Personal Lines News

Rising Homeowners Losses Hurt P/C Insurers in 2017: Fitch

Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal automobile insurance contributed largely to underwriting losses. …

Berkshire Hathaway GUARD Enters Personal Lines Segment

Berkshire Hathaway GUARD Insurance Companies is now offering homeowners and personal umbrella coverage in Pennsylvania. The product is available through the company’s platform with a target market of one- to four-family dwellings, renters, and condo units (both owner-occupied and those …

Personal Lines Startup Sherpa Raises $2.3M for UK Launch

Insurtech startup, Sherpa, announced it has raised $2.3 million in funding from angel investors, in a venture designed to “change the way personal insurance is delivered.” “We have completely re-thought the way insurance has worked for 100’s of years,” says …

Online Property Management Service Cozy Takes On Renters Insurance Market

The renters insurance market has been a hard nut to crack for the industry, but an insurance carrier and online rental service platform hope their partnership may be the secret to breaking through. Cozy, an online property management site for …

Homeowners Often Overlook Mitigating Water Leak Risks: Chubb

The majority of homeowners do not view internal water leak damage as the most concerning home threat, despite the fact that water leaks are a more frequent risk than fire and theft, a new Chubb survey revealed. “The time between …

What Agents Want from Carriers in 2022: Survey

Independent agents and brokers who work primarily in personal lines believe competitive pricing, carrier technology and customer service will be more important in five years than they are now. The sentiment is quite different in commercial lines, where agents say …

Travelers Launches Usage-Based Insurance App for Personal Auto Customers

The Travelers Companies, Inc. has launched IntelliDrive smartphone app, which gives customers insights into their driving habits and auto insurance priced according to how they drive. Customers who use the app and drive safely can save up to 20 percent …

London Underwriters, Trigon to Offer Alabama Homeowners Program

London Underwriters LLC, a national MGA and surplus lines broker, has partnered with Birmingham based wholesaler Trigon Inc., to provide a new and exclusive low-value homeowners program for the state of Alabama. The product will target homeowners (HO3, HO6 and …

Survey: Agents Suggest How Carriers Can Move from ‘Good’ to ‘Great’

One would expect to see high levels of satisfaction between an independent agency and its top carrier, but that isn’t always the case. Peeling back the layers usually reveals fertile ground for improvement and shows the path to higher performance …

Private Investment Firm, J.C. Flowers, Acquires UK General

J.C. Flowers & Co. LLC, a New York-headquartered private investment firm that focuses on investing in the global financial services industry, announced it has acquired UK General Insurance Group Ltd. Completed on May 24, after receiving UK regulatory approval, the …