Property and Casualty News

Lawsuits against insurers contribute significantly to the state's insurance challenges, legislators said at an Oct. 11 meeting of the House Civil Law and Procedure Committee, the Center Square reported. The claim litigation rate in Louisiana is three times the national average, prompting the American Tort Reform Foundation to name the state to its Judicial…

Indemnity is a publicly held Pennsylvania business corporation that has since its incorporation in 1925 served as the attorney-in-fact for the subscribers at the Erie Insurance Exchange. The Property and Casualty Group is a regional insurance group operating in 12 Midwestern, Mid-Atlantic, and Southeastestates and the District of Columbia.

Essent Group Ltd. is a Bermuda- based holding company that went public in 2013 and is traded on the New York Stock Exchange. Two primary operating companies: Essent Guaranty, Inc. and Essent Reinsurance Ltd.. Offers private mortgage insurance, reinsurance and title insurance and settlement services to serve the U.S. housing finance industry. Transformed…

The $28 million Hartford project involves the conversion of an annex in the office building at 242 Trumbull St., a 4- story structure which has its entrance off Pratt Street. Travelers, the property-casualty insurer, is a major employer in downtown Hartford. A major boost for a residence hall came in early 2023 when UConn surveyed students at the Hartford campus…

LAFAYETTE— Corey Rabeaux knows his house is always at risk of flooding. The federal government, which manages the National Flood Insurance Program, joined Lafayette Parish in offering Rabeaux a free home elevation, the main fix the nation has for flood-prone properties. And a new federal plan for setting flood insurance rates had taken effect, raising his…

AM Best will participate in a panel discussion about the U.S. title insurance industry during a Pinnacle Actuarial Resources APEX webinar, scheduled for Tuesday, Nov. 5, 2024. Kourtnie Beckwith, senior financial analyst, AM Best, will provide key insights on the U.S. title insurance industry. Joining Beckwith on the webinar is Art Randolph, principal and…

AM Best has downgraded the Financial Strength Rating to A+ from A++ and the Long-Term Issuer Credit Ratings to“ aa” from“ aa+” of Auto-Owners Insurance Company and its four wholly owned property/casualty companies that comprise Auto-Owners Insurance Group. At the same time, AM Best has upgraded the Long-Term ICRs to“ a+” from“ a” and affirmed the FSR of A of California…

Yet climate issues have yet to take center stage in an election, even in Florida, the state most affected by climate change. Rick Scott, known for his aversion to speak about climate change, to address the issue in an interview with CNN. Colin Polsky, a climate social scientist at Florida Atlantic University, also found that, in a survey conducted shortly before…

The Texas Department of Insurance has denied a petition by the Texas Windstorm Insurance Association to increase policyholder rates by 10%. Public comments showed a rate increase "would be unjust and unfair because of the hardships a rate increase would impose on the coast," Texas Department of Insurance Commissioner Cassie Brown wrote in the department's…

As of October, Idaho homeowners have seen a 17% rise in premiums in 2024, according to Insurify's analysis of home insurance data. The state's population increased by nearly 10% between 2019 and 2023, with an influx of new residents from California, Oregon, Washington, and Utah, according to the U.S. Census Bureau. Idaho home insurance rates have increased by 17%…

Iowa home insurance rates, on average, had a double-digit increase this year due to persisting damages from derechos and inflation. According to the report, premiums for Iowa homeowners increased 14% from October 2023 to 2024, with the average homeowner now spending $2,416 annually. In 2020, Iowa was one of several Midwest states hit by a derecho that the…

Yet climate issues have yet to take center stage in an election, even in Florida, the state most affected by climate change. Rick Scott, known for his aversion to speak about climate change, to address the issue in an interview with CNN. Colin Polsky, a climate social scientist at Florida Atlantic University, also found that, in a survey conducted shortly before…

WFG National Title Insurance Company allegedly failed to reimburse employees for required business expenses. SONOMA, Calif., Oct. 30, 2024/ PRNewswire-PRWeb/– The San Francisco employment law attorneys, at Blumenthal Nordrehaug Bhowmik De Blouw LLP, filed a class action complaint alleging that WFG National Title Insurance Company violated the California…

It should be read in conjunction with the documents that the Company files with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934.. AXIS Capital Holdings Limited's underwriting operations are organized around its global underwriting platforms, AXIS Insurance and AXIS Re.

2024 OCT 30– By a News Reporter-Staff News Editor at NewsRx COVID-19 Daily– Current study results on Coronavirus- COVID-19 have been published. Our news journalists obtained a quote from the research from the University of Iowa,“ We use these two recent recessions to empirically examine the determinants and consequences of capital issuances by…

A bail bondsman ran a human trafficking scheme with female inmates in Florida by bailing them out and selling them to“ buyers” for sex acts, prosecutors said. Florida Attorney General Ashley Moody announced the charges Oct. 29 against Russell Bruce Moncrief, a 75- year-old man who operated Moncrief Bail Bonds. Moncrief is accused of bonding women out of jail in…

Viewers can now access highlights from the AM Best- hosted webinar, titled,“ Key Insights for the Road Ahead: Top 5 Auto Insurance Trends of 2023,” sponsored by LexisNexis Risk Solutions. Adam Pichon, senior vice president, global insurance analytics, LexisNexis Risk Solutions; and Tanner Sheehan, vice president& general manager, U.S. claims, LexisNexis Risk…

The owner of a Central Florida bail bonds company was arrested on human trafficking and racketeering charges Tuesday after allegedly coercing women to have sex with him in exchange for getting bonded out of jail. The investigation began in October 2021 after Central Florida attorney John Gillespie was arrested on human trafficking charges and his victims…

Chubb Reports Third Quarter Per Share Net Income and Core Operating Income of $5.70 and $5.72, Up 15.2% and 15.6%, Respectively, with P&C Underwriting and Net Investment Income Both Up Double-Digit; Global P&C and Life Insurance Net Premiums Written were Up 8.5% and 10.6%, in Constant Dollars. Overseas General was up 4.9%, or 7.5% in constant dollars, with growth…