Search

The 2024 Annual Program Directory, Winter Edition is a comprehensive resource that offers an alphabetical listing of insurance markets, with contact details for insurance providers specializing in various niche areas. The directory covers insurance solutions for nonprofit organizations, agricultural insurance, aviation programs, and more, providing phone numbers, addresses, and websites for further information. It aims to help individuals find tailored insurance coverage to meet their specific needs, with agencies specializing in wholesale, sports, staffing, and professional programs located across the United States. [Extracted from the article]

This article discusses the challenges faced by senior living facilities, including labor shortages, legal issues, and changes in the insurance market. While the liability insurance market is generally favorable for senior living operators, certain locations are more challenging due to targeted lawsuits. The property insurance market is currently stable but could be affected by a severe hurricane season. The industry is also grappling with a labor shortage, which could increase risks. However, artificial intelligence is being used as a risk management tool in senior care facilities, helping to identify potential issues and improve the quality of care. The use of AI in healthcare is growing and evolving. [Extracted from the article]

The property/casualty insurance industry and excess and surplus lines brokers are facing an increasingly risky environment due to various factors. Despite some lines of coverage stabilizing, new business is expected to continue flowing into the excess and surplus lines (E&S) market. The U.S. surplus lines premium showed strong growth in the first half of 2024, with a 10.1% increase in premiums compared to the same period in 2023. Structural changes in the industry, such as dedicated E&S units by major carriers, have contributed to the continued flow of business into the E&S market. The market remains diverse and dynamic, with different factors impacting different sectors. The growth in the E&S market has also led to the emergence of new carriers and investment in delegated underwriting authority enterprises (DUAEs). The article discusses the growth and opportunities in the excess and surplus (E&S) insurance market, including the rise of managing general agents (MGAs) as cost-effective alternatives for covering niche or emerging risks. The article also mentions the increase in personal lines coverage in the E&S market due to admitted insurers withdrawing from specific markets. Overall, the E&S market is experiencing a historical hard market, which presents both challenges and opportunities for insurers. [Extracted from the article]

This document is a directory of intermediaries and carriers in the insurance industry. It provides contact information for various companies, including their addresses, phone numbers, fax numbers, email addresses, and websites. The directory includes a range of insurance providers, such as managing general agencies, licensed surplus brokers, Lloyd's correspondents, and managing underwriters. It is a useful resource for individuals conducting research on insurance companies and intermediaries. [Extracted from the article]

Home and car insurance rates have been rising nationally due to inflation, extreme weather events, and litigation. However, in New Hampshire, the rate of increase has been lower compared to the national average. The primary reasons for the increase in property insurance rates are inflation, weather events, and litigation. Inflation has led to higher costs for insurers, which are then passed on to consumers. Weather events, such as floods and wild weather, have also contributed to the increase. Additionally, litigation payouts by insurance companies have resulted in higher rates. Car insurance rates have also been climbing, but New Hampshire has some of the lowest average costs in the country. Reckless and dangerous driving incidents have contributed to the increase in auto insurance rates. It is important for drivers to understand that their choices on the road affect the availability and affordability of insurance coverage for all drivers. [Extracted from the article]

The 2024 Program Directory, Summer Edition, published by Insurance Journal, is a comprehensive resource that provides information on insurance programs and coverages for various industries. It includes a list of insurance companies, their carrier status, and the states in which they operate. The directory covers a wide range of industries, from adult clubs to assisted living centers, and offers valuable information for brokers and insurance companies looking for specific coverage options. It is important to note that Insurance Journal is not responsible for any inaccuracies in the information provided by respondents. [Extracted from the article]

According to a report by S&P Global Market Intelligence, the US property/casualty insurance industry is projected to return to underwriting profitability in 2024. The report predicts that personal auto insurance will drive this profitability, with a projected combined ratio of 98.4 in 2024. However, the report also highlights challenges in the homeowners line, with underwriting profitability not expected until 2026. The report suggests that higher interest rates and a shift towards higher-yielding assets could benefit the industry's earnings. [Extracted from the article]

Access to homeowner insurance in California has become increasingly difficult, with several major insurance companies limiting or stopping the renewal or writing of policies in high wildfire risk areas. This lack of insurance is affecting home sales as buyers struggle to obtain coverage. Insurers cite increasing wildfire severity, rising construction costs, and regulations as barriers to offering homeowner policies. However, there are options available for those having difficulty finding coverage, and plans are underway to increase options in the future. The California Department of Insurance is working on strategies to entice insurers back to the state and make insurance more accessible. [Extracted from the article]

According to an analysis by Assured Research, the property/casualty insurance industry's loss reserves have developed favorably in recent years, with an estimated redundancy of $11.7 billion. However, there are concerns about adverse development in liability lines of business. The workers compensation line is still showing favorable development, while commercial auto liability is experiencing reserve deficiencies. Overall, the industry is advised to remain calm and carry on, but caution is needed in addressing these challenges. [Extracted from the article]

Solo travel, or "wanderlone," is on the rise among Canadians, according to Flight Centre Canada's Chadd Andre. In 2023, 40% of their customers chose to embark on solo travel, marking a 62% increase from the previous year. The desire for personal enrichment and independence, as well as the opportunity to explore new cultures and experiences, are driving factors for this trend. Popular destinations for solo travelers include European countries like Spain, Portugal, Denmark, Norway, and Sweden, as well as far-flung destinations like Morocco, Madagascar, Thailand, Vietnam, Bolivia, and Kenya. [Extracted from the article]

Insurance underwriters are becoming increasingly cautious about providing coverage for per- and polyfluoroalkyl substances (PFAS) due to a surge in litigation and regulation surrounding these chemicals. Insurers are implementing coverage exclusions and, in some cases, declining to write liability policies altogether for industries exposed to PFAS. The Environmental Protection Agency (EPA) has set limits on PFAS levels in drinking water, and the Insurance Services Office (ISO) has published endorsements excluding PFAS-related claims in general liability policies. The insurance landscape is being heavily impacted by PFAS-related lawsuits, leading to a reactive market and increased difficulty in finding coverage for PFAS exposure. [Extracted from the article]

The article discusses Vinson Walden's investment strategy at City Different Investments, focusing on global equity with 20-30 holdings, primarily in the U.S., Canada, and Norway. Walden emphasizes energy and utilities due to the growth in electric cars and artificial intelligence, with a particular interest in nuclear energy. He also highlights investments in consumer discretionary sectors, such as Mercado Libre in South America. Walden advises caution in avoiding hype and fraud in certain sectors, emphasizing a value-oriented approach. [Extracted from the article]

The article emphasizes the increasing importance of travel experts in the face of modern travel challenges, such as flight delays, extreme weather, and online booking errors. Travel professionals play a crucial role in offering stability, managing disruptions, and ensuring peace of mind for travelers. The text highlights the value of human expertise in navigating complexities and providing personalized advice, emphasizing the need for a human touch in an era of evolving travel preferences and uncertainties. [Extracted from the article]

The article discusses the concept of "shrinkflation" in the insurance industry, where coverage is reduced to prevent price increases. The author highlights reasons for coverage reductions, including consumer focus on price, regulatory constraints, and insurers selling inferior products. The article emphasizes the importance of understanding insurance policies and the insuring process to avoid uninsured claims. The author concludes with a quote emphasizing the pitfalls of solely considering price in insurance decisions. [Extracted from the article]

The article discusses the increasing number of roof-related claims in the insurance industry, driven by severe weather events, rising repair costs, and roofing scams. High-value properties, including luxury homes, are particularly affected, with convective storms causing billions of dollars in damages. Insurers are adapting by becoming more selective in coverage, using advanced technology for assessments, and implementing depreciation clauses for older roofs. Proactive roof maintenance is emphasized to maintain insurability and reduce the risk of storm damage. [Extracted from the article]

The article discusses various acquisitions and mergers in the insurance industry, such as Marsh McLennan acquiring McGriff Insurance Services for $7.75 billion, Tranzact being sold to GTCR and Recognize, and AssuredPartners acquiring Halstead Insurance Agency. Other acquisitions include Xceedance acquiring Millennium Information Services, Brown & Brown acquiring The Canopy Group, and Hub International acquiring Associated Insurance Group. These acquisitions aim to strengthen the companies' positions in the insurance market and expand their service offerings. [Extracted from the article]

Kinsale Capital Group Inc. is a specialty insurance company that focuses on writing higher risk business outside of the standard market. They offer coverage for various sectors, including property and casualty insurance, and compete in the excess and surplus lines market in all 50 states. They charge higher prices and provide more restrictive coverage due to the higher hazard level of the business they insure. Kinsale emphasizes expert underwriting, efficient operations, and claims handling as key factors in their success. They do not provide risk reduction advice to customers, as they primarily focus on pricing and insuring higher risk businesses. Kinsale is known for its disciplined underwriting and low-cost operations, which contribute to their competitive advantage in the insurance industry. They have achieved success in the personal auto insurance market by focusing on efficiency and low-cost operations, similar to Progressive and Geico. Unlike its competitors, Kinsale handles its underwriting internally, which allows for more accuracy and cost reduction. The company's commitment to technology has also been a core competency, enabling them to drive productivity enhancements, reduce costs, and improve customer service. Kinsale operates in the highly competitive excess and surplus (E&S) market, which is dynamic and constantly evolving. Despite the challenges posed by the changing economy and the competitive landscape, Kinsale aims to continue its success in the industry. [Extracted from the article]

This article provides an overview of the property and casualty (P&C) insurance sector, as well as insights from Robert Farnam, a Managing Director and Equity Research Analyst at Janney Montgomery Scott. Farnam covers various P&C insurance companies and offers investment opinions on their equity. He notes that the industry has been performing well, with premium prices increasing due to factors like climate change and legal issues. Farnam also discusses the impact of interest rates and inflation, as well as regulatory challenges faced by insurance companies in different states. The article highlights the importance of independent agents, the shift towards direct-to-consumer products, and the need for insurance companies to adapt to the digital age. It also mentions concerns about increasing litigation costs in the casualty business and the industry's efforts to attract younger talent and ensure cybersecurity. [Extracted from the article]

This article provides an overview of the property and casualty insurance industry, focusing on different sectors and trends within the industry. Personal lines are experiencing a slowdown in rate increases, while standard commercial lines are performing well except for workers' compensation. Specialty commercial lines have seen significant rate increases and improved results, and reinsurance has implemented tighter policy terms and conditions, leading to improved earnings. The importance of insurance brokerage relationships is emphasized, particularly in the commercial line side. State regulations and recent legislative reforms in Florida are discussed, as well as the potential impact of recent Supreme Court decisions. The article also highlights specific companies and investment options within the industry. [Extracted from the article]

The article discusses the future of insurance agencies and the changes they will need to undergo to remain competitive. Technology, particularly artificial intelligence, is identified as the biggest catalyst for change in the industry. Automation and self-service options are encroaching on tasks traditionally performed by agents, and the rise of direct-to-consumer sales is expected to continue. Societal changes, such as the shift in population demographics and consumer expectations for seamless digital experiences, are also driving the need for agencies to adapt. However, the human touch and personalized service will still be crucial, especially for complex insurance products. Agencies must focus on agility, customer-centricity, and technological savvy to thrive in the rapidly changing landscape. [Extracted from the article]

The article explores California insurers' restrictions on new property insurance policies due to wildfire threats. It features ZestyAI, an InsurTech using Artificial Intelligence (AI) and aerial imagery to evaluate building vulnerability and potentially cut insurance expenses. Despite recent rainfall reducing wildfire risk, vegetation accumulation remains worrisome. ZestyAI offers risk scores to insurers and policyholders, emphasizing structural wildfire vulnerability reduction.

The article discusses court orders that reveal data on litigation funding sources, highlighting the lack of federal laws requiring disclosure. It also addresses the unprofitability of homeowners insurance carriers, with a decrease in return on equity despite rate increases. The study suggests that insurers need to consider loss mitigation tools to achieve long-term profitability. Additionally, the article touches on concerns about third-party litigation funding impacting the legal system and the need for increased transparency in court rules. [Extracted from the article]

The article from Insurance Journal provides updates on various appointments and promotions within the insurance industry across different regions in the United States. Individuals like Bill Farber, Brad Heter, and Chuck Mazzanti have been appointed to key positions in different insurance companies. The article also highlights the appointments of industry leaders like Todd Jackson and Lou Moran III to prominent roles within industry organizations. Additionally, the article mentions new hires and promotions in companies such as Chaucer, Resilience, and USG Insurance Services. [Extracted from the article]

The article discusses the evolution of the wholesale insurance market, highlighting the shift towards consolidation and innovation. It explains how private equity firms acquired and consolidated retail agencies, leading to the centralization of wholesaler relationships. The article also emphasizes the growing complexity of small and mid-size business risks, which has resulted in the expansion of the excess and surplus lines (E&S) market. It further explores the challenges faced by the wholesale insurance market, such as the need for specialized coverage for evolving risks and the impact of market consolidation on choice and personalized service. The article concludes by discussing future trends in the industry, including the integration of advanced technologies like AI and the potential regulatory challenges in the E&S market. [Extracted from the article]

FM Global, a commercial property insurer, has announced that it will now be known simply as FM. The company's new name and logo were unveiled at a midyear meeting, and FM will serve as the parent brand for its flagship mutual insurance company and commercial property insurer AFM. Additionally, FM's cargo insurance business, boiler and machinery reinsurance business, and a new renewable energy unit will also incorporate the new FM brand name. [Extracted from the article]

The article discusses the financial impact of weather and climate-related disasters on the property and casualty insurance industry in the United States. The industry has experienced significant underwriting losses due to the high costs of these catastrophes. Additionally, the article highlights the role of insurance companies in covering traffic accidents and the factors contributing to the high number of accidents, such as distracted driving and aggressive behavior. Despite these challenges, insurance companies have been profitable and their stocks have performed well. The article also provides recommendations for investing in insurance companies and lists several insurance plays to consider. [Extracted from the article]

The article discusses about the key trends for insurance agencies. It further discusses about the challenges faced by the insurance industry because of artificial intelligence (AI), machine learning, the internet of things (IOT), blockchain, data analytics and other emerging technologies; impact of inflation on company profitability; and also mentions about the increase in natural disasters and severe weather effecting insurance companies.

Liberty Mutual Holding Co. is contemplating selling its operations in Thailand and Vietnam to streamline its business, potentially raising a few hundred million dollars. Global and regional insurers have shown interest in acquiring these assets. No final decisions have been made yet, and this move would align with Liberty Mutual's previous efforts to exit non-core markets and focus on US property and casualty insurance. [Extracted from the article]

New York is considering requiring property/casualty insurers to cover the claims of insolvent taxi insurer American Transit Insurance Co. due to mounting financial troubles. The state is exploring options such as merging funds or levying assessments on other insurers to help cover ATIC's claims. Stakeholders, including government officials, drivers, and industry representatives, are discussing comprehensive plans to protect drivers and passengers while minimizing disruptions to livery services. Despite potential taxpayer bailouts being unlikely, consumers may still bear some costs if insurers pass on expenses from covering ATIC. [Extracted from the article]