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Umbrella and excess coverage, along with commercial auto, saw the most significant increases Source link

Surplus strength fuels confidence as rates stabilize and demand grows 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

“Programs like the CPIA (Certified Professional Insurance Agent) help producers see that they’re not alone, that others are going through the same challenges. They can learn from each other, improve their skills, understand different technologies, learn how to market online in new ways, and build better client relationships.” Source link

The state’s unique bifurcated regulatory structure involves two primary entities: the DFS, traditionally led by the chief financial officer and responsible for managing consumer services, including the intake and initial processing of insurance complaints; and the OIR, headed by the insurance commissioner, overseeing insurer licensing, rate approvals, and market conduct examinations. Source link

From supporting operational efficiency to alleviating clinician workload, AI is becoming embedded in core healthcare functions. While private equity investment in digital health declined in 2023, CFC observed sustained interest in AI-powered technologies, which remain a key driver of sector transformation Source link

“Alderman Villegas has been a strong advocate for consumer protections against rogue towing practices,” said Brooke Kelley, assistant vice president of state government relations at APCIA. “These predatory operators put motorists, pedestrians, and first responders at risk, and this proposal is an important step toward increasing consumer safeguards and enforcing stricter rules.” Source link

In 2024, roof repair and replacement costs totaled nearly $31 billion, a 30% increase since 2022. Roof-related claims represented over a quarter of all residential claim value, with wind and hail as the primary drivers. These two perils accounted for more than half of residential claims and non-catastrophic wind and hail claims have risen from…

States such as Hawaii, Iowa, and Minnesota will see a 15% rise in premiums, while Florida, which already holds the title of the most expensive state for home insurance, will see an additional 9% increase, pushing the average premium to $15,460 by the end of 2025, according to the report. Source link

Hub International also purchased the assets of Yavitz Insurance Group, a privately owned insurance agency based in St. Louis, Missouri. It also acquired Mayfield Insurance, an independent insurance agency that offers commercial and personal insurance, including life, home, auto and property insurance. Source link

Instability poses mounting challenges to corporate operations Source link

From supporting operational efficiency to alleviating clinician workload, AI is becoming embedded in core healthcare functions. While private equity investment in digital health declined in 2023, CFC observed sustained interest in AI-powered technologies, which remain a key driver of sector transformation. Source link

Summer brings sunshine, road trips, pool days, and plenty of opportunities to make lasting memories—but it also comes with unique risks that can catch you off guard. That’s why the Central Insurance team is here to help protect you when it matters most with our roundup of articles sharing important summer safety tips. Whether you’re…

Generally, geopolitical instability from budding trade wars is likely to result in hesitation from insurers. The National Insurance Alliance (NIA), a specialty insurance service provider based in the British Cayman Islands, anticipated that insurers may freeze capital commitments, particularly in inland marine shipping and manufacturing, and postpone major policy decisions until trade policies become clearer…

Matt Brannon, who authored the report, said tariffs affecting imports from countries such as China, Canada, Mexico, Japan, and Vietnam will disrupt the construction supply chain and add to repair costs. He noted a similar outcome during the COVID-19 pandemic, when material shortages and price hikes also contributed to higher insurance rates. Source link

However, reinsurance can also be a driving force behind premium increases and market restrictions. When reinsurers experience heavy losses from natural disasters, economic downturns, or global events, they adjust their rates and underwriting requirements to compensate. These increased costs trickle down to primary insurers, who, in turn, raise their rates to offset the higher reinsurance…

“It is important to understand that this is not a demutualization or a step toward demutualization, and there is no plan to issue stock or to bring in external shareholders,” the company said. “While a mutual holding company structure provides access to new and more economical debt markets, we are not required to access them…

“The new tariffs announced this week, which will impact imported vehicles and auto parts, are expected to inflate the cost of new cars, repairs and used car values due to tight profit margins for manufacturers and the interconnected global supply chain,” Friedlander said. “This could generate higher premiums for home insurance and business insurance, in…

Preferred Employers Insurance sales and distribution manager Meanwhile, Preferred Employers Insurance, a Berkley company, has named Steve Feemster (pictured above, right) as its new sales and distribution manager for Southern California. Feemster brings over 30 years of experience in underwriting and insurance sales. Source link

House Bill 1842, sponsored by Rep. Mark Lepak, would amend Section 13 of the Workers’ Compensation Code (85A O.S. §13) to bolster coverage for mental health injuries — particularly PTSD — incurred by law enforcement officers, firefighters (paid or volunteer), and emergency medical technicians. While PTSD is already a recognized injury for first responders under…

Improved returns despite deal count and mega-deal slowdown Source link

Charles Ferdin, managing partner, emphasized the opportunity to deepen engagement with Latino families, a key customer base for the firm. “As a Latino, the ability to offer financial protection and security to the Latino family is critical – PSLIC’s life insurance platform combined with our unique distribution strategy perfectly complements the wide array of mortgage…

Carriers like Mercury General, with a strong presence in California, reported heavier losses. The state’s FAIR Plan, which insurers high-risk properties, also reported significant losses, estimated at $4 billion. Its cash and surplus levels are expected to drop from $1.5 billion at the start of the year to $305 million by June, prompting a $1…

Wassersug, with 22 years of experience at Intercontinental Exchange (ICE), will lead Acrisure’s IT initiatives and support its transformation into a global fintech leader. Meanwhile, Pelsinger, who previously served as global head of corporate development at Palantir Technologies, will oversee Acrisure’s legal, human resources, and regulatory functions. Source link

As part of the deal, the acquired team will move across Source link

According to Resilience’s 2024 Cyber Risk Report, third-party related claims made up 31% of all cyber claims, with 23% of material losses linked to third-party risks. Ransomware remained a leading cause of loss, with 43% of claims involving first-party ransomware incidents. Additionally, ransomware targeting vendors emerged as a significant source of business interruption, contributing to…

“Being green is often seen more as a cost and a burden than a profitable business proposition, but our survey suggests that perception is changing,” he said. “As manufacturers adopt smart technologies to drive greener, safer and more efficient production, they are not only reducing their environmental footprint but also strengthening their competitive edge.” Source…

Adaptive frameworks and external advisors are key Source link

House Bill 1228 creates a carveout to Kentucky’s long-standing rule that excludes psychological injuries from workers’ compensation coverage unless directly caused by physical harm. The bill, which applies to police officers, firefighters, emergency medical personnel, front-line state workers, and Kentucky National Guard members, introduces a presumption of compensability for PTSD diagnoses stemming from job-related trauma….

House Bill 1842, sponsored by Rep. Mark Lepak, would amend Section 13 of the Workers’ Compensation Code (85A O.S. §13) to bolster coverage for mental health injuries — particularly PTSD — incurred by law enforcement officers, firefighters (paid or volunteer), and emergency medical technicians. While PTSD is already a recognized injury for first responders under…