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Despite these shifts, commercial auto and umbrella lines continued to see significant pricing increases. Average premiums for commercial auto rose by 10.4%, while umbrella lines were up 9.5%. The CIAB attributed these increases, in part, to losses linked to litigation finance activity.
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[ad_1] As families prepare for another school year, safety should be top of mind—especially when it comes to getting children to and from school. According to the National Highway Traffic Safety Administration (NHTSA), school buses are one of the safest forms of transportation for students, but much of that safety relies on the behavior of…
[ad_1] In his new role, Beresheim will focus on aligning leadership with evolving client needs, streamlining operations, and driving innovation across Lockton’s risk offerings. He has played a pivotal role in developing the firm’s specialty practices, with a focus on cyber & technology, transaction liability, and private equity. [ad_2] Source link
[ad_1] In the US, operating DPW declined 3%, mainly due to the non-renewal of a large account. The region’s combined ratio improved slightly to 86.8%, helped by rate momentum across most lines. In the UK and Ireland, operating DPW fell 4% as portfolio remediation efforts continued. The combined ratio in that segment rose to 97.6%,…
[ad_1] In response, Central Huijin Investment Ltd., a unit of China’s sovereign wealth fund, said it has sufficient liquidity and smooth funding channels to serve as a market stabiliser. The People’s Bank of China followed with an announcement that it would make refinancing tools available to Central Huijin to support its liquidity needs. [ad_2] Source…
[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] Many brokers, Shearon said, still lead with carrier logos, product names, and price promises – missing what clients actually value. “At the end of the day, the insurance policy is just a piece of paper until they need it,” he said. Clients care more about whether they can reach their broker when something goes…
