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U.S. P/C Insurers Report 2020 Underwriting Profits Despite Costs of COVID-19: Fitch

Apr 12 2021 // Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined...

Texas OKs NCCI’s Workers’ Comp Loss Cost Filing Effective July 1

Apr 6 2021 // The National Council on Compensation Insurance’s (NCCI’s) advisory loss cost filing for Texas with an effective date of July 1, 2021, has been accepted by state insurance regulators. The Texas Department of...

London Market Insurers’ 2020 Profits Canceled by COVID-19 but Rates Are Rising

Apr 1 2021 // Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event...

K2 Insurance Services Acquires Montana’s Loss Run Pro

Apr 1 2021 // K2 Insurance Services, based in San Diego, Calif., has invested in Loss Run Pro LLC, headquartered in Missoula, Montana. LRP, founded in early 2020 by Reghan Brandt, was a participant in BrokerTech Ventures’ (BTV)...

Australia’s Floods to Hit Insurers’ Earnings, Put Upward Pressure on Reinsurance Rates

Mar 31 2021 // Insured losses from Australia’s March floods are expected to hit general (or property/casualty) insurers’ underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance rates,...

Lloyd’s Expects Large Loss from Suez Canal Blockage

Mar 31 2021 // The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion)...

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