Latest Commercial Lines Headlines
All the headlines from our Commercial Lines Topic Page, ordered by recency.
US Commercial Lines Prices Up About 6% Again: WTW CLIPS
Dec 11 2024 // Broker WTW said commercial lines insurance rates increased overall by an average of 6.1% during the third quarter 2024. Quarterly price increases have been around 6% since the end of the pandemic, WTW reported in its...
Yellen Warns Financial System Still Faces Commercial Real Estate, Crypto Risks
Dec 10 2024 // The US financial system continued to face vulnerabilities from commercial real estate risk and digital assets in 2024, Treasury Secretary Janet Yellen said on Friday, even as cooling inflation and low unemployment...
Gallagher to Buy AssuredPartners for $13.5B to Increase Mid-Market Reach
Dec 9 2024 // Arthur J. Gallagher this morning said it has entered into an agreement to acquire AssuredPartners for $13.45 billion cash to expand its reach in the U.S. middle-market property/casualty and employee benefits...
Antares Announces Leadership Team for New Commercial Division
Dec 6 2024 // Antares Global Management Ltd. announced three key appointments for its new Commercial Division, which comprises Syndicate 1274 and Bermuda-based Antares Re. Antares announced in November that it was restructuring its...
GEICO Chooses North Texas as Operation Hub for Commercial Insurance Business
Dec 5 2024 // GEICO announced the addition 500 new jobs in North Texas in an expansion of its commercial insurance business. Of these positions, 300 will support GEICO’s commercial operations at its Richardson office, which has...
Ivans Index Shows Most Commercial Lines Renewal Rates Up in November
Dec 5 2024 // Most major commercial lines premium renewal rates were higher month over month, except general liability, which remained consistent with October and Commercial Property and Workers’ Compensation which saw a decrease,...
Rockford Mutual to Expand Commercial Lines Products in Michigan
Dec 2 2024 // Rockford Mutual Insurance Company (RMIC) announced a strategic expansion into the state of Michigan for Commercial Lines products in 2025. This decision is part of the company’s ongoing efforts to diversify its...
Outlook for US Commercial Insurance Segment ‘Stable’ as Profits Stay Strong: AM Best
Dec 2 2024 // AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to the segment’s persistently strong underwriting performance and improved investment...
2024 More of the Same in Commercial Auto Segment After $5B Net Loss in 2023
Dec 2 2024 // After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best report indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives, including...
UK Employers Warn Tax Rise Will Hit Investment and Pay
Nov 25 2024 // British employers have been caught off guard by a 25 billion-pound ($31 billion) tax rise at last month’s budget and plan to cut training, investment and jobs in response, a leading employers group said on...
CIAB: All Commercial Lines See Lower Q3 Premium Increases Except Umbrella
Nov 22 2024 // Respondents of a recent survey reported lower premium increases for all lines of business except umbrella during the third quarter. According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey,...
Commercial Lines Profit Growth: Execution Matters More Than Portfolio Mix
Nov 22 2024 // It is “how” commercial lines carriers execute their underwriting strategies, not “what” lines they write that is key to profitable growth for top performers, according to new research from...
Philadelphia Eagles Seek to Extend Covid-19 Business Insurance Bid Into Overtime
Nov 19 2024 // The Philadelphia Eagles football organization wants to force its case for Covid-19 business interruption insurance against insurer Factory Mutual Insurance Co. into overtime, arguing that its situation is unlike any other...
Economic, Social Inflation Influence Drop in Commercial Auto UW Profits: Triple-I/CAS
Nov 18 2024 // Commercial auto insurance has struggled to achieve underwriting profitability, even before inflationary conditions affected property/casualty lines in recent years. The trend has been accompanied by steady growth in net...
People Moves: Zurich Names Bernard Head of Industry Practices for US Middle Market; FM Promotes Hodge to COO
Nov 15 2024 // Stan Bernard Zurich North America, headquartered in Schaumburg, Illinois, promoted Stan Bernard to head of industry practices for U.S. Middle Market. Bernard succeeds Lynn Zeitler, who is retiring in December after 31...
Texas DWC Seeks Comments on Employer Forms
Nov 14 2024 // The Texas Department of Insurance, Division of Workers’ Compensation (DWC) is accepting public comments on revised static forms: DWC Form-005, Non-Subscriber Notice to Division of Workers’ Compensation. DWC...
2024 More of the Same in Commercial Auto Segment After $5B Net Loss in 2023
Nov 14 2024 // After the U.S. commercial auto insurance segment sustained a $5 billion net loss in 2023, a new AM Best reports indicates further deterioration in the first half of 2024. Despite targeted underwriting initiatives,...
People Moves: LP Insurance Services Names Reed to Commercial Team in Nevada
Nov 12 2024 // Travis Reed LP Insurance Services LLC named Travis Reed to its commercial lines team in northern Nevada. Reed has more than 10 years of industry experience, most recently as a sales executive with Alpine Insurance...
People Moves: Marsh Names Fraser as Int’l Corporate & Commercial Leader; Clear Group Appoints Chisholm as Sales and Marketing Director
Nov 7 2024 // This edition of International People Moves details appointments at the brokers Marsh and Clear Group. A summary of these new hires follows here. Marsh Names Fraser as Int’l Corporate & Commercial Leader Marsh,...
Ivans Index Shows Commercial Lines Renewal Rates Down in October From August
Nov 6 2024 // All major commercial lines premium renewal rates were lower in October than in August, according to the latest monthly Ivans Index. Premium renewal rate change by line of business for October 2024 highlights include:...
