Commercial Lines News

U.S. P/C Insurer Impairments Rise Slightly in 2019: AM Best

The U.S. property/casualty industry saw 13 new insurance company impairments in 2019, two more than in 2018, involving entities operating in a mix of lines of business and a variety of states, according to a new AM Best special report. …

Despite Challenges, New Year Will Bring Strong, Stable Industry: Hartwig

Despite a year of unprecedented challenges and uncertainty and a halting global economic recovery, the insurance industry remains strong, stable, sound and secure. Though below pre-COVID forecasts, major indicators point to positive rates of growth and a positive return on …

Department Store Blames Insurers As It Files Bankruptcy and Shuts Down

Century 21 Stores, an iconic New York off-price department store chain, filed for bankruptcy with plans to shut down, becoming the latest victim of the retail industry carnage that’s accelerated during the pandemic. The retailer will hold going out of …

Underwriters and Insureds Taking Harder Look at Commercial Property Risks

Commercial property underwriters are adjusting to a market defined by rising catastrophe losses and dwindling profits. From increasing rates and higher deductibles to fewer classes of business and stricter underwriting, even the best in class properties are feeling the heat. …

Why CIC Offers A 3-Year Policy

This post is part of a series sponsored by Cincinnati Insurance Company. The knowledge each of your business clients have of insurance costs and premium calculations falls along a spectrum from unsophisticated to savvy. For most, it’s a budgeted line …

What to Expect in Commercial Insurance Market Conditions Heading Into 2020

Ongoing rate increases and reductions in capacity are taking shape in most property/casualty commercial lines in the fourth—and for some, will continue into the new year, according to a recent report from broker USI Insurance Services. Only one line—loss sensitive …

Agents (Still) Looking for Underwriting Sweet Spot: Channel Harvest Survey

Whether technology is driving a “one size fits all” underwriting approach or carriers are narrowing their strike zone, this year’s independent agency survey from Channel Harvest reveals agents continue to ding companies for lack of flexibility. The latest Channel Harvest …

Commercial Auto: An Old Dog Up to New Tricks

For the seventh consecutive year, commercial auto is losing money. Despite rate increases in 23 of the last 25 quarters, the combined ratio topped 111 percent in 2017. The line has been a weak spot for many insurers, forcing them …

Liberty Mutual Restructures Distribution for Commercial & Specialty Products

Liberty Mutual has introduced a new distribution model for the U.S. in an effort to improve broker access to the insurer’s full suite of commercial and specialty insurance products. Shaun Kelly, president Global Risk Solutions Distribution, said in a statement …

Atlas General Insurance Recognized as a Top Workplace by San Diego Union Tribune

San Diego, CA, November 14, 2018 – Atlas General Insurance Services, LLC (‘Atlas’), a national multi-line program administrator, has for the third time been named as one of the Top Workplaces in San Diego by the San Diego Union Tribune. …