Personal Lines

Flood coverage is one area where the insurance industry can close protection gaps, but carriers and agents need to increase their efforts to educate clients about this peril, Swiss Re’s US P&C president told this publication.

Progressive races for rate, with Allstate slightly slower to account for a recent acquisition and restructuring.

Personal lines giant Allstate is increasing rates for its auto insurance business in response to rising loss severity that has hit the segment, the firm’s CEO Tom Wilson said.

The personal auto product enables customers to bundle car insurance with home, pet and life policies.

Even after 26.5% premium growth in 2020, the pet insurance market still presents huge opportunities to grow penetration.

The executive said Progressive was taking steps to address “persistent underperformance” in its property segment and emphasized the need to avoid concentrations of risk in areas with significant catastrophe exposure.

Excessive speed and distracted driving are among some of the monsters scaring drivers and passengers this spooky season.

The company, soon to merge with Omnichannel’s SPAC, posted a gross profit of $8.0mn.

Capping the firm’s positive quarterly results, Travelers noted a strong but moderating rate in the business insurance segment in a positive read-through for commercial lines carriers.

With the acquisition, One80 intermediaries is seeking to expand its footprint in the Gulf Region.

The private equity-backed retail brokers have lessons to teach the sector’s tech start-ups.

PIF growth is slowing as the firm sees worsening loss-cost trends, and this quick response will likely allow it to outperform peers again.