Property and Casualty News

AM Best has affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa-” of the pooled members of Selective Insurance Group. Additionally, AM Best has affirmed the Long-Term ICR of“ a-” and the Long-Term Issue Credit Ratings of the ultimate parent, Selective Insurance Group, Inc.. In addition, AM Best has assigned a Long-Term IR of“ a-” to…

A Navy admiral told lawmakers Thursday that there was no“ kill them all” order from Defense Secretary Pete Hegseth, but grave questions and concerns remain as Congress scrutinizes an attack that killed two survivors of an initial strike on an alleged drug boat in international waters near Venezuela. While Cotton, R- Ark., defended the attack, Democrats who were…

Information Services Group, a global AI-centered technology research and advisory firm, has launched a research study examining service providers that help insurers implement and enhance the Duck Creek property and casualty insurance platform. The report will cover companies offering Duck Creek ecosystem services. Duck Creek provides a cloud-based…

The following information was released by the National Association of Insurance Commissioners:. The National Association of Insurance Commissioners and theNational Insurance Crime Bureau share how you can keep your identity safe and the role insurance plays in your protection and recovery. In 2024, the Federal Trade Commission received nearly 10% more…

ALLIANCE, Neb.– The Federal Emergency Management Agency is currently undergoing a mapping project in Box Butte County, Nebraska to provide up-to-date flood risk information for the county. The open house is scheduled for Thursday, Dec. 18, from 4 p.m.– 6 p.m. The open house will be held at the Knight Museum and Sandhills Center, located at 908 Yellowstone Ave, Alliance,…

Auto insurance shocker: Simple bumper dings now require expensive sensor recalibration. The automotive past is often recalled fondly. A fender bender was a nuisance, certainly, but the required repair was relatively predictable.

MGT, a vertically AI-native neo-insurer built to modernize P&C commercial insurance for small businesses and their agents, today announced the addition of two strategic hires to its leadership team: Naydia Chantarasompoth has been named as Chief of Staff, and Annie Pratt has been appointed as Head of Growth Operations. “As MGT continues to scale, we’ re…

It comes out to an extra $3,435 per year, according to Insurify data. The average annual cost of full-coverage insurance for teen drivers on their own policy is $4,514. Maryland, Washington, D.C., and New York are the most expensive places for car insurance for teens, whether on their own policy or on a family policy, according to Insurify data.For teen drivers with an…

The Michigan Department of Insurance and Financial Services released a report analyzing the impact of the state's bipartisan 2019 auto insurance reform completed by Milliman, Inc. at the direction of the Legislature. In May 2019, Governor Whitmer signed the historic auto insurance reform aimed at lowering costs for Michigan drivers, preserving the…

Companies offering commercial, health and life insurance were posting ever higher pre-tax operating gains, but not those in the auto and home insurance segments, said Robert Passmore of the American Property Casualty Insurance Association. Data he presented to a special committee of the House of Representatives showed industry gains in that“ personal”…

Secretary of Defense Pete Hegseth on Tuesday defended the secondary strike on an alleged drug boat in the Caribbean Sea, citing the“ fog of war” as reason for his not seeing any survivors in the water when the strike was ordered and launched. Hegseth’ s comments came during a cabinet meeting hosted by President Donald Trump the day after the administration…

The following information was released by Consumers Union:. The petition urges insurersincluding State Farm, Allstate, USAA, Liberty Mutual, and Farmersto adopt CR's Homeowners Insurance Bill of Rights, a set of nine baseline consumer protections developed with input from insurance experts, academics, and homeowners across the country.

Mississippi has the highest rate of car crash fatalities in the United States, a recent study found. The study by King Stahlman Bail Bonds, a San Diego- based bail bond company, analyzed National Highway Traffic Safety Administration data from the latest five years to find where deadly car crashes are most common and what factors are most often seen in these types…

The nation’ s auto and home insurance providers have spent the past decade encouraging customers to submit claims and manage the estimate and status updates through their mobile apps and websites. According to the J.D. Power 2025 U.S. “Across the insurance claims workflow, from first notice of loss to the estimate and ongoing status updates, customer…

The following information was released by FEMA:. New flood maps have been finalized and will become effective on May 26, 2026, for Shelby County, Texas. Residents with federally backed mortgages must have flood insurance if their structures are in the Special Flood Hazard Area.

REGIONAL– Recent testimony from a New York State Senate hearing revealed the rapidly shifting nature of the home insurance market in New York and nationwide. Although New York is currently outside the top 20 most expensive states for home insurance, costs are rising due to inflation, flawed risk modeling, intensifying natural disasters, and more.

FINDLAY— The Hancock County Fair Board neglected to pay a $46,000 liability insurance premium on time, a lapse that raised concern among county commissioners about potential legal exposure. At the Nov. 20 meeting of the Hancock County Board of Commissioners, Commissioner Jeff Hunker said he had received a call from an insurance agent asking Hunker for help…

AM Best is revising its market segment outlook for the U.S. homeowners’ insurance segment to stable from negative, citing moderating premium growth and enhanced catastrophe risk management practices amid improved property reinsurance market dynamics. The Best’ s Market Segment Report,“ Market Segment Outlook: US Homeowners,” states that despite elevated…