Thirteen U.S. property/casualty companies became impaired in 2023, 10 of which were placed into insolvent liquidation, according to an AM Best report. The insurance company impairments identified in the U.S. property/casualty industry in 2023 follow six reported impairments in 2022. …
13 US P/C Companies Impaired in 2023: AM Best Read More »
A Charlotte man has been arrested on a felony charge of insurance fraud for allegedly falsely claiming to an insurer that his car was hit by a deer, according to North Carolina Insurance Commissioner Mike Causey. Causey’s Department of Insurance’s …
North Carolina Insurance Chief Reports Arrests in Deer, Storm Claims Read More »
The North Carolina Rate Bureau, basing its filing on input from insurers in the state, has requested a 22.6% average increase in auto insurance rates, starting Oct. 1. The state insurance commissioner will have input and, if previous rate changes …
NC Rate Bureau Wants 23% Hike in Auto Insurance Rates Read More »
A King County, Washington, judge issued a bench warrant a former Seattle insurance agent charged with stealing more than $400,000 in premiums from his clients. Edward Hadley was charged with nine counts of first-degree theft following investigations by the Washington …
Washington Insurance Agent Charged With Stealing $424K in Premiums Read More »
Almost a year after the deadly collapse of Baltimore’s Francis Scott Key Bridge, Maryland officials on Tuesday unveiled their designs for its replacement, which will be taller and better protected against ship strikes. Construction of the state’s first cable-stayed bridge …
Designs for New Baltimore Bridge Unveiled Almost a Year After Deadly Collapse Read More »
A venture capital-backed startup illegally jacked up rents for furnished apartments in Los Angeles — more than 50% in one example — after last month’s wildfires that destroyed thousands of homes, the city attorney’s office alleged in a lawsuit. Blueground …
Startup Accused of Gouging LA Fire Victims on Rent Read More »
The Workers’ Compensation Insurance Rating Bureau of California (WCIRB) named Andrea Coleman as president and CEO. Coleman joined the WCIRB in May 2022 as executive vice president and chief operating officer, providing oversight across several operational areas, including finance, human …
People Moves: Coleman Assumes Role as WCIRB President and CEO Read More »
Allstate Corp. fourth quarter net income applicable to common shareholders increased 30% to about $1.9 billion, and the insurer finished 2024 with net income of $4.6 billion compared to a loss of $316 million the prior year. Results for the …
Allstate Q4 Income Up 30% Despite High Hurricane-Related Losses Read More »
The insurance industry admittedly may not be as glamorous as high-tech, investment banking, advertising, or Hollywood. After all, consider that the most influential publication on what’s happening in property & casualty insurance is titled IBNR Weekly (where IBNR means incurred …
California Wildfire Losses: Net or Gross? Read More »
Hub announced that it has acquired the assets of Lindenwood Agency, Inc. Terms of the transaction were not disclosed. Located in St. Charles, Missouri, Lindenwood Agency is one of the largest independent insurance agencies in St. Charles and has been …
Hub Acquires Missouri-Based Lindenwood Agency Read More »
