Insurers prepare for hurricane-heavy 2025

California’s largest property insurer, State Farm General, has warned that it will not resume writing new policies in the state, even if regulators approve its proposed 22% rate increase. The statement, delivered in a letter to Ricardo Lara, the state’s insurance commissioner, underscores the growing crisis in California’s homeowners insurance market as insurers retreat in…

“We earned core income of $443 million, or $1.91 per diluted share, as outstanding underlying results, strong net favorable prior year reserve development and higher investment income more than offset catastrophe losses,” said Alan Schnitzer, Travelers’ chairman and CEO. Source link

Using their supply chain data, businesses can model tariff exposure based on where goods come from, how much is spent, and where products are sold. Mitigation strategies, such as “rewiring” your supply chain or redesigning products to reduce exposure from specific components, can then be explored. Source link

GEICO’s accident forgiveness program is marketed as a way to prevent rate increases following a policyholder’s first at-fault accident. The insurer states on its website: “Your insurance rate won’t go up as a result of your first otherwise surchargeable, at-fault accident.” However, the lawsuit argues that the company’s handling of premium adjustments contradicts its marketing…

The potential acquisition aligns with Allianz’s strategic focus on expanding its private credit capabilities. Allianz Global Investors, the asset management arm of Allianz, has been actively enhancing its private credit offerings. In October 2023, AllianzGI launched the Allianz Core Private Markets Fund, a semi-liquid strategy providing professional investors access to a diversified portfolio across private…

Tech predicted to boost efficiency, growth, and talent retention Source link