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The Inside P&C news team runs you through the earnings results for the day. -
Capacity is still short of demand, even in the non-admitted market where carriers are not subject to regulatory approval for prices.
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Pricing, catastrophes and rising costs are headwinds for this quarter’s insurer results, but brokers should be buoyed by continued inflation.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Following media reports last week that AAA had plans to pull out of the Florida insurance market entirely, the home and auto carrier "set the record straight” on Monday.
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The layoffs will be effective at the end of September.
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The practice is banned under present legislation, which carriers say has led to unprofitability and continued recent exits from new homeowners’ business.
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Farmers Insurance becomes the latest major national carrier to pump the brakes in California, limiting new business to only 7,000 policies per month, signaling further problems in the state’s homeowners’ market.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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It was the largest daily drop Progressive stock has experienced since August 2008.
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Sources said the Japanese insurer will pull back from the California personal auto market in June 2025 as it is set to exit the state’s admitted personal lines market on June 1, 2026.
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Motor vehicle insurance price increases moderated to 16.9% from 17.1% in May, while the all-items CPI slowed to 3.0% from 4.0%.
