APCIA Says Property Insurance Market ‘Hardest in a Generation’ March 29, 2023 By Jim Sams A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a...
Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios October 27, 2022 By Jim Sams US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic...
CEOs of Travelers, CNA Elected APCIA Chair, Chair-Elect October 20, 2022 Alan Schnitzer, chairman and CEO of The Travelers Companies, has been elected chair of the board of directors of the...
Industry Trades Respond to FIO’s Proposal to Collect Climate Change Data October 19, 2022 By Chad Hemenway Shortly after Treasury’s Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate...
Man-Made Crises Threaten P/C Markets, Says Joint Report From Trade Associations August 24, 2022 By Chad Hemenway Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew – a storm that upended and transformed insurance...
P/C Industry Posts 2021 Underwriting Loss but Surplus Hits $1 Trillion May 26, 2022 Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry...
Most Homeowners Underinsured for Trends in Inflation, Building Costs: APCIA May 6, 2022 A new American Property Casualty Insurance Association (APCIA) survey of over 1,000 U.S. homeowners who have a homeowners insurance policy,...
Kansas Tornado Generated 165 MPH Winds; Over 1,000 Buildings Damaged May 2, 2022 The tornado that damaged more than more than 1,000 buildings in south-central Kansas generated winds up to 165 mph and...
Federal Court in Delaware Requiring Disclosure of Litigation Funding Agreements April 22, 2022 By Jim Sams Insurers are applauding a decision by the chief judge for the U.S. District Court in Delaware to require parties to...
P/C Insurers’ Boost Net Income But Extreme Weather Hurts Underwriting in Q1 July 29, 2021 Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20...