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 analysis by global data analytics and technology provider Verisk …
The U.S. Treasury late last week backed off a plan to have the Federal Insurance Office (FIO) collect data on climate-related risks from property/casualty insurers—an outcome that had been sought by the insurance industry since the proposal was published in …
The Smokehouse Creek Fire has grown to more than 1 million acres in the Texas Panhandle, making it the second-largest wildfire in state history. The fire is 3% contained as of Thursday morning according to officials with the Texas A&M …
As personal property owners face issues related to rising frequency and severity of natural catastrophes, a survey has found many do not have money or know where to start in order to mitigate damages. The American Property Casualty Insurance Association …
A new paper by the American Property Casualty Insurance Association (APCIA) finds that the insurance industry is responding to the needs of the transportation sector as the momentum for electric vehicles (EVs), plug-in hybrids (PHEVs) and other low- and zero-emission …
In support of recent efforts at the state and federal levels of government to curtail third-party litigation funding, the American Property Casualty Insurance Association has asked the House Committee on Oversight and Accountability to consider disclosures. “As insurance protecting civil …
The American Property Casualty Insurance Association (APCIA) and the Reinsurance Association of American together presented testimony in Washington today on the state of of the property insurance market. The presentation, “Perspectives on Challenges in the Property Insurance Market and the …
Federal legislation introduced last week that would require insurance companies with more than $100 million in annual premiums to disclose investments and underwritings related to coal, oil and gas projects, and fossil fuels is already required at the state level …
Insurance claims inflation has risen faster than the underlying consumer price index (CPI), outpacing auto insurance premium increases, according to a new study, Auto Insurance: The Uncertain Road Ahead, by the American Property Casualty Insurance Association (APCIA). The national trade …
Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property Casualty Insurance Association (APCIA). The industry recorded a net underwriting loss …
