AXA reports 7% increase in GWP

David Appel, an economist serving as a consultant for State Farm General, said denying the rate request could affect the company’s ability to continue operating in the California market. He recommended allowing the increase on an interim basis, with a full rate hearing to follow to evaluate whether the emergency adjustment was warranted. Source link

In the core commercial segment, operating income before taxes was $26.8 million, down from $71.5 million a year earlier. The segment’s combined ratio increased to 103.4% from 93.9% in Q1 2024. Catastrophe losses totaled $46 million, or 8.5 points of the combined ratio, up from $20.7 million, or 3.9 points, in the prior-year quarter.  Source…

This includes cloud platforms such as AWS, Azure, and Google Cloud Platform; vulnerability scanners like Tenable, Qualys, and Rapid7 InsightVM; endpoint protection tools including CrowdStrike, SentinelOne, and Sophos; identity and access management systems such as Okta, Microsoft Entra, and Arnica; and compliance tools including Qualys Policy Compliance and Security Studio. Source link

The case began after Hurricane Irma struck in 2017, damaging multiple buildings at the Golf Villas II condominium complex, managed by the Condominium Association of Golf Villas II, Inc. The association submitted a property damage claim to its insurer, American Capital Assurance Corporation. But before the claim could be fully resolved, American Capital became insolvent…

Growth most notable in the global commercial segment Source link

The bill, sponsored by Assemblymember Lisa Calderon (D-District 56), would authorize the California FAIR Plan to access additional financial capacity through the issuance of bonds or the establishment of a line of credit. The legislation follows a recent $1 billion assessment issued by the FAIR Plan. Source link