AM Best has revised its market segment outlook for the global reinsurance segment to positive from stable, citing robust profit margins along with higher attachment points and tighter terms and conditions that followed a period of drastic repricing.
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High Insurance Costs Threaten Affordable Housing
Overall, nearly one-third of affordable housing providers reported insurance increases of at least 25 percent, according to a survey conducted last fall by the National Leased Housing Association, whose members provide federally assisted rental housing through vehicles such as vouchers and tax credits.
DOXA Expands Mental Health and Wellness Presence with Acquisition of CPH Insurance
DOXA Insurance today announces the acquisition of CPH Insurance, a Chicago-based specialty managing general agent (MGA) providing professional liability products for mental health, allied health and healthcare professionals.
Brown & Brown Acquires Rollins Insurance—Family Business to Join ABL Group
Brown & Brown (Europe) Ltd has acquired 100% of the equity capital of T Oscar Rollins & Company Ltd, trading as Rollins Insurance Brokers.
Best’s Special Report: P/C Industry Turns Around Losses in Q1 2024, Records $9.3B Underwriting Gain
The U.S. property/casualty (P/C) industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, a significant improvement from the $8.5 billion loss recorded in the same prior-year period, according to a new AM Best report.
U.S. Insurance Personal Auto Recovering, Homeowners’ Volatility Continues
The U.S. personal insurance sector is positioned for improving underwriting performance in 2024 amid signs that the previous surge in claims severity from higher inflation and supply chain shortages has subsided, combined with rapid written premium growth from large rate increases, Fitch Ratings says.
NSM Insurance Group Acquires Strategic Underwriters International
NSM Insurance Group, a global specialty insurance provider with more than $1.8B in premium across 25+ niche insurance programs, today announced the completion of its acquisition of Strategic Underwriters International (SUI).
U.S. Clears Way for Antitrust Inquiries of Nvidia, Microsoft and OpenAI
Federal regulators have reached a deal that allows them to proceed with antitrust investigations into the dominant roles that Microsoft, OpenAI and Nvidia play in the artificial intelligence industry, in the strongest sign of how regulatory scrutiny into the powerful technology has escalated.
Tesla Hires Former Geico Exec to Bring Down Costs for Owners of Its Electric Cars
Tesla has hired 20-year insurance veteran Allen Laben as its head of strategic insurance partnerships, where he will work with carriers and collision shops to bring down the cost of insuring its cars.
Baby Reindeer’s Real-Life Martha Pursues Netflix with $170M Defamation & Negligence Suit
A Scottish woman who says it only took thousands of Reddit and TikTok users “a matter of days” to identify her as the inspiration behind a stalker in Netflix’s Baby Reindeer series has filed a $170 million defamation lawsuit against Netflix and the show’s creator, Richard Gadd.