A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty Insurance Association says in a new white paper. “The growth of …
US auto insurers are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, the American Property and Casualty Insurance Association says in a …
Alan Schnitzer, chairman and CEO of The Travelers Companies, has been elected chair of the board of directors of the American Property Casualty Insurance Association (APCIA). Dino E. Robusto, chairman and CEO of CNA Financial Corporation was elected chair-elect at …
Shortly after Treasury’s Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate risk, the response from industry trade associations was, at best, tepid. “You don’t need a massive data collection to know …
Several insurance industry trade associations used the 30th anniversary of Hurricane Andrew – a storm that upended and transformed insurance and the manner in which communities prepare for natural disasters – to broadcast their conclusion that man-made threats are today …
Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021. The P/C industry posted a $5.2 billion underwriting gain in 2020 …
A new American Property Casualty Insurance Association (APCIA) survey of over 1,000 U.S. homeowners who have a homeowners insurance policy, reveals a majority of insured homeowners have not taken important steps to ensure their insurance coverage is keeping pace with …
The tornado that damaged more than more than 1,000 buildings in south-central Kansas generated winds up to 165 mph and carved a path of destruction nearly 13 miles long. The National Weather Service said the tornado that caused extensive damage …
Insurers are applauding a decision by the chief judge for the U.S. District Court in Delaware to require parties to disclose whether a litigation funder has an interest in any cases brought before him. The standing order issued on Monday …
Private property/casualty insurers in the U.S. saw their net income after taxes increase significantly in the first quarter to $20 billion from $17.9 billion in the first quarter of 2020. Growth was fueled, in part, by an increase in realized …
