Long repair shop backlogs and lingering parts shortages have caused the average auto insurance repair cycle time to reach 23.1 days in 2023, up 6.2 days from 2022 and more than double the average repair time in 2021. According to the J.D. Power 2023 U.S. “It’ s really a testament to strong client management processes and improved digital communications,” said Mark…
Newswires
American Modern Insurance Group, Inc., a leading specialty insurance organization and a Munich Re company, today issued a report on key issues shaping the personal lines Property& Casualty marketplace based on results of a recent survey of independent insurance agents across the United States. This press release features multimedia. “This study uncovers…
First American Financial Corporation, a premier provider of title, settlement and risk solutions for real estate transactions and the leader in the digital transformation of its industry, today announced financial results for the third quarter ended Sept. 30, 2023. Earnings per diluted share of, or $1.22 per share on an adjusted basis Net investment losses of…
–Donegal Group Inc. and today reported its financial results for the third quarter and first nine months of 2023.. Net loss of $0.8 million, or 2 cents per Class A share, compared to net loss of $10.4 million, or 33 cents per Class A share Net premiums earned increased 8.9% to $224.4 million Net premiums written 1 increased 6.3% to $219.2 million Combined ratio of…
Oct. 25— Pritzker Private Capital, an Illinois- based investment firm, has acquired a minority stake in Lawley, the Buffalo- based independent insurance broker and employee benefits firm. The firm, one of the 100 largest insurance brokers in the United States, has about 500 employees in three states; about half of them are based at Lawley's headquarters in Buffalo.
The Medicare program's annual open enrollment period extends from Oct. 15- Dec. 7. Unfortunately, the cost of these "Medigap" plans has steadily risen, and now cost approximately $2,000 annually. After a series of successful lobbying blitzes beginning in the 1980 s, the health insurance industry "persuaded" the US Congress to create a second type of option: Medicare…
–WTW, a leading global advisory, broking and solutions company, today announced financial results for the third quarter ended September 30, 2023. Revenue was $2.17 billion for the third quarter of 2023, an increase of 11% as compared to $1.95 billion for the same period in the prior year. Net Income for the third quarter of 2023 was $139 million, a decrease of 28%…
–WTW, a leading global advisory, broking and solutions company, today announced financial results for the third quarter ended September 30, 2023. Revenue was $2.17 billion for the third quarter of 2023, an increase of 11% as compared to $1.95 billion for the same period in the prior year. Net Income for the third quarter of 2023 was $139 million, a decrease of 28%…
–The "Commercial Insurance Global Market Report 2023" report has been added to ResearchAndMarkets.com' s offering. The global commercial insurance market is expected to grow from $660.90 billion in 2022 to $715.87 billion in 2023 at a compound annual growth rate of 8.3%. The commercial insurance market is expected to reach $987.29 billion in 2027 at a CAGR of…
Hithium, the stationary battery producer, announced the agreement with Munich Re to provide warranty reinsurance for its energy storage systems. The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS project owners’ risk as well as Hithium’ s, providing system owners with coverage even in case of a manufacturer…
A year ago, everyone in Florida knew property insurance rates were skyrocketing out of control. The insurance industry’ s own trade group said homeowners "rates in Florida were the highest in America, averaging $4,231 a year— nearly triple the national figure. The Insurance Information Institute says average premiums in Florida are now $6,000, representing a…
A year ago, everyone in Florida knew property insurance rates were skyrocketing out of control. The insurance industry’ s own trade group said homeowners "rates in Florida were the highest in America, averaging $4,231 a year— nearly triple the national figure. The Insurance Information Institute says average premiums in Florida are now $6,000, representing a…
2023 OCT 25– By a News Reporter-Staff News Editor at Insurance Daily News– State Farm Mutual Automobile Insurance Company has been issued patent number 11776246, according to news reporting originating out of Alexandria, Virginia, by NewsRx editors. The patent’ s inventors are Bernico, Michael, Bokshi-Drotar, Marigona, Breitweiser, Edward W., Laube, Peter, Myers,…
2023 OCT 25– By a News Reporter-Staff News Editor at Insurance Daily News– According to news reporting originating from Alexandria, Virginia, by NewsRx journalists, a patent by the inventors Brannan, Joseph Robert, Gross, Ryan Michael, Harvey, Brian N., Riley, Sr., Matthew Eric, Wilson, J. Lynn, filed on May 13, 2021, was published online on October 3, 2023.
2023 OCT 25– By a News Reporter-Staff News Editor at Insurance Daily News– Researchers detail new data in risk management. According to news reporting from Toronto, Canada, by NewsRx journalists, research stated,“ The reach and scope of microinsurance have expanded considerably over the last couple of decades.”. The news editors obtained a quote from the research…
2023 OCT 25– By a News Reporter-Staff News Editor at Insurance Daily News– From Washington, D.C., NewsRx journalists report that a patent application by the inventor Rugel, John, filed on June 6, 2023, was made available online on October 5, 2023. The patent’ s assignee is Allstate Insurance Company. News editors obtained the following quote from the background…
2023 OCT 25– By a News Reporter-Staff News Editor at Insurance Daily News– Investigators publish new report on agriculture. According to news originating from New York City, New York, by NewsRx correspondents, research stated,“ Importance: Poor access to care and lack of health insurance are important contributors to disparities in glycemic control.
2023 OCT 25– By a News Reporter-Staff News Editor at Insurance Daily News– Fresh data on environmental science are presented in a new report. The news journalists obtained a quote from the research from Louisiana State University:“ The widespread and costly nature of flood hazards, with the economically disadvantaged disproportionately victimized…
A year ago, everyone in Florida knew property insurance rates were skyrocketing out of control. The insurance industry’ s own trade group said homeowners "rates in Florida were the highest in America, averaging $4,231 a year— nearly triple the national figure. So, after years of ignoring the mounting crisis to wage culture wars with Disney and drag queens, Florida’ s…
