SASSI®, the Salon and Spa Specialty Insurance Agency, today announced Crown Extension Studio has won the agency’s Salon Stars: Mental Wellness Champions Competition.
Author: Annie George
Largest U.S. Private Auto Insurers Boost Rates by Double Digits in 2023
The U.S. private auto insurance hard market solidified even more in 2023 as each of the 10 largest underwriters raised their premium rates by double digits, compounding substantial hikes in 2022, according to S&P Global Market Intelligence’s RateWatch application.
Appeals Court Overturns Liberty Mutual Win in Cyber Suit With Southwest Airlines
The 5th Circuit Court of Appeals has revived a complaint by Southwest Airlines over claims denied by Liberty Insurance Underwriters associated with a massive computer failure that disrupted travel for nearly a half-million people.
Allstate Reports Q4 Catastrophe Losses of $68 Million
Property and casualty insurer Allstate Corp reported catastrophe losses for the fourth quarter stood at $68 million before tax.
Sedgwick Highlights Insurance Industry Trends for 2024
Sedgwick introduced Connect 2024 list, which highlights major industry trends and issues that employers, carriers, brokers and risk management and human resources professionals should watch throughout the coming year.
Travelers’ Rising Premiums Help Insurer Grow Annual Profits
Insurance giant Travelers reported higher revenue and income in the most-recent quarter, helped by double-digit percentage increases in premiums for auto and home insurance.
Florida Committee Moves Bill to Increase Citizens’ Coverage Cap
The Florida Senate Banking and Insurance Committee has advanced a measure that would increase the maximum dwelling replacement value for homes covered by Citizens Property Insurance Corp. to $1 million from the current $700,000.
Gallagher Re: Insured Losses from Natural Catastrophes Estimated at $123 Billion
In 2023, the estimated total economic costs of direct physical damage and net-loss business interruption from global natural perils was $357 billion. The private insurance market and public insurance entities covered an estimated $123 billion of that total.
Inflation Boosts US P/C Insurers’ Reserve Risk in Casualty Lines
Fitch Ratings expects the U.S. property casualty insurance (p/c) industry to generate modest underwriting improvement in 2024, following poor auto insurance results and inordinate catastrophe losses in 2023.
New York Regulator Issues Proposed Regulations on Insurers Using AI
The New York Department of Financial Services has issued a circular letter setting expectations that any insurer using artificial intelligence systems must be able to establish those systems do not use data that could produce discriminatory outcomes.