Allstate reports huge pretax cat loss
Eleven events contributed to the March total, with four large-scale systems involving wind and hail accounting for approximately 80% of the losses
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Commercial lines mark four-year profit streak – Fitch
According to Fitch, the sector recorded a combined ratio of 97%, down from 107% in 2023. The improvement ended a three-year stretch of underwriting losses, with the turnaround driven by easing claims severity, steady claim frequency, and higher premiums from rate increases. Source link
Judge blocks long-term care insurance rate increase from Pennsylvania insurer
“This ruling upholds North Dakota’s right to protect and preserve its laws, regardless of who is violating them,” Godfread said in a statement. “My priority is to protect North Dakota consumers, and when a company is attempting to subvert our laws and undercut the state-based system of insurance regulation that has existed for the past…
What’s on the mind of risk leaders?
While these top risks have remained static for a while, other emerging risks are now gaining momentum, with AI and big data becoming more prevalent concerns for risk management professionals. “There’s also a lot of social tensions across the globe, which creates challenges, especially for multinational organisations operating across various markets,” he said. “If you…
US lawmakers push to end auto insurance bias with reintroduced PAID Act
House Resolution 336 would extend prohibitions beyond credit scores and occupations to include education level, employment status, gender, ZIP code, census tract, homeownership status, previous insurer, and prior insurance purchases. The bill’s language specifies that these factors would no longer be permitted when insurers calculate premiums. Source link
Centene reports 28% increase in first-quarter earnings
In April, Centene’s subsidiary, SilverSummit Healthplan was selected by the Nevada Department of Health and Human Services to continue providing Medicaid services, including the expansion of Medicaid Managed Care into rural and frontier areas. The contract, set to begin in January 2026, has a five-year term, with an option for a two-year extension. Source link
NY Workers’ Compensation Rates Anticipated to Decrease in 2026
The NY Compensation Insurance Rating Board (NYCIRB) recently voted to file for a 13.2% decrease in overall workers’ compensation loss costs. These loss costs are what insurance companies use to develop the workers’ compensation (WC) rates that employers see on their policies. NYCIRB will file their request with the NYS Department of Financial Services by May…