IVANS® today announced the February 2022 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business, except Workers’ Compensation, experienced an increase in average premium renewal rate. Month over month, premium renewal rates increased for lines of business including Business Owners’ Policy (BOP) and Workers’… Continue reading Majority of Commercial Lines of Business Remain Up Year Over Year: IVANS
Author: Farkas Laura
Iowa Bill Would Limit Home Insurance Appraisals After Natural Disasters
It’s unclear whether Iowa lawmakers will move forward with a bill that critics say will make it more difficult for homeowners to successfully file insurance claims for damage caused by natural disasters such as the tornadoes that swept through the state on Saturday. The bill would limit the appraisal process used in disputed claims to… Continue reading Iowa Bill Would Limit Home Insurance Appraisals After Natural Disasters
Blue Cross Blue Shield Owner Anthem Seeks to Rebrand to Elevance Health
Anthem Inc. intends to rebrand as Elevance Health Inc., with the goal of repositioning itself as a company with a broader portfolio and focus than its traditional business of health insurance. Anthem will need shareholder approval to make the change because it owns Blue Cross Blue Shield plans in 14 states. The election is set… Continue reading Blue Cross Blue Shield Owner Anthem Seeks to Rebrand to Elevance Health
Administration Restores California’s Power to Set Stringent Tailpipe Rules
The Biden administration restored California’s legal authority to set auto pollution and mileage rules that are stricter than federal standards on Wednesday, restoring a powerful climate policy that had been removed by former President Donald J. Trump. The reintroduction of one of California’s most powerful environmental prerogatives could have a significant impact on the types… Continue reading Administration Restores California’s Power to Set Stringent Tailpipe Rules
Boardrooms Yet to Fully Grasp ESG Risk
Many global firms are still failing to prioritize environmental, social, and governance (ESG) risks in the boardroom, which is creating worrying gaps in their evaluation and mitigation of these mounting hazards, according to research published by Marsh, the world’s leading insurance broker and risk advisor. Marsh’s report, Evaluating ESG and pandemic risk reporting trends: FTSE… Continue reading Boardrooms Yet to Fully Grasp ESG Risk
Transactional Insurance Demand Spikes Due to Robust M&A Activity
According to a new Marsh Specialty report, organizations around the world turned to transactional risk insurance in 2021 amid a record-breaking mergers and acquisitions (M&A) environment. Last year, the insurance broker and risk advisor placed a global transactional risk insurance limit of $81.1 billion. According to the report Transactional risk insurance 2021: Year in review,… Continue reading Transactional Insurance Demand Spikes Due to Robust M&A Activity
Officials: $1 Billion in Damages After Tornadoes Tore Through Central Iowa
Seven people were killed, including two children, when several tornadoes swept through central Iowa, destroying homes and knocking down trees and power lines in the state’s deadliest storm in more than a decade, authorities said. Emergency management officials in Madison County said four were injured and six people were killed Saturday when one tornado touched… Continue reading Officials: $1 Billion in Damages After Tornadoes Tore Through Central Iowa
SRI Report: 2021 Annuity Sales Highest Since the Great Recession
Investors wary of increased market volatility and growing inflation drove total U.S. annuity sales to the highest levels since 2008, and the third highest recorded in history, according to results from the Secure Retirement Institute (SRI) U.S. Individual Annuity Sales Survey. Total annuity sales were $254.6 billion in 2021, up 16% from 2020. In the… Continue reading SRI Report: 2021 Annuity Sales Highest Since the Great Recession
SEC to Propose Climate Risk Rule As Early As Wednesday, March 16
The U.S. Securities and Exchange Commission (SEC) plans to propose its landmark climate risk rule as early as next Wednesday, March 16, said two people familiar with the agency’s planning. One of the people, who spoke anonymously about private agency plans, said the Wall Street regulator is “committed” to issuing the proposal by month end.… Continue reading SEC to Propose Climate Risk Rule As Early As Wednesday, March 16
Zywave Reaches $11 Million Data Breach Lawsuit Settlement
Zywave Inc., a software provider for insurance companies, has agreed to pay $11 million to settle a class action alleging the companies failed to protect the personal information of over four million customers during a February 2021 security breach. Plaintiffs have moved for preliminary approval of the settlement, saying it fairly settles claims they brought… Continue reading Zywave Reaches $11 Million Data Breach Lawsuit Settlement