Business is war.
Kentucky leads the nation in property and casualty agent growth, with numbers jumping 160 percent since 2020, reaching more than 5,200 agents this year. Nevada and Minnesota followed with gains of 60 percent and 50 percent as new residents and businesses drove demand for coverage. The Insurance Business Agent Insights Dashboard tracks these shifts across…
A Washington appeals court ruled on Oct. 21 that some claims against Farmers Insurance can proceed after a $21 million verdict left the insurer’s policyholder bankrupt. Cristina Anderson was struck by Wendy Gibson’s car in 2019 and won the massive jury award. Gibson then filed for bankruptcy, and Anderson bought Gibson’s potential legal claims from…
Selective Insurance Group posted third-quarter earnings through Sept. 30 that showed gains in some areas and losses in others. Commercial lines premiums grew 4 percent while personal lines fell 6 percent. The company earned $1.85 per share under standard accounting rules. Standard commercial business made up 78 percent of total premiums written. Renewal pricing rose…
American insurance workers are among the most overworked professionals in the developed world, with new research showing many skip vacations despite having paid time off. A FlexJobs survey found 23 percent of U.S. employees took no vacation last year, while 43 percent said their workload was excessive. Insurance professionals face particular pressure from renewal cycles,…
The Indiana Supreme Court established a standard for insurers facing claims that exceed policy coverage in a ruling issued on Oct. 21. The case involved Standard Fire Insurance Company and stemmed from a 2018 car crash where Tommi Hummel’s policy had $50,000 per person and $100,000 per accident limits. Three people sought compensation, but the…
Goosehead Insurance collected 90.4 million dollars in the three months that ended on Sept. 30 after written premiums rose 15 percent to 1.2 billion dollars. The Texas company kept 85 percent of its customers and grew policies to 1.85 million as it hired more producers. Net income reached 12.7 million dollars while adjusted earnings before…
Globe Life earned 4.73 dollars per share in the three months that ended on Sept. 30 after underwriting profits jumped 38 percent from one year earlier. Life insurance margins climbed 24 percent to 481.6 million dollars, while health coverage gained 25 percent and reached 108.4 million dollars. Premium collections hit 1.23 billion dollars as life…
Ategrity Specialty Insurance Company Holdings earned 22.7 million dollars in the three months that ended September 30, after investment gains lifted results above the 12.9 million dollars recorded one year earlier. The New York-listed carrier collected 143.9 million dollars in gross premiums, with casualty business jumping 41.4 percent to 98.9 million dollars. Property lines generated…
Commercial insurance prices fell 4 percent worldwide from July through September after carriers competed for customers and reinsurance costs dropped. Marsh reported the fifth straight quarterly decline following seven years of rising premiums. Property coverage decreased 8 percent globally, while cyber rates slid 6 percent and financial lines dropped 5 percent across all markets. American…
Aon built artificial intelligence tools that help companies spot weak points in their shipping networks before problems arrive. The broker scans more than 80,000 information sources across 200 nations to flag risks like supplier bottlenecks and transportation failures. Richard Waterer leads global risk consulting at Aon and said many businesses miss dangers buried in their…
