Climate disasters in France cost insurers €6.5 billion in 2023 – a worrying increase in claims that comes...
State Farm facing worst homeowners loss ratio in 2 decades
The insurer's homeowners direct incurred loss ratio for the first three quarters of 2023 was 84%...
The insurer's homeowners direct incurred loss ratio for the first three quarters of 2023 was 84%...
Article / 3 months ago
Claim severity surges for California's largest homeowner insurers
California's largest homeowner insurers are reporting a surge in non-catastrophe claim severity as they seek to substantially increase their rates....
California's largest homeowner insurers are reporting a surge in non-catastrophe claim severity as they seek to substantially increase their rates....
Article / 4 months ago
Florida-exposed P&C insurers weather Idalia storm
Florida-based property and casualty insurers and other large carriers that underwrite auto and home insurance in the Southeastern US performed relatively well in the stock market...
Florida-based property and casualty insurers and other large carriers that underwrite auto and home insurance in the Southeastern US performed relatively well in the stock market...
Article / 7 months ago
Allstate, Travelers see Q2 catastrophe losses about double YOY
The Allstate Corp., The Travelers Cos. Inc. and The Progressive Corp. saw the highest second-quarter catastrophe loss increases among US property and casualty...
The Allstate Corp., The Travelers Cos. Inc. and The Progressive Corp. saw the highest second-quarter catastrophe loss increases among US property and casualty...
Article / 8 months ago
Insurers hit hard as US hailstorms grow more severe, costly in warming climate
Severe hailstorms that scientists believe may be driven by climate change, coupled with rising populations in areas prone to violent weather, pummeled...
Severe hailstorms that scientists believe may be driven by climate change, coupled with rising populations in areas prone to violent weather, pummeled...
Article / 8 months ago
Ongoing Canadian wildfires not expected to break 2016 insured loss record
Smoky haze from wildfires in Canada diminish visibility and degrade air quality in New York City on June 7...
Smoky haze from wildfires in Canada diminish visibility and degrade air quality in New York City on June 7...
Article / 10 months ago
Fla. litigation reforms help curb reinsurance shortage at June 1 renewals
Legal reforms in Florida aimed at curbing claims litigation prevented reinsurers from pulling more property-catastrophe coverage from the market at the upcoming...
Legal reforms in Florida aimed at curbing claims litigation prevented reinsurers from pulling more property-catastrophe coverage from the market at the upcoming...
Article / 10 months ago
Fla. residential property insurers post back-to-back $1B+ losses
Costs associated with litigation and Hurricane Ian pushed Florida's domestic residential property insurers deeper into the red in 2022....
Costs associated with litigation and Hurricane Ian pushed Florida's domestic residential property insurers deeper into the red in 2022....
Article / 12 months ago
Liberty Mutual, Allstate, Berkshire catastrophe losses exceed $3B in 2022
Ice covers a restaurant along the Lake Erie shoreline on Dec. 24, 2022, in Hamburg, N.Y., after winter storm Elliott hit the Buffalo suburb with wind gusts over 70...
Ice covers a restaurant along the Lake Erie shoreline on Dec. 24, 2022, in Hamburg, N.Y., after winter storm Elliott hit the Buffalo suburb with wind gusts over 70...
Article / 1 year ago
US P&C 2023 outlook: reinsurance costs, M&A slowdown, E&S evolution
A hard market, higher reinsurance costs and ongoing low M&A activity are in the cards for property and casualty insurers in the new year.
A hard market, higher reinsurance costs and ongoing low M&A activity are in the cards for property and casualty insurers in the new year.
Article / 1 year ago