The U.S. commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting results, according to a new AM Best report. A new Best’s Market Segment Report, titled, “U.S. Commercial Auto Writers: Profitability Remains Elusive,” states that… Continue reading Business Auto Insurance Segment Records Decade-Worst Underwriting Loss in 2019: Best
Tag: commercial auto
Average Renewal Rates Experience Downward Turn Across All Major Commercial Lines Month Over Month
IVANS®, a division of Applied Systems®, today announced the May results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business saw an increase in average premium renewal rate, except Workers’ Compensation, which experienced a negative change in premium. Month over month, May premium renewal rates decreased… Continue reading Average Renewal Rates Experience Downward Turn Across All Major Commercial Lines Month Over Month
Average April Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the April results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation, which saw a decrease in premium. Month over month, April premium renewal rates experienced a… Continue reading Average April Renewal Rates Experience Uptick Across Nearly All Major Commercial Lines
Average Commercial Premium Renewal Rates Experience Positive Changes Month to Month: IVANS
IVANS®, a division of Applied Systems®, announced the Q1 2020 results of the IVANS Index™, the insurance industry’s premium renewal rate index. Q1 results showed an increase premium renewal rate change average across nearly all major commercial lines of business, including Commercial Auto, Business Owner’s Policy, General Liability, Umbrella, and Commercial Property compared to Q4;… Continue reading Average Commercial Premium Renewal Rates Experience Positive Changes Month to Month: IVANS
Average Renewal Rates Change Month to Month Across Most Major Commercial Lines
IVANS®, a division of Applied Systems®, today announced the January results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, nearly all lines of business experienced an increase in average premium renewal rate, except Workers’ Compensation, which saw a negative turn. Month over month, January premium renewal rates experienced variable… Continue reading Average Renewal Rates Change Month to Month Across Most Major Commercial Lines
Insurance Renewals Experience Uptick Across Nearly All Major Commercial Lines Products
IVANS®, a division of Applied Systems®, today announced the results for Q4 and year-end 2019 IVANS Index™, the insurance industry’s premium renewal rate index. Q4 results showed an increase premium renewal rate change average across Commercial Auto, Business Owner’s Policy, General Liability, Umbrella, and Commercial Property compared to Q3; however, Workers’ Compensation average premium renewal… Continue reading Insurance Renewals Experience Uptick Across Nearly All Major Commercial Lines Products
Premium Renewal Rates Continue Upward Trend Across Half of Commercial Products
IVANS®, a division of Applied Systems®, today announced the October results of the IVANS Index™, the insurance industry’s premium renewal rate index. Year over year, all lines of business, except Workers’ Compensation, experienced an increase in average premium renewal rate. Month over month, October experienced an uptick in premium renewal rate change across half of… Continue reading Premium Renewal Rates Continue Upward Trend Across Half of Commercial Products
Premium Renewal Rates Experience Upward Trend Across Nearly All Major Commercial Lines: IVANS
IVANS®, a division of Applied Systems®, today announced the August results of the IVANS Index™, the insurance industry’s premium renewal rate index. Month over month, August experienced an uptick across nearly all of the commercial lines products, except Business Owners Policy which experienced a slight negative change. Year over year, all lines of business experienced… Continue reading Premium Renewal Rates Experience Upward Trend Across Nearly All Major Commercial Lines: IVANS
Brazil Insurer Sul America Sells Units to Allianz
Brazilian insurer Sul America SA has sold its auto unit and other parts of its business to Germany’s Allianz SE for 3 billion reais ($734 million), it said in a filing on Friday. Last month, Sul America said Allianz had made a non-binding offer for its property and casualty (P&C) and auto units, and that… Continue reading Brazil Insurer Sul America Sells Units to Allianz
Renewal Rates Experience Year-Over-Year Increase Across Nearly All Major Commercial Lines Products
IVANS, a division of Applied Systems, announced the results for Q2 2019 IVANS Index, the insurance industry’s premium renewal rate index. Year over year, Commercial Auto, Business Owner’s Policy, General Liability, Umbrella and Commercial Property all experienced increases in average premium renewal rate change; Workers’ Compensation remains in negative territory. Quarter over quarter, there was… Continue reading Renewal Rates Experience Year-Over-Year Increase Across Nearly All Major Commercial Lines Products