Insurance crisis deepens in Gulf states

[ad_1] At the time, the dealership’s shuttle was insured by Motorists Commercial Mutual Insurance Company. Smith lived with his then-wife, whose vehicle was insured by Farm Bureau, making him eligible for resident-relative coverage under her policy. Lacking personal auto insurance, Mr. Smith also filed for benefits through the Michigan Automobile Insurance Placement Facility, which provides…

[ad_1] Stronger indemnity planning will be key [ad_2] Source link

[ad_1] Houston joins The Mutual Group from Keefe, Bruyette & Woods, Inc. (KBW), an investment bank focused on financial services and fintech. At KBW, he most recently served as managing director, advising insurance companies on transactions such as mergers and acquisitions, capital raising, affiliations, divestitures, and restructurings.  [ad_2] Source link

[ad_1] “Brokers can play a bigger role” in the fight against nuclear verdicts  The insurance industry’s coalition work continues to expand. An inaugural in-person symposium in 2022 drew 50 to 60 people. Last year, that number had grown to 250. Another one is scheduled for later this year, and is expected to draw carriers, brokers,…

[ad_1] Hiscox London Market reported ICWP of US$329.7 million, a 4.0% increase from US$316.9 million last year. Growth came from property, marine, energy, and specialty classes. Rates across the segment declined by 3% for the first time since 2017 but remained 69% higher than 2018 levels. The property division benefited from previously written binders and…

[ad_1] One notable example of depopulation driving insurer growth is Slide Insurance Co., which expanded its book of residential policies from 209,799 at the end of 2023 to over 341,000 by the close of 2024. Similarly, American Integrity Insurance Co., another active participant in the program, saw its policy count jump to nearly 340,000 in…