The nationwide calculated weighted average premium rate increase for owner-occupied homeowners insurance was 11.3% through Dec. 29, 2023, according to S&P Global Market Intelligence’s RateWatch application. Key highlights from the analysis include: • In total, 25 states saw an effective rate change of at least 10% in 2023, compared to only six states during the […]
New Survey from Trusted Choice® Reveals Consumer Uncertainty
and Behavior on Insurance Coverage.
The Insurance Federation of New York (IFNY) gathered in full force on November 16th for its Annual Free Enterprise Award Luncheon at New York’s Union League Club, whereupon Mr Alan Schnitzer, Chairman of Travelers’ received IFNY’s prestigious award. QBE received the Mary Lanning Public Service Award for its programmes in climate control and DFS Superintendent […]
This report by Longevity Underwriting explores in detail the results of the TwentyFirst life settlement Actual-to- Expected data. Longevity Holdings is excited to report the details from TwentyFirst’s life settlement Actual-to-Expected report. In aggregate, the Actual-to-Expected ratio for the TwentyFirst (21st) LE business has been 103.5%, 103.8% and 100.8% for the 13-year, 10-year, and 5-year […]
This summer’s news of extended production cuts by Saudi Arabia and Russia, as well as an attack on key Russian oil export hubs by Ukraine and ongoing sanctions against Russia, has kept oil prices high. Combined with a growing backlash against green energy and overall losses within the sector tied to costs of energy transition, it’s not surprising that U.S. pricing trends continue to push upward. Social inflation and the rise in claims across the sector have also resulted in a heightened level of underwriting scrutiny and the ongoing need for adequate valuations.
Symington heads the association after serving as its executive vice president.
ALEXANDRIA, VA, September 1, 2023—Charles Symington is the new president & CEO of the Independent Insurance Agents & Brokers of America (the Big “I”), effective, Sept. 1.
Slow but steady growth, includes increase in homeowners market share.
The independent agent is holding his own showing slow, steady gains in lines of business penetration, including homeowners, according to the Big “I” 2023 Market Share Report.
The annual Market Share Report compiles and analyzes property and casualty premium data from AM Best and provides insights for agencies and carriers on current market shares by distribution types.
At the 39th Annual S&P Global Ratings Insurance Conference, the message from panelists was clear: the insurance industry remains well capitalized to withstand potential adverse market or economic developments.
Amwins releases the 2023 Insurance Trends report, which showcases the challenges of the ongoing hard market as well as rising inflation.
Amwins surveyed 303 brokers and agents about the top insurance trends and found that 97% of respondents shared that hard market conditions are impacting their book of business.
Mr. Leston Welsh has been named President of Shelterpoint, an important resource for agents and brokers.
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