Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Jul 1 2024 // The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous...
Vertafore Report Highlights Agency Recruitment, Hard Market Challenges
Jun 28 2024 // Independent insurance agencies are struggling to find qualified job candidates, and nearly a third of agents surveyed for a recent Vertafore report said they’re finding that “young people just aren’t that...
As Rates Rise, Majority of Homeowners Say Insurance Industry Is in Crisis: Survey
Jun 28 2024 // Homeowners are cutting back on dining out, travel, groceries and even medication to afford their soaring property insurance premiums. One in 10 are considering relocating to an area with lower premiums. Within the last...
Cyber Insurance Market ‘Stable’ With Potential for Growth, Says AM Best
Jun 24 2024 // According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a ‘stable’ outlook despite a stall in premium growth. Analysts at AM Best issued a segment...
New Drivers and Electric-Vehicle Tech Bring New Risks to Auto Insurance Market
Jun 21 2024 // High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond,...
American National Exiting Homeowners Insurance Market
Jun 17 2024 // Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all states. According to a...
Analysis: Underwriting Loss Estimates Highlight Ongoing Challenges for US P/C Industry
Jun 14 2024 // The U.S. property/casualty market sustained an estimated $21.1 billion in underwriting losses in 2023, highlighting the challenges the industry faces as a result of natural catastrophes and inflation. According to joint...
Britam of Kenya Plans to Enter $5 Billion Congo Insurance Market
Jun 11 2024 // Britam Holdings Ltd. is hunting for opportunities to enter the massive but under-served insurance market in Democratic Republic of Congo later this year. Kenya’s biggest listed insurer by market value with operations...
US Auto Insurance Market on the Mend; Homeowners Line Volatile: Fitch
Jun 7 2024 // The U.S. personal insurance sector is positioned for improving underwriting performance in 2024. According to Fitch’s latest U.S. Personal Lines Market Update, the change is predicted amid signs that the previous...
Commercial Property Insurance Market Proving More Stable, Capitalized: USI
Jun 6 2024 // Following last year’s historically challenging property insurance market, 2024 is proving to be “a more stable and capitalized market,” USI Insurance Services reported in its latest Commercial Property...
American National Exiting Homeowners Insurance Market
May 31 2024 // Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all states. According to a...
Markets/Coverages: MGA OpenRoad Enters Collector Vehicle Insurance Market
May 21 2024 // Managing general agency Open Road Insurance announced its entry into the marketplace for collector vehicle auto insurance with its first license in Texas, and plans to launch in other U.S. states later this...
Markets/Coverages: Coalition Enters Excess Cyber Insurance Market in Australia
May 15 2024 // Coalition, the San Francisco-based cyber managing general agent and cyber-security firm, announced it entered the excess cyber insurance market in Australia, enabling businesses to add a layer of risk management to their...
Navigating Today’s Challenging Insurance Market: Leveraging Technology for Agencies
May 2 2024 // This post is part of a series sponsored by Dyad. In today’s rapidly evolving insurance landscape, agencies face many challenges. From increased competition to changing consumer expectations and staying ahead in this...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Apr 15 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
5 Strategies for Managing Carrier & Client Relationships in a Hard Market
Apr 15 2024 // As hard-market conditions continue to drive rate increases, independent agents face two challenges: explaining policy changes to their clients while continuing to nurture relationships with their carrier...
Viewpoint: Florida Insurance Market on the Mend
Apr 5 2024 // Almost one year ago, on May 31, 2023, Florida Gov. Ron DeSantis signed sweeping insurance reform legislation into law. At that time, the Florida insurance market was on life support. Homeowners’ insurance companies,...
Unlocking Success in the Insurance Industry: The Power of Account-Based Marketing
Apr 1 2024 // In the insurance industry, staying ahead of the competition requires innovative approaches to client acquisition and relationship management. One strategy gaining prominence is account-based marketing (ABM), a targeted and...
Insurance Industry Readies for Historic Losses From Baltimore Bridge Tragedy
Mar 29 2024 // It’s very early in the recovery process and already the numbers are large. Insured losses for the tragic collapse of the Francis Scott Key Bridge in Baltimore could be as much as $2 billion to $4 billion, according...
2023 Underwriting Losses Improve but Persist in US P/C Industry
Mar 26 2024 // The U.S. property/casualty insurance industry recorded a slight underwriting improvement in 2023, but losses persisted, according to a new AM Best report. Preliminary data from the global credit rating agency shows that...
