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Similar pressures are visible across neighboring states. South Dakota’s market is led by State Farm, American Family, Farmers, Auto-Owners, and Nationwide, which together wrote more than half of the homeowners business in 2024. In Minnesota, State Farm, American Family, Auto-Owners, Farmers, and Liberty Mutual make up the top five carriers, all with significant exposure to August’s storms, according to the report.
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[ad_1] Years of supply chain shocks, regulatory shifts, and rising brand risks led many to believe that recall insurance – especially for small and midsize manufacturers – was poised for a breakout. But Robert Balogh (pictured), executive vice president at Amwins, said the wave still hasn’t hit. “It really hasn’t yet,” he said. “That’s not…
[ad_1] 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…
[ad_1] Sovereign funds rally to calm volatile equities [ad_2] Source link
[ad_1] They include a new EVP and a new associate director [ad_2] Source link
[ad_1] “Since the Lloyd’s ‘silent cyber’ mandate, insurers have been required to clearly state whether cyber risk is covered or excluded,” he said. “In practice, this has led to wide-scale application of cyber exclusions across hull, cargo, and non-International Group mutual P&I policies, regardless of format. That means many marine operators today are unknowingly exposed.”…
[ad_1] Now, Kinsale is asking the federal court to step in. The insurer says its policies with TCS – an environmental combined liability policy and an excess liability policy – don’t cover the accident, no matter how you slice it. Kinsale points to two key policy exclusions. First, there’s the employer’s liability exclusion, which says…
