The mayor-elect has promised to build 200,000 new units in New York City.

By line of business, $35mn of the charge relates to commercial auto and $5mn to personal auto.

Lighter cat losses a plus, while top-line, organic growth and reserving concerns persist.

The request cites use of Verisk’s forward-looking wildfire model.

Sources said that the carrier’s listing is expected to raise around ~$100mn.

The measures also seek to encourage greater wildfire mitigation efforts.

Social inflation, reserving, and organic growth are the topics to watch this earnings season.

Under the new law, vehicles will only be required to carry $100,000 in PIP per person.

Rates need to be fair but also should not be “destructive of competition”.

Economic unease will join cat losses, renewals, and organic growth as Q1’s key topics.

Universal submitted allegedly ineligible claims to the Florida fund.

RBC reports can help regulators identify weakly capitalized companies.

The insurer has lined up Piper Sandler and KBW to run the process.

The bill also creates a governing board comprising insurance and consumer reps.

Inflation, tariffs and climate change are all making for an uncertain 2025.

The losses do not change the near-term assessment of CinFin’s balance sheet strength.

By contrast, capacity remains tight at the lead level.

No named storms exceeded AFG’s $70mn cat retention.

The “Golden Age of Specialty” continues in the Q3 releases of these specialty companies.

Increased antitrust activity and the NFIP’s dissolution would present new challenges for the industry.

The executive joins Selective after 19 years at Progressive.

Potential for rate cuts at the upcoming Fed meeting should be an addressable event for P&C insurers.

The deal helps boost Davies’ growth across North America and Canada.

The industry could weather a recession, unless loss costs and reserving pressures worsen.

Reserving trends, pricing declines and hurricane forecasts are causes for concern.

It is understood that the goal is to use a capital injection to form a reciprocal.

Light cat losses, reserve development, and pricing trends are key topics in Q1.

Some carriers may be pressing too hard on reserve releases from recent years.

2024 is likely to be another challenging year for the industry, and commercial in particular, though improvement in personal lines may soften the blow.

The outlooks on IMT Insurance Company and its affiliate, Wadena Insurance Company – both domiciled in West Des Moines, Iowa, and collectively referred to as IMT Insurance Companies – were downgraded to negative.

The bill removes a previous Farm Bill requirement mandating that carriers purchase unlimited catastrophic reinsurance. Instead, companies can purchase “adequate” catastrophic reinsurance.

There’s a “willingness of respect” from reinsurers regarding how the shock of dramatic price increases can put regional and mutual carriers under a lot of pressure, said Greg Moore.

HDI Global has agreed to acquire Indiana Lumbermens, a subsidiary of Pennsylvania Lumbermens Mutual.

Pricing, reserves and uneven catastrophe losses will be the theme this quarter.

Shifting economic winds make growth plays more attractive, causing insurer stock performance to lag though short interest remains flat.

Inside P&C’s news team runs you through the key highlights of the week.