Ascot’s Lloyd’s Syndicate 1414 sees profit decline in 2024

[ad_1] The bill would mandate that insurers disclose a breakdown of premiums collected specifically for Scaffold Law-related risks, as well as paid judgments, case reserves, incurred but not reported loss estimates, and defense expenses. Insurers would also be required to report on investment income derived from these premiums, salaries of their 20 highest-paid employees, and…

[ad_1] California emerged as the top performer in the US property and casualty insurance market with $94 billion in direct premiums [ad_2] Source link

[ad_1] P&C delivered an 18.7% rise in its operating result to €1.03 billion. This was attributed to robust premium growth and improved margins. The combined ratio improved to 89.7%, down from 91.0% in Q1 2024, with both loss and expense ratios contributing to the result. The undiscounted combined ratio also improved, decreasing to 92.0% from…

[ad_1] The proposed law would apply to intrastate freight carriers hauling loads over 26,000 pounds, including common and contract carriers regulated by the Nevada Transportation Authority and the Department of Motor Vehicles. Opponents, including the Nevada Trucking Association and the American Property Casualty Insurance Association (APCIA), argue the bill could lead to higher premiums, reduced…

[ad_1] “I think the challenge is how can you control that? Because you wouldn’t, as an insurance company, declare overnight that everybody is allowed to write software to change pricing models,” he said. As a result, the question for the market is how to make sure that this technology is pointing in the right direction,…

[ad_1] “Despite the positive perceptions, insurers face challenges in ensuring consumers adopt AI tools. Many consumers find that the technology is not yet sufficiently developed to be adopted at scale, eroding their trust,” said Beatriz Benito, GlobalData’s lead insurance analyst. [ad_2] Source link