Latest Commercial Lines Headlines
All the headlines from our Commercial Lines Topic Page, ordered by recency.
People Moves: Grange Insurance Names Welch VP, Commercial Lines Underwriting
Feb 8 2024 // Grange Insurance Company, headquartered in Columbus, Ohio, named Kyle Welch vice president of commercial lines underwriting for the East region covering Georgia, Indiana, Kentucky, Ohio, Pennsylvania, Tennessee and...
Marsh: ‘Stable’ Q4 Commercial Rate Increase of 2%
Feb 5 2024 // Broker Marsh said global commercial insurance rates increased by 2% at renewal in the fourth quarter of 2023, marking the 25th straight quarter of rate increases. “At a time of much global economic uncertainty,...
Marsh: US Commercial Lines Rates Up 3% in Q4 2023
Feb 5 2024 // Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates. The Marsh Global Insurance Market Index said it was the 25th...
Cyber Threats Top Global Business Risk Concern for 2024: Allianz
Feb 5 2024 // Cyber-related incidents such as ransomware attacks, data breaches and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. Business interruption ranked second, while...
Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best
Feb 1 2024 // The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7 and personal lines at 109.9, according to the latest underwriting projections by actuaries at the...
State Troopers Arrested for Alleged Commercial Driver’s License Bribery Scam
Jan 31 2024 // Two current and two former Massachusetts State Police troopers are among six charged in connection with an alleged conspiracy to give passing scores to certain Commercial Driver’s License (CDL) applicants, including...
Markets/Coverages: Insurtech BOXX Partners With AXA to Offer Cyber Risk Mitigation for Small Businesses
Jan 30 2024 // BOXX Insurance, the Toronto-based cyber insurtech and managing general agent, has announced the launch of a cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small...
Georgia Bill Would Require Wind-Mit Premium Discounts for Commercial Properties
Jan 26 2024 // Property insurers in Georgia would be required to provide premium discounts for not only residential, but also for commercial structures that are built or retrofitted to resist wind damage, if a bill approved by a Senate...
Compared to Prior Quarter, All Commercial Lines Saw Renewal Rate Up in Q4: Ivans
Jan 24 2024 // Ivans Index found the average premium renewal rate increased year-over year for all major commercial lines except workers’ compensation, but every line of business averaged rate increases at renewal during the last...
The Hartford to Start Offering Vermont’s Family Leave Insurance Program for Employers
Jan 23 2024 // The Hartford will begin offering the Vermont Family and Medical Leave Insurance (FMLI) program for employers on February 15. Employers with two or more employees will have the opportunity to work withe the insurer’s...
Workplace Stress
Jan 22 2024 // Work-related stress and worker burnout is a critical topic in today’s talent market as nearly every insurance organization across the nation competes to fill open positions. But stress at work has reached epidemic...
People Moves: Guy Carpenter Names Wolfe Chief Commercial Officer, N. A.; Verisk Forms Claims Advisory Board; Chamberlain to Lead DUAL Specialty Healthcare
Jan 17 2024 // Guy Carpenter appointed Keith Wolfe to the newly created role of chief commercial officer, North America, effective immediately. Wolfe joins Guy Carpenter after 27 years with Swiss Re and its predecessor companies, where...
Cyber Threats Top Global Business Risk Concern for 2024: Allianz
Jan 17 2024 // Cyber-related incidents such as ransomware attacks, data breaches and IT disruptions are the biggest worry for companies globally in 2024, according to the Allianz Risk Barometer. Business interruption ranked second, while...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
Jan 16 2024 // A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate...
Ex UK Goldman Sachs Manager Seeks $1.27M Over Harm From ‘Dysfunctional’ Workplace
Jan 12 2024 // A former senior Goldman Sachs manager is seeking around 1.0 million pounds ($1.27 million) from the Wall Street bank in London over allegations that bullying and a dysfunctional workplace destroyed his physical and...
People Moves: BHSI Taps Holding From Aviva to Lead UK Marine; Ardonagh Specialty Names Goldenberg as Global Commercial Dir.; Lockton Re Adds Yeo, Terry to Cyber Team
Jan 11 2024 // This edition of International People Moves details appointments at Berkshire Hathaway Specialty Insurance (BHSI), Ardonagh Specialty, and Lockton Re. A summary of these new hires and promotions follows here. BHSI Taps...
MarketScout: 2023 US Commercial Composite Rate Up 4.56%
Jan 10 2024 // According to the MarketScout Market Barometer, U.S. commercial property/casualty insurance rates rose 5.6% in the fourth quarter of 2023, resulting in a total composite rate increase of 4.56% for the whole of...
NCCI: Shifting Workplace, Costs Are Top Concerns for Workers’ Comp Execs
Jan 10 2024 // A new survey finds ratings data, changes in the workplace and workforce, medical inflation and economic uncertainty are top of mind concerns for workers’ compensation insurance executives. The National Council on...
People Moves: Gallagher Taps AIG’s Loesti as Chief Commercial Officer of European Broking; QBE Re Promotes 3 Global Product Heads in New York, London
Jan 5 2024 // Gallagher Taps AIG’s Loesti as Chief Commercial Officer, European Broking Nepomuk (Nepo) Loesti has joined Gallagher as chief commercial officer of its European broking operations. The newly created role will support...
US Workplace Stress at All Time High, Survey Says
Dec 28 2023 // Stress at work has reached epidemic proportions and shows little decline in 2023, according to the American Psychological Association’s “Work in America Survey: Workplaces as Engines of Psychological Health...
