Last week’s devastating storm in Houston is costing many homeowners big bucks in damages.
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Maritime Losses Decline But Industry Faces Unprecedented Challenges, Allianz Report Warns
The global shipping industry has seen a significant reduction in the number of vessel losses, but faces increasing volatility from geopolitical events, climate change, and the trend towards larger vessels, according to marine insurer Allianz Commercial.
Homeowners Insurers’ Net Combined Ratio Surges Past 110%
The US homeowners insurance industry posted its worst underwriting results in over a decade in 2023 as its net combined ratio surpassed 110.0%.
Biden Overtime Pay Rule Challenged by U.S. Business Groups
A coalition of U.S. business groups has filed a lawsuit seeking to block a Biden administration rule that would extend mandatory overtime pay to 4 million workers, saying it goes too far.
Host of Florida Property Insurance Regulatory Changes Kicking In
Surplus lines carriers can start taking out secondary home policies from Citizens Property Insurance Corp. on July 1, under a bill signed by Florida Gov. Ron DeSantis.
DOJ Sues to Break Up Live Nation-Ticketmaster
The Justice Department and more than two dozen states sued Live Nation on Thursday, alleging the entertainment giant has a monopoly in ticketing and concert promotion and should be broken up.
Agent, Broker Organic Growth Slows in Q1 2024
The independent insurance agent and broker channel tallied an 8.4% organic growth rate for Q1 2024 — the lowest rate of growth in 11 straight quarters according to Reagan Consulting’s quarterly Growth & Profitability Survey (GPS).
Growing MGA Market Deserves More Oversight: AM Best
Global credit ratings agency AM Best is maintaining a positive outlook on the delegated underwriting authority enterprise (DUAE) market, citing sustained global growth and momentum, as well as the market’s ability to cater to underserved and emerging risks.
CA Supreme Court Hears Case on Law Classifying App-Based Drivers As Contractors
The California Supreme Court is considering a case that could have massive ramifications for Bay Area-based ride-hailing companies and their workers.
Auto Insurer Websites and Apps Become Primary Driver of New Customers, Putting Pressure on Digital Experience, J.D. Power Finds
With auto insurance rates higher than ever and more consumers in the market shopping for policies than ever before, digital channels have become a critical component to the overall auto insurance shopping and service experience.