Independent agents placed more than 62% of all property/casualty insurance written in the U.S., according to the Independent Insurance Agents & Brokers of America (the Big “I”). The association’s 2024 Market Share Report said independent agents have high penetration rates …
Dellwood Insurance Group has filed to dismiss a lawsuit against it by American International Group, who is using the court system “as a cudgel to crush a fledgling startup,” the new surplus insurer said. According to the motion filed last …
Zurich early Wednesday said it is purchasing the global personal travel insurance business of American International Group (AIG) for $600 million. The deal, according to Zurich, may include an additional payment if specific targets are met after the sale, which …
Dellwood Specialty Insurance Company has received a financial strength rating of A- (Excellent) from AM Best. The industry rating agency said the rating as given due to Dellwood’s “very strong” balance sheet strength as well as other factors such as …
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 outlook and report Monday, and said …
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses for May, with 70% attributable to five wind and hail events mostly …
An annual report from Chubb has revealed a couple of troubling trends for many businesses—the frequency and severity of large losses are up and companies are underestimating the amount of liability coverage they need. “The delta between liability loss-cost trend …
The leading pet insurer in the U.S. said it is dropping about 100,000 policies starting this spring, citing inflation in the cost of veterinary care. Nationwide Pet, the leading provider of pet insurance for dogs, cats, birds and exotic animals, …
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 letter sent to employees and other stakeholders, …
Attorneys general in 42 states said they finalized a $700 million settlement with Johnson & Johnson over the marketing of its talcum powder products. The settlement, announced in principle in January, resolves an investigation by the states and Washington D.C. …
