Rate hikes for commercial lines of insurance are slowing to single-digit increases or even flat renewals, according to broker WTW’s Marketplace Realities spring update. The exception, as it has been, is cyber insurance. Buyers here keep seeing even higher increases. …
Auto, Home Insurance Bundler Branch Now Available in 25 States Branch, an insurance company that touts “instantly-bundled” home and auto insurance, announced its expansion to the six states of Idaho, Iowa, New Hampshire, South Dakota, Tennessee, and Virginia. These bring …
IMA Financial Unveils the Metaverse’s First Insurance Research & Development Facility Financial services firm IMA Financial Group said it has launched the metaverse’s first insurance and risk management research and development facility. Called IMA Web3Labs, it will be located in …
US Insurers — already hammered by extraordinary losses caused by natural disasters — are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property Casualty Insurance Association said Friday. APCIA said private property …
U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was above 7%. The survey compared prices charged on policies …
Taking a deep dive into the world of managing general agents and other delegated underwriting authority enterprises, AM Best reports that premiums generated by DUAEs are climbing, and interest in MGA acquisitions remains high. In a March 1, 2022 report …
Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an underwriting loss of $15.7 billion. Best’s Market Segment …
Following a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property catastrophe market by 2040, said Gallagher Re. In fact, if the cyber market continues to …
Peter Zaffino, CEO of American International Group (AIG), said the company’s ongoing analysis of the increased frequency and severity of natural catastrophes has led to a decision to move the high-net worth homeowners business to excess and surplus lines in …
Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best. In 2021 the number of rating upgrades increased to 54, up from 38 …
