in Drive to Add Independent Agents
- Florida Litigated Claims Dropped 9% in September
- Insurance Technology: Guidewire Guides Insurers to Insurtechs; Rhino, Cover Genius Offer Embedded Renters Insurance
- Months Before Bankruptcy Move, J&J Offered $4B to Settle Talcum Claims
- California Insurance Commissioner Lays Out Priorities for CPCU Crowd
- Multiple Delaware Residents Indicted for Insurance Fraud
- Multiple Delaware Residents Indicted for Insurance Fraud
- People Moves: New Hire at Willis, Chamness Elected to Norfolk & Dedham Boards
- The Hilb Group Acquires Massachusetts’ Forrest Insurance Agency
- Fifth Member of $31M New York City Trip-And-Fall Scheme Arrested, Charged
- Governor Hochul Declares October as Cyber Security Awareness Month in New York
- Pennsylvania’s The Perzel Agency Joins The Liberty Company Insurance Brokers
- Climate Change Makes Drought Recovery Tougher in Western U.S.
- Oregon Agency Inadvertently Releases Employees Vaccine Status
- Arizona Restaurateur Whose Business Was Raided by Sheriff Gets $5M
- Parents of Unrestrained Girl Killed on Ride Sue Colorado Theme Park
- The Liberty Company Insurance Brokers Forms MGA Aura Risk in California
- California Insurance Commissioner Lays Out Priorities for CPCU Crowd
- Florida Litigated Claims Dropped 9% in September
- Lawsuits Decry Lead Levels in Mississippi Capital’s Water
- Canal Expands to Larger HQ in South Carolina
- NCCI Launches Workers’ Comp Learning Academy for Carriers
- Nashville Clamps Restrictions on Party Buses After Accident
- No App for That: Florida Court Bans Lawyer-Finding Service, But More to Come
- Louisiana Mayor: 300-400 Buildings Condemned From Hurricane Laura Damage
- Texas Workers’ Compensation Saw Telemedicine Services Skyrocket During Pandemic
- Texas Regulators OK Rule Requiring Power Companies to Better Prepare for Winter
- No Major Injuries After Plane Carrying 21 People Burns in Takeoff Mishap in Texas
- Chemical Giant to Pay $50M-Plus to Resolve Air Pollution Concerns in Texas, Iowa
- Texas Furniture Manufacturer Fined $249.6K for Exposing Workers to Amputation Hazards
- Ohio, Illinois Manufacturing Companies Sued for Disability Discrimination
- Missouri Officials: Teacher Information Data Breach to Cost $50M Outline
- North Dakota Aerospace School Halts Flights After Student Dies in Crash
- Former Wisconsin Insurance Agent Charged with Fraud; Fined $27K
- Indiana Man Sues After Alleging Police Knelt on Him
- Chemical Giant to Pay $50M-Plus to Resolve Air Pollution Concerns in Texas, Iowa
National News
- Top Regulators’ Roadmap Addresses Climate Change as Threat to U.S. Financial Stability
- NFL to Offer to Changes to ‘Race-Norming’ Testing Formula Used in Dementia Claims
- U.S. Urges Global Intellectual Property Waiver for COVID-19 Vaccines
- Insurance Technology: Guidewire Guides Insurers to Insurtechs; Rhino, Cover Genius Offer Embedded Renters Insurance
- Months Before Bankruptcy Move, J&J Offered $4B to Settle Talcum Claims
- Activist Investor Starboard Takes New Stake in Willis, Saying Broker Undervalued
East News
- Multiple Delaware Residents Indicted for Insurance Fraud
- People Moves: New Hire at Willis, Chamness Elected to Norfolk & Dedham Boards
- The Hilb Group Acquires Massachusetts’ Forrest Insurance Agency
- Fifth Member of $31M New York City Trip-And-Fall Scheme Arrested, Charged
- Governor Hochul Declares October as Cyber Security Awareness Month in New York
- Pennsylvania’s The Perzel Agency Joins The Liberty Company Insurance Brokers
Midwest News
- Ohio, Illinois Manufacturing Companies Sued for Disability Discrimination
- Missouri Officials: Teacher Information Data Breach to Cost $50M Outline
- North Dakota Aerospace School Halts Flights After Student Dies in Crash
- Former Wisconsin Insurance Agent Charged with Fraud; Fined $27K
- Indiana Man Sues After Alleging Police Knelt on Him
- Chemical Giant to Pay $50M-Plus to Resolve Air Pollution Concerns in Texas, Iowa
Workers’ Comp Again Beats Other Lines
Combined ratio of 91.1 was higher, but still showed profitable underwriting.
Texas / South Central News
- Louisiana Mayor: 300-400 Buildings Condemned From Hurricane Laura Damage
- Texas Workers’ Compensation Saw Telemedicine Services Skyrocket During Pandemic
- Texas Regulators OK Rule Requiring Power Companies to Better Prepare for Winter
- No Major Injuries After Plane Carrying 21 People Burns in Takeoff Mishap in Texas
- Chemical Giant to Pay $50M-Plus to Resolve Air Pollution Concerns in Texas, Iowa
- Texas Furniture Manufacturer Fined $249.6K for Exposing Workers to Amputation Hazards
Southeast News
- Florida Litigated Claims Dropped 9% in September
- Lawsuits Decry Lead Levels in Mississippi Capital’s Water
- Canal Expands to Larger HQ in South Carolina
- NCCI Launches Workers’ Comp Learning Academy for Carriers
- Nashville Clamps Restrictions on Party Buses After Accident
- No App for That: Florida Court Bans Lawyer-Finding Service, But More to Come
Pandemic’s Fatal Crashes: Traffic Goes Away, People Speed
Why did collisions decline but proportion that were fatal more than double?
West News
- Climate Change Makes Drought Recovery Tougher in Western U.S.
- Oregon Agency Inadvertently Releases Employees Vaccine Status
- Arizona Restaurateur Whose Business Was Raided by Sheriff Gets $5M
- Parents of Unrestrained Girl Killed on Ride Sue Colorado Theme Park
- The Liberty Company Insurance Brokers Forms MGA Aura Risk in California
- California Insurance Commissioner Lays Out Priorities for CPCU Crowd
International & Reinsurance News
- Bermuda’s Tax Advantage for Re/Insurers to Be Cut With 15% Global Minimum Tax: Fitch
- Berkshire Hathaway to Tender Stake in Italy’s Cattolica Under Generali Takeover Offer
- Worsening Off-Season Floods in Venice Trigger Fears About Climate Change Impact
- Fintech Paytm Gets Regulatory Nod for India’s Biggest Ever IPO: Source
- Employers in Qatar to Be Required to Provide Health Insurance for Expatriates
- Guy Carpenter Launches Global Insurtech Center of Excellence
- Aon and Cybereason Form Alliance to Help Protect Clients From Cyber Attacks
- Mosaic Offers $600M of Capacity for War, Terrorism and Political Violence Risks
- People Moves: FM Global Promotes Johnson and Dempsey in EMEA; Beazley Names Hiscox’s Wilson Head of Open Mkt, London; Rokstone Taps Pickard as D&F Property U/W
Insurance Journal Blogs and Columns
- Removing Insurance Risk Scores From Personal Lines Rating Is Not the Answer for Fairness and Consumer Financial Hardship Concerns
- Personal Cyber Risks Every Homeowner Should Understand
- Translating the Top 5 Most Cringeworthy Surety Conversations
- STDs and the PAP
- Innovation in Workers’ Compensation: Getting Ahead of Risk and Injury
Quote of Note
Insurance Top Gainers/Losers
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Metromile, Inc. | MILE | $3.52 | +8.31% |
| FG Financial Group, Inc. | FGF | $5.19 | +5.92% |
| Trupanion, Inc. | TRUP | $109.76 | +4.63% |
| United Insurance Holdings Corp. | UIHC | $4.41 | +4.01% |
| HCI Group, Inc. | HCI | $134.34 | +3.97% |
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Goosehead Insurance, Inc | GSHD | $161.07 | -8.31% |
| Ryan Specialty Group Holdings, Inc. | RYAN | $36.47 | -2.38% |
| The Allstate Corporation | ALL | $126.77 | -1.22% |
| Hallmark Financial Services, Inc. | HALL | $3.46 | -1.14% |
| NI Holdings, Inc. | NODK | $20.07 | -1.13% |
