The aggregated commercial price change reported by carriers was 5%, a slight decrease from 6% in the previous quarter.
Tag: commercial lines
Woodruff Sawyer: Property Rates Rise and the Cyber Market Improves: Q3 2022
According to an updated commercial lines report from insurance brokerage firm Woodruff Sawyer, the number and severity of named storms, as well as where and when they make landfall, will have an effect on property premiums for the rest of the year and into the following year.
USG Announces Hire of Amer in Tampa, FL
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Mike Amer, Producer/Broker: Commercial Lines, in the Tampa, FL Branch. Amer brings 17 years of insurance experience to the USG team, most recently with an admitted Carrier and regional wholesale MGA in the Southeast. As Producer/Broker: Commercial Lines at… Continue reading USG Announces Hire of Amer in Tampa, FL
Secondary Perils Taking an Increasingly Larger Share of U.S. Catastrophe Losses
According to an AM Best commentary, secondary peril events are becoming more impactful and generating an increasing amount of insured losses, affecting the bottom lines of personal and commercial lines property underwriters. A new Best’s Commentary, titled, “Secondary Perils Increasingly Responsible for Largest U.S. Catastrophes,” notes that although the trends of more frequent and harmful… Continue reading Secondary Perils Taking an Increasingly Larger Share of U.S. Catastrophe Losses
USG Announces Promotion of Capo in Covington, LA
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the promotion of Ron Capo to Producer/Broker: Commercial Lines in Covington, LA. Capo has been with USG since November of 2019 as an Associate Producer/Broker. In his new position as Producer/Broker: Commercial Lines, Ron will continue building his book of business and… Continue reading USG Announces Promotion of Capo in Covington, LA
USG Announces Hire of Burkhart in Canonsburg, PA
USG Insurance Services, Inc., a national wholesaler and MGA, is pleased to announce the hire of Michael Burkhart, Producer/Broker: Commercial Lines, in the Canonsburg, PA branch. Burkhart joins the USG team with 20 years of insurance experience in all facets of the industry, most recently with Good’s Insurance Agency. In his role of Producer/Broker: Commercial… Continue reading USG Announces Hire of Burkhart in Canonsburg, PA
InsurTech Corvus Raises $100M in Series C Financing
Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data, today announced it has secured $100 million in Series C funding in a round led by global venture capital and private equity firm Insight Partners, and including all of its previous institutional investors, increasing Corvus’s valuation to $750 million. This… Continue reading InsurTech Corvus Raises $100M in Series C Financing
WTW: Q2 2020 U.S. Commercial Insurance Prices Rise by Almost 10%
U.S. commercial insurance prices again grew significantly in the second quarter of 2020, according to Willis Towers Watson’s most recent Commercial Lines Insurance Pricing Survey (CLIPS). The survey compared prices charged on policies underwritten during the second quarter of 2020 to those charged for the same coverage during the same quarter in 2019. The aggregate… Continue reading WTW: Q2 2020 U.S. Commercial Insurance Prices Rise by Almost 10%
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