As a whole, the outlook for the U.S. commercial lines segment continues to be stable, according to AM Best, but the industry rating agency had some warnings in its latest report. Rate changes at renewal remained strong, catastrophe losses have …
Top executives at Kroger Co. and Albertsons Companies Inc. are expected to face tough questions on Tuesday from lawmakers who worry the grocers’ planned $25 billion merger will push up food prices at a time when inflation is a concern. …
The number of people who have dropped out of Britain’s job market since 2019 and who now cite a long-term illness or mental health problems has risen by half a million or about 25%, the Office for National Statistics (ONS) …
Despite a majority of global business leaders expecting a recession within the next year, many still have a positive outlook on the economy. Some leaders even reported feeling very prepared heading into a recession. That’s according to Aon’s 2022 Executive …
US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and Casualty Insurance Association says in a …
If Hurricane Ian would have made landfall in Florida, say, six months ago, the costs of reconstruction could have been even higher than the already staggering estimates now coming from the Sunshine State. Inflation is indeed set to bump up …
Lyft Inc. is increasing the service fee its U.S. riders pay directly to the company to cover higher insurance costs, the ride-hailing firm said. The increase averages less than 50 cents per trip nationally, a Lyft spokesperson said. The company …
With rising inflation and the prospects of a recession on the horizon, the present macroeconomic environment is forcing property/casualty underwriters to adapt to new technologies and sources of data. All the while, policyholders are demanding more from underwriters, whether it’s …
European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a research report published …
Britain’s Financial Conduct Authority (FCA) told banks and insurers on Thursday to do more to help customers struggling with a cost of living crisis as it investigates 40 banks for dragging their feet. Interest rates are increasing to quell decades …
