Latest Business Insurance Headlines
All the headlines from our Business Insurance Topic Page, ordered by recency.
25 Straight Quarters of Premium Increases for Commercial Lines: CIAB Survey
Mar 4 2024 // Overall commercial property/casualty premiums increased slightly for all account sizes to 7% on average in the fourth quarter 2023, continuing a trend that has now last more than 6 years. According to The Council of...
Small Business Cyber Gap
Mar 4 2024 // Yvette Prichard says cyber insurance continues to be an area where small businesses have significant gaps in their insurance portfolios. “It is a big risk; any business that does anything on a computer needs cyber...
SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years
Mar 4 2024 // SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January...
Small Business Market: Rising Costs, Hard Market but Hope for New Opportunities
Mar 4 2024 // There are reasons to be optimistic about the small business insurance market. New businesses are opening their doors every day. Small business start-ups are booming with record-breaking new business applications reported...
Embedded Business Insurance Agency Coverdash Raises $13.5 Million
Feb 29 2024 // Coverdash, which offers embedded commercial insurance technology with products for startups and small-to-medium businesses, announced $13.5 million in Series A funding. Coverdash’s technology package gives businesses...
Marsh: US Commercial Lines Rates Up 3% in Q4 2023
Feb 19 2024 // Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates. The Marsh Global Insurance Market Index said it was the 25th...
Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best
Feb 19 2024 // The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7 and personal lines at 109.9, according to the latest underwriting projections by actuaries at the...
It’s Time for the Commercial Property Insurance Industry to Adopt Tech Efficiencies
Feb 19 2024 // Buyers of commercial property insurance are facing many challenges. Rates are rising, capacity is becoming scarce (particularly in catastrophe exposed zones), and large programs, often involving dozens of insurers, are...
Over 350 People Contact Law Firm Reviewing FDIC Workplace Culture
Feb 16 2024 // More than 350 people have contacted an outside law firm reviewing workplace culture at the U.S. Federal Deposit Insurance Corporation in the wake of media reporting last year on allegations of persistent sexual harassment,...
SAIF in Oregon Reports Ice Caused Most Workplace Slips, Trips, Falls in 7 Years
Feb 14 2024 // SAIF in Oregon, which reported receiving 400-plus claims after January’s winter weather, said more Oregon workers were injured from slips, trips, and falls due to snow or ice than during any other storm since January...
Nearly 75% of Employers Don’t Have AI Protocols for Internal Communications: Study
Feb 13 2024 // Despite organizations’ increased adoption of artificial intelligence (AI), 71% don’t provide internal guidance on when, where or how to use the technology, according to Gallagher’s 2023/24 State of the...
People Moves: Grange Insurance Names Welch VP, Commercial Lines Underwriting
Feb 8 2024 // Grange Insurance Company, headquartered in Columbus, Ohio, named Kyle Welch vice president of commercial lines underwriting for the East region covering Georgia, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee and...
Marsh: ‘Stable’ Q4 Commercial Rate Increase of 2%
Feb 5 2024 // Broker Marsh said global commercial insurance rates increased by 2% at renewal in the fourth quarter of 2023, marking the 25th straight quarter of rate increases. “At a time of much global economic uncertainty,...
Marsh: US Commercial Lines Rates Up 3% in Q4 2023
Feb 5 2024 // Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates. The Marsh Global Insurance Market Index said it was the 25th...
Cyber Threats Top Global Business Risk Concern for 2024: Allianz
Feb 5 2024 // Cyber-related incidents such as ransomware attacks, data breaches and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. Business interruption ranked second, while...
Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best
Feb 1 2024 // The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7 and personal lines at 109.9, according to the latest underwriting projections by actuaries at the...
State Troopers Arrested for Alleged Commercial Driver’s License Bribery Scam
Jan 31 2024 // Two current and two former Massachusetts State Police troopers are among six charged in connection with an alleged conspiracy to give passing scores to certain Commercial Driver’s License (CDL) applicants, including...
Markets/Coverages: Insurtech BOXX Partners With AXA to Offer Cyber Risk Mitigation for Small Businesses
Jan 30 2024 // BOXX Insurance, the Toronto-based cyber insurtech and managing general agent, has announced the launch of a cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small...
Compared to Prior Quarter, All Commercial Lines Saw Renewal Rate Up in Q4: Ivans
Jan 24 2024 // Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last...
The Hartford to Start Offering Vermont’s Family Leave Insurance Program for Employers
Jan 23 2024 // The Hartford will begin offering the Vermont Family and Medical Leave Insurance (FMLI) program for employers on February 15. Employers with two or more employees will have the opportunity to work withe the insurer’s...
