The U.S. property/casualty insurance sector should see small improvements in underwriting profits in 2019 and 2020, thanks largely to commercial lines price increases, Fitch Ratings predicts in a new report. But personal auto and workers’ compensation will be two lines …
Portland has agreed to pay $350,000 in attorneys’ fees related to a now-repealed policy that mandated warning signs on brittle brick buildings saying they are seismically unsafe. The Portland City Council voted 4-0 in mid-November to pay the fees for …
The tech-enabled high-end home insurance provider Openly has begun selling in Illinois and Arizona at the same time it announced a $7.65M seed round of funding led by Gradient Ventures, Google’s AI-focused venture fund. Openly’s first product is a homeowners …
Los Angeles police say they’ve cited a Lyft driver for misdemeanor battery after video showed him dragging a passenger out of a car. Alessandra Ward says she suffered a black eye, bruises and a possible concussion after the man pulled …
Washington Insurance Commissioner Mike Kreidler took disciplinary action in October against insurance companies, agents and brokers who violated state insurance regulations. A summary of cases is below. Insurance companies UnitedHealthcare of Washington, Seattle; fined $30,000 Kreidler fined the health insurer …
The price of workers’ compensation insurance is dropping in Washington for the third consecutive year. The Washington Department of Labor & Industries in late November announced a 0.8% decrease in the average amount employers will pay for the coverage in …
Data has always played an important role in the insurance industry. From actuarial analysis and risk predictions to pricing, insurance is grounded in using available information to understand the probability of certain events. However, as the industry advances further into …
Some insurance carriers grow but do not create value. Others shrink but still create value. Some fail at both. Then there are the “intelligent growers” — those that succeed at both, not only growing but also creating value. Intelligent growers …
You’ve spent good money attracting, hiring and training great employees. The result is a highly productive staff. From understanding complex insurance products to helping customers make informed decisions, employee skills are income-producing assets for your agency. But what happens when …
Underwriters Search for ‘New’ and ‘High Risk’ Spaces to Target Fueled by investments from insurtechs and interest in niche classes, the program business market has experienced record growth over the last couple years. But the heavy competition is also forcing …
