Property and Casualty News

Georgia’ s personal auto insurance affordability has deteriorated in recent years, climbing the ranks of least affordable states over the past decade and a half, according to the new report Personal Auto Insurance Affordability in Georgia, by the Insurance Research Council, a division of The Institutes. Georgia ranked 47 th in terms of auto insurance…

Insurity, the leading provider of cloud software for insurance carriers, brokers, and MGAs, today announced findings from its 2024 Severe Weather P&C Consumer Pulse survey, which gauges consumers’ opinions on severe weather and how it will impact their insurance coverage. Despite nearly half of Americans reporting they are confident in their current…

AS OF JUNE 30, 2024. STATEMENT AS OF JUNE 30, 2024 OF THE THE CONTINENTAL INSURANCE COMPANY. STATEMENT AS OF JUNE 30, 2024 OF THE THE CONTINENTAL INSURANCE COMPANY.

AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A+ and the Long-Term Issuer Credit Ratings of“ aa-” of the property/casualty members of Erie Insurance Group. Erie Insurance Exchange is the lead company of Erie; the remainder of the P/C group is composed of inter-company pooling members, Erie Insurance…

Video above: Sarasota flooding from Hurricane Debby. In a prepared statement, Scott said becoming a homeowner is out of reach for families, blaming the Biden-Harris Administration for property insurance costs, interest rates and inflation. Scott's announcement comes at a time when many homeowners, especially in Sarasota and Manatee counties, are evaluating…

Cars weaving through traffic at 90 mph beneath billboards touting personal injury lawyers are a fact of life in much of Connecticut in 2024– as is sharing the road with a growing fleet of electric cars and other high-tech vehicles. Experts say you can blame those three factors for much of the spike in auto insurance premiums in Connecticut this year: Dangerous…

Aug. 5— Cars weaving through traffic at 90 miles an hour beneath billboards touting personal injury lawyers are a fact of life in much of Connecticut in 2024— as is sharing the road with a growing fleet of electric cars and other high-tech vehicles. Experts say you can blame those three factors for much of the spike in auto insurance premiums in Connecticut this…

holding company for two P&C carriers: American Coastal Insurance Company and Interboro Insurance Company ¹ along with other operating affiliates. Q2-24 Results Non-GAAP Core Income of $19.6 m decreased- $7.5 m from $27.1 m y/y on higher ceded earned premiums resulting from the 40% gross CAT quota share effective 6.1. 2023. Gross premiums earned grew $5.6 m to…

Colorado residents may find their summer vacations a bit more relaxing this year. Jared Polis in April, applies to travel insurance that covers Colorado residents and any travel insurance company doing business in the state. Colorado's legislation largely follows a travel insurance model proposed by the National Association of Insurance Commissioners.

1 Included in this amount is $2 million in after-tax net losses to adjust equity securities that the Company continued to own at June 30, 2024, to fair value. Total carrying value of AFG's investment portfolio at June 30, 2024= $15.3 billion P&C net investment income down 1% YOY; up 15% excluding alternative investments second quarter 2024 annualized retuof…

For the six months ended 30 June 2024. Insurance contract written premium grew by $89.6 million or 3.3% to $2,812.9 million with sustained retail growth and additional capital deployed in big-ticket property. Profit before tax grew 7.1%, to $283.5 million, underpinned by: insurance service result of $240.7 million; o investment result of $152.4 million….

Embroker, the digital insurance company radically simplifying the insurance buying experience for businesses, today announced the appointment of Andrew Lea as Chief Insurance Officer and the promotion of Kristy Malm to Chief Operating Officer. From left to right: Andrew Lea, Kristy Malm. "I am deeply committed to working with Embroker’ s talented team of…

A tidal wave of home and auto insurance premium increases in Connecticut is sparking a surge of complaints to state regulators and prompting an outcry on social media as consumers work to sort out double-digit hikes in their policy renewals. Insurance Commissioner Andrew N. Mais acknowledged the sticker shock accompanying policy renewals in Connecticut.

Porch Group, Inc., a homeowners insurance and vertical software platform, today reported second quarter results through June 30, 2024, with total revenue of $110.8 million, which increased 12% compared to the prior year. GAAP net loss was $64.3 million, an improvement of $22.6 million compared to the prior year, and Adjusted EBITDA Loss was $34.8 million, an…

Porch Group, Inc., a homeowners insurance and vertical software platform, today announced it has filed a new and updated application to form and license a Texas reciprocal insurance exchange with the Texas Department of Insurance. If approved and fully implemented as proposed, Homeowners of America Insurance Company, Porch’ s homeowners insurance carrier,…

Insurity, the leading provider of cloud software for insurance carriers, brokers, and MGAs, today announced findings from its 2024 Severe Weather P&C Consumer Pulse survey, detailing consumers’ opinions on severe weather and how it will impact their insurance coverage. The survey uncovered a growing unease among consumers regarding the adequacy of their P&C…

Aug. 5— Cars weaving through traffic at 90 miles an hour beneath billboards touting personal injury lawyers are a fact of life in much of Connecticut in 2024— as is sharing the road with a growing fleet of electric cars and other high-tech vehicles. Experts say you can blame those three factors for much of the spike in auto insurance premiums in Connecticut this…

Pet Business International, the exclusive provider of instant online insurance quotes for small to medium-sized pet businesses, launches in the U.S. today. The expansion into the U.S. kicks off in the following 12 states: Arizona, Michigan, Minnesota, New Jersey, Connecticut, Florida, Iowa, Illinois, Indiana, Tennessee, Texas, and Utah. Founded in the U.K. in 2000, PBl is…

With real estate fraud and forgery at an all-time high, Doma Title Insurance, Inc., the nation’ s 8th largest title insurer, has partnered with Intellicheck, an industry leader in digital and physical identity validation solutions, to offer Doma’ s independent title agents and approved attorneys a tool to detect seller impersonation. “Doma agents are on the front…

Bowhead Specialty Holdings Inc., a growing specialty lines insurance group focused on providing casualty, professional liability and healthcare liability insurance products, today announced financial results for the second quarter ended June 30, 2024*. Gross written premiums increased 50.4% to $175.5 million. Net income of $5.5 million, or $0.20 per…