The 2022 net combined ratio for the property/casualty insurance industry was 102.4, with underwriting losses for personal lines partially offset by underwriting gains for commercial lines.
Tag: personal lines
Closing the Personal P&C Protection Gap: McKinsey Global Insurance Report
A growing protection gap in both developed and developing countries indicates that insurers struggle to design products fit for the evolving and emerging risks that modern personal-lines consumers demand.
Embedded Insurance Distribution Could Exceed $70 Billion in Premium in the U.S. by 2030
Embedded insurances could make significant inroads into both personal lines and small commercial insurance business, exceeding $70 billion in premium by 2030,
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
Liberty Company Insurance Brokers Announces New Partnership with The Perzel Agency
The Perzel Agency is now a member of The Liberty Company Network of Insurance Brokers. Based in Philadelphia, The Perzel Agency was founded over 25 years ago by Mike Perzel, specializing in personal lines and small commercial. Operating on a philosophy of “The Golden Rule,” and treating everyone the way you wish to be treated,… Continue reading Liberty Company Insurance Brokers Announces New Partnership with The Perzel Agency
Arrowhead Refreshes Brand Identity to Reflect ‘Innovation’ Focus
Arrowhead General Insurance Agency Inc. (Arrowhead) today introduces its new brand identity, reflecting a commitment to leading technology innovation and significant growth for the national program administrator. The changes come at a time when Arrowhead has added new commercial programs, enhanced its insurance offerings and expanded its U.S. footprint. “Arrowhead leverages technology to pioneer innovative… Continue reading Arrowhead Refreshes Brand Identity to Reflect ‘Innovation’ Focus
Donegal Mutual Exits Personal Lines Insurance Business in 7 States
Donegal Mutual Insurance Co. said Monday it is exiting the personal lines insurance business in seven states. Marietta-based Donegal said it is transferring its personal lines business in Alabama, Maine, Nebraska, New Hampshire, North Carolina, South Carolina and South Dakota to Safeco Insurance. Financial terms were not disclosed, nor was Donegal’s number of personal lines… Continue reading Donegal Mutual Exits Personal Lines Insurance Business in 7 States
Do Amazon and Google Pose a Threat to Homeowners Carriers?
Amazon has made no secret of its intent to disrupt virtually every industry on the planet, most recently announcing a partnership with JPMorgan Chase and Berkshire Hathaway to create an independent healthcare company. Reportedly, the retail giant has also begun to explore the idea of setting up an insurance price comparison site in the UK.… Continue reading Do Amazon and Google Pose a Threat to Homeowners Carriers?
Motor Vehicle Deaths Remain Stable in First Half of 2018
Preliminary estimates from the National Safety Council indicate the recent upward trend in motor vehicle deaths has continued its leveling off, with the number of fatalities in the first six months of 2018 dipping just slightly – less than 0.5 percent – from six-month 2017 estimates. Approximately 18,720 people died on U.S. roadways between January… Continue reading Motor Vehicle Deaths Remain Stable in First Half of 2018