premiums News

Florida HO Premiums Highest in Nation at $4,200 Average, Triple I Report Shows

A report from the Insurance Information Institute confirms what many Florida homeowners have suspected: Their insurance premiums are some of the highest in the nation. The annual cost of a Florida homeowners policy this year will jump to $4,231 – …

Loss Costs Outpace Increase in Premiums for U.S. P/C Industry Through Q3

Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss costs for many lines of business continue to dampen profitability. Through the first nine months of 2021, the …

Arizona House Passes Accelerated Insurance Company Tax Cut

The Republican-controlled Arizona House has passed a bill accelerating the phase-in of insurance company tax cuts they passed last year. House Bill 2002 is sponsored by House Republican Majority Whip David Livingston. He also sponsored the bill signed by Gov. …

BHSI Lowers Casualty Minimum Premiums, Adds Deductible Options

Berkshire Hathaway Specialty Insurance (BHSI) is broadening its casualty appetite in the U.S., lowering its minimum policy premium for eligible products liability, general casualty, energy and trucking risks, while introducing deductible options for primary general liability and product liability policies. …

How States Rank, High to Low, in Workers’ Compensation Premiums

A list of state rankings for workers’ compensation premiums shows a slight drop in premiums in the last two years, and that a number of states are close in terms of how much employers are paying. The list put out …

Settlements Against Uninsured New Mexico Rail Service Reach Nearly $8M

New Mexico’s commuter rail service has received a free ride while taxpayers have shelled out nearly $8 million to settle damage claims against the Rail Runner Express, according to state records. The Rail Runner, until last month, didn’t pay premiums …

Ex-Insurance Broker Arrested in California for Embezzlement

John Monreal, 45, of Santa Clarita, Calif. was arrested on May 30 by Los Angeles County Sheriff’s Department deputies on 11 felony counts of embezzlement and insurance code violations after he allegedly duped multiple consumers into believing they were insured …

AIG Sued by Small Businesses Over Workers’ Compensation Reporting

Class action lawsuits in federal courts on both coasts have been initiated on behalf of small businesses in California, New York and New Jersey against American International Group (AIG) over workers’ compensation reporting. Plaintiff attorneys say the case could involve …

Dias Named Swett & Crawford Sales Leader in Washington

Frank Dias was made sales leader for Swett & Crawford’s Seattle, Wash. office. Dias will continue to serve as casualty broker in addition to his new role. Dias began his insurance career as a property underwriter with Aetna Life & …

Wildfires, Hail Take Toll on Colorado Homeowners Insurance

It’s safe to say there’s a lot going on in the homeowners insurance scene in Colorado, where homeowners insurance rates are likely to be on the rise for some time. Insured losses from the recently doused Black Forest fire should …