Health insurance premiums in the US In 2024, the United States experienced a significant increase in health insurance premiums. The average annual premiums rose by 6%, reaching $8,951 for single coverage and $25,572 for family coverage. This uptick was primarily driven by escalating medical costs and heightened utilization of healthcare services. Source link
Consistent messaging and employee involvement drive long-term improvement Source link
The proposal, introduced by the Department of Banking and Insurance, calls for the adoption of the NAIC Term and Universal Life Insurance Reserve Financing Model Regulation #787, known within the industry as the XXX/AXXX Model Regulation. The move would bring uniformity and greater transparency to reserve financing, an area that has historically presented regulatory challenges. Source link
‘In the world of wholesale brokerage, every day brings new possibilities to dig in,’ says regional president Source link
The legislation also amends the fee structure applied to insurers and insurance professionals operating in the state, including adjustments to licensing fees for producers, adjusters, consultants, viatical settlement brokers, and rental car entity producers. While the primary fee structure remains largely unchanged, the reallocation of tax revenue may signal a shifting focus from direct insurance…
At the heart of the proposal is a state-administered insurance pool, funded through a combination of legislative appropriations (capped at $25 million), fees from participating managers, and interest income. Liability coverage would be limited exclusively to prescribed burns conducted by certified individuals, with exclusions for workers’ compensation, automobile liability, and other professional liabilities. Source link
In 2023, the US P&C insurance sector recorded a net underwriting loss of $21.2 billion, a slight improvement from the previous year’s $24.9 billion loss. This period also saw the worst underwriting loss in a decade, primarily due to severe weather-related losses, persistent inflation, and rising reinsurance costs. Source link
Bunch also said developments in California’s property segment are tied to wildfire exposure, confidence in new catastrophe models, and reinsurance support. Filing new programs in the state remains difficult, he added, especially when competing with a state-run plan. Source link
For the first time since 2018, civil litigation and third-party claims re-emerged among the top seven concerns, with 63% of respondents identifying them as significant D&O risks. Smaller companies, with revenues under $50 million, and mid-sized firms generating between $1 billion and $5 billion, were more likely to cite litigation as a major issue. Source…
For the first time since 2018, civil litigation and third-party claims re-emerged among the top seven concerns, with 63% of respondents identifying them as significant D&O risks. Smaller companies, with revenues under $50 million, and mid-sized firms generating between $1 billion and $5 billion, were more likely to cite litigation as a major issue. Source…
Executive change aligns with rising interest in parametric and captive products Source link
Extension pertains to pre-sentence investigation report Source link
Insurer claims multimillion dollar fraud, racketeering Source link
Figure is up on previously projected losses of $1.07 billion Source link
Moves include a new vice president for underwriting Source link
The ACLI has supported a transparent, data-driven approach to RBC processes, Haughawout said, adding that the task force is well-positioned to advance this effort. She also noted that the task force’s first organization call had more than 300 participants, reflecting significant interest in its work. Source link
More than 1,400 companies, representing $7 trillion in market value, have also signed on to Business for Nature’s Call to Action. Additionally, over 500 organizations are aligning with the Taskforce on Nature-related Financial Disclosures (TNFD), which provides a framework for assessing and reporting nature risks. Source link
Steadfast Group, Australasia’s largest brokerage network, with a presence in the US, has expanded its client trading platform in New Zealand to include personal lines. A media release today said Ando Insurance Group (Ando) is the first insurer partner and is offering home, contents and car insurance. Source link
“The success of our business pack on SCTP [Steadfast Client Trading Platform] with six insurers, has paved the way for this exciting new offering, which has been well received by our broker network,” said Neil Cousins (main picture), CEO of Steadfast NZ. Source link
For small restaurants, the margin for error is razor-thin. Small restaurants have always had plenty to worry about – fires in the kitchen, workplace injuries, liability claims, and the ever-present risk of a foodborne illness shutting them down overnight. Unlike large chains with corporate backing, independent restaurants don’t have the financial cushion to absorb major…
Regressive actions worsening the nat-cat protection gap While governments, companies, and individuals are taking action on the protection gap, risk management has been inconsistent, Mantero said. He cited high population growth rates in catastrophe-prone areas in the United States, such as Florida, where Hurricane Ian dealt significant inland flooding and damage to communities in 2022….
Regressive actions worsening the nat-cat protection gap While governments, companies, and individuals are taking action on the protection gap, risk management has been inconsistent, Mantero said. He cited high population growth rates in catastrophe-prone areas in the United States, such as Florida, where Hurricane Ian dealt significant inland flooding and damage to communities in 2022….
In a decision issued on March 14, 2025, the Arizona Court of Appeals reversed a lower court’s ruling in favor of Date Street Capital, LLC, a lienholder and loss payee on the policy. The court held that Date Street, while entitled to receive insurance proceeds as specified in the policy, has no contractual right to…
The company’s subsidiaries include Sierra Mortgage Capital, a nationwide closed loan mortgage conduit acquiring first lien residential whole loans; Sierra Lending Group, a retail residential mortgage originator serving the Texas market; Sierra Lending Corporation, which offers similar mortgage products in California; and Sierra Insurance Services, a Houston-based insurance agency specializing in life insurance. Source link
He cautioned that if the bill becomes law, insurers will have to reassess risk pricing in Florida, and reinsurers are likely to follow suit. He added that these changes would ultimately impact policyholders through higher premiums, calling the bill a reversal of recent reforms. Source link
In a risk-averse industry, Emmy-winning journalist Molly Grantham proves that the biggest gamble isn’t imperfection—it’s never taking the leap Source link
Insurer also investing in technology and data science Source link
P&C insurance affiliates P&C insurers in the United States often operate through complex affiliate structures, encompassing various subsidiaries and affiliated entities which are meant to diversify risk, optimize tax strategies, and comply with state-specific regulations. Source link
Given the lack of a present, quantifiable obligation from LPCiminelli to the Debtor, the court determined that the Debtor could not establish a right to payment under the bonds at this time. Therefore, the court granted Liberty Mutual’s motion, denied the Debtor’s cross-motion, and dismissed the complaint without prejudice. Source link
“The only way for AI to be successful in the organization, beyond being a tool that people use to write things and query, is if you prepare for it,” Schreiber said. “AI, like people, needs to be trained. It needs feedback. It needs to be managed. It needs people looking over its shoulder and saying…
