Everest Insurance, the insurance division of Everest Group Ltd., has launched a dedicated U.S. Wholesale and Programs Division to serve the distinct and evolving needs of this market. “This dedicated offering reflects Everest’s decades of experience and exceptional support for …
The U.S. homeowners insurance segment has been hit with three consecutive years of net underwriting losses as a result of above-average numbers of natural catastrophes, inflationary pressures and elevated reinsurance costs. These market headwinds have led AM Best to revise …
U.S. property/casualty insurers that focused on difficult to place risks distanced themselves from their peers in key metrics measuring earnings, underwriting profitability, balance sheet growth and other indicators of success, according to S&P Global Market Intelligence. Kinsale Insurance Co., the …
Seventeen U.S. property/casualty insurance companies became impaired in 2021, with seven of the impairments driven by catastrophe losses from hurricanes, primarily in Louisiana and Florida, according to an AM Best report. In addition to the five Louisiana-domiciled companies and two …
NEXT Insurance and Thimble are the latest insurtechs to lay off part of their workforce this year, with NEXT citing challenging economic conditions and both insurtechs pointing to an increased focus on profitability. NEXT laid off 17% of its workforce …
Just as some insurers have tightened requirements for underwriting high-rise condominiums in the wake of the Champlain Towers collapse in Miami Beach last year, now mortgage banks are starkly revising lending rules. The moves could make sales of some condo …
Recently posted data provides new insight on the dire financial situation for Florida Farm Bureau, one of four carriers that announced it would stop writing or non-renew thousands of homeowner policies in Florida this year. Farm Bureau, which industry analysts …
In an effort to continue its commitment to promoting diversity, equity and inclusion in the insurance industry, the Wholesale and Specialty Insurance Association (WSIA) recently hired Vanessa Sims as its first director of DE&I. According to the association, Sims will …
Fox Point Programs is expanding its professional liability insurance offerings for small businesses in more than 2,000 professional categories through the introduction of its FoxPro Defender series errors and omissions (E&O) coverage. This coverage is being launched in collaboration with …
When Lou Levinson became president and CEO of Lexington Insurance in late 2018, he knew the company needed a change. He believed that Lexington should be a wholesale focused distribution channel and that the company should remain focused and disciplined …
