Net income for the private U.S. property/casualty insurance industry dropped 26% in the first half of 2020, as the effects of COVID-19 began to hurt insurer underwriting results and investment gains, according to Verisk, a leading data analytics provider, and the American Property Casualty Insurance Association (APCIA). Net income after taxes fell to $24.3 billion… Continue reading P/C Insurers Report a 26% Drop in Net Income in First-Half 2020
Tag: APCIA
APCIA Voices Opposition to California’s Proposed Changes that Could Eliminate Affinity Group Discount Programs
The American Property Casualty Insurance Association (APCIA) on Tuesday testified in opposition to draft regulations that could eliminate many affinity group insurance discount programs during a pre-notice workshop held by the California Department of Insurance (CDI) in Los Angeles. “We share CDI’s goal of helping low-income Californians have access to lower auto insurance rates, but… Continue reading APCIA Voices Opposition to California’s Proposed Changes that Could Eliminate Affinity Group Discount Programs