Specialized carriers and MGAs building growing books in the specialist market are in no rush to see legalization that would usher in larger competitors.
The California-based carrier, which focuses on personal auto, blamed rising costs for parts and labor, along with medical inflation, for the swing to an underwriting loss.
Gartner accuses the broker of breaching its fiduciary duty and negligent misrepresentation for selling policies that didn’t cover its losses from pandemic-canceled events.
Fema report obtained by The Associated Press shows the recent flood program update hiked rates so far, many homeowners are likely to go without coverage.
Texas Windstorm Insurance Association also increased its adjusted building cost by the largest amount in years, reflecting inflation and supply chain issues.
Everest Insurance has announced that its president of global property, Erik Nikodem, will retire in mid-July. The insurance arm of Everest Re also announced the appointments of three key leadership roles in its US and global property division.
While most state laws requiring workers’ comp coverage for contracting Covid-19 have expired, an industry group is watching for laws making presumptions permanent.
