The latest news, regulation and trends in property & casualty insurance.
Arson continues to be a serious economic crime in the U.S.
While advances in artificial intelligence have been slow to reach commercial P&C insurance, new trends in data augmentation could help pick up the pace, according to experts on a recent Insurtech Insights panel.
Louisiana Gov. Jeff Landry this week outlined proposals to lower state auto insurance premiums, which are among the highest in the nation.
General Indemnity Group is a leading holding company in the surety insurance sector that encompasses United Casualty& Surety Insurance Company and BOSS Bonds Insurance Agency. The company achieved total annual revenue of $23.9 million, a 35% increase from $17.7 million in 2023. “2024 has been a year of exceptional growth for GIG,” said Dave Herman, President of…
First Quarter 2025 Net Income per Diluted Share of $1.70 and Core Income per Diluted Share of $1.91. Exceptional underlying underwriting income of $1.583 billion pre-tax, up 32%. Consolidated combined ratio of 102.5%; and underlying combined ratio of 84.8%, a 2.9 point improvement. Catastrophe losses of $2.266 billion pre-tax, primarily driven by the January…
The Travelers Companies, Inc. today reported net income of $395 million, or $1.70 per diluted share, for the quarter ended March 31, 2025, compared to $1.123 billion, or $4.80 per diluted share, in the prior year quarter. Core income in the current quarter was $443 million, or $1.91 per diluted share, compared to $1.096 billion, or $4.69 per diluted share, in the prior…
—A consumer advocacy group filed a lawsuit this week to block insurers from charging California customers for $500 million in costs associated with the deadly Los Angeles fires.. California's insurance commission in February ordered insurers doing business in California to provide $1 billion to the FAIR Plan, the state's insurer of last resort, to help it pay…
The advocacy group Consumer Watchdog filed a lawsuit against the California Department of Insurance and its commissioner to stop potentially hundreds of millions of dollars in "surcharges" State Farm wants to charge homeowners in order to cover claims from January "s firestorms in the Los Angeles area. Also see: Why all California homeowners could be on the…
Arson continues to be a serious economic crime in the U.S.
Tort reform is back in the spotlight as Louisiana officials and lawmakers begin to spar once again over auto insurance and damage claims ahead of the 2025 legislative session. And as Louisiana continues to face an insurance crisis, officials are pushing for change across the industry. This year, auto insurance will be a top priority for the Louisiana…
Troy Carter, of New Orleans, and Cleo Fields, of Baton Rouge; Republican member Julia Letlow, whose northeast Louisiana- based district includes some neighborhoods in the Baton Rouge area; and GOP Rep. The House legislation is a companion to a similar measure filed by Louisiana's two U.S. Senators, both Republicans, Bill Cassidy, of Baton Rouge, and John N. Kennedy, of…
n2uitive, a leader in recorded statement lifecycle management solutions for the Property and Casualty insurance industry, has announced the launch of AI SummaryAssist™ and 1st Draft Transcripts, which demonstrated an immediate 30% productivity increase among adjusters during initial testing. SummaryAssist™ and 1st Draft Transcripts are designed for…
"Injury and death by gun-related accidents has increasingly become a problem in the U.S., and in New York State. In the wake of recent mass shooting incidents in Aurora, Colorado and Newtown, Connecticut, there has been a nationwide attention on gun control and public safety. The language referring to Aurora, Colorado and Newtown, Connecticut, directly references…
Tort reform is back in the spotlight as Louisiana officials and lawmakers begin to spar once again over auto insurance and damage claims ahead of the 2025 legislative session. And as Louisiana continues to face an insurance crisis, officials are pushing for change across the industry. This year, auto insurance will be a top priority for the Louisiana…
NASHVILLE— AAA is offering insurance advice and a word of caution for Tennessee residents who have suffered damage from recent tornadoes, high winds, severe weather and flooding across the state. "Once conditions are safe to do so, begin documenting damage and contact your insurance provider immediately," said Megan Cooper, spokesperson for AAA— The Auto Club…
The bill that backers hope will breathe new life into Colorado's condo construction market won a solid 6-1 vote from a Senate committee. The condo market all but died in 2010 after changes to property and casualty insurance drove those insurers out of the Colorado condo market. Ted Leighty of the Colorado Association of Homebuilders told the committee House…
Car insurance costs in Minnesota rose by 58% in 2024, the largest increase in any state, according to Insurify's auto insurance report. Minnesota wouldn't be the first state to propose a program aiming to increase the affordability and accessibility of car insurance. California, Hawaii, and New Jersey all have income-restricted auto insurance programs…
Florida legislators passed laws to reduce runaway home insurance costs a few years ago. But with four new bills at the state House that could undo those laws, Florida leaders can't seem to agree on the right way to lower Florida home insurance premiums. Previous law allowed only the plaintiff's attorney to recover legal fees, according to the Insurance…
Pawdarling, a premier pet insurance provider, is thrilled to announce its official launch. With a mission to ensure that every pet owner can find the best insurance coverage for their furry friends, Pawdarling specializes in offering top-rated pet insurance policies that provide the most comprehensive and cost-effective protection..
While advances in artificial intelligence have been slow to reach commercial P&C insurance, new trends in data augmentation could help pick up the pace, according to experts on a recent Insurtech Insights panel.
AM Best will host an analytical briefing on the state of the U.S. medical professional liability insurance sector on Tuesday, May 13, 2025, at 11 a.m.. The event will feature leading market executives and AM Best analysts will examine recent and prospective financial results and underwriting and loss trends, as well as health care regulatory developments.
When the Louisiana Legislature gathers Monday in the State Capitol, it will begin debate on contentious issues ranging from improving roads and bridges to embracing the "Make America Healthy Again" movement to reducing the cost of car insurance. Jeff Landry and legislative leaders in both the House and Senate are throwing their support behind an effort to…
California homeowners could soon see a sharp rise in insurance premiums as State Farm, the state's largest property insurer, seeks final approval for an emergency rate increase to address its wildfire-driven financial losses. In a petition filed in February, State Farm argued the emergency rate hike is necessary to offset the financial toll of the Los…
