The U.S.commercial automobile insurance segment’s underwriting losses deepened to $4.0 billion in 2019, the segment’s worst loss in 10 years and a continuation of a decade-long trend of worsening underwriting results, according to a new AM Best report. Indeed, the …
Players should expect the directors and officers insurance market to “undergo radical changes” based on 2019 results and the “unprecedented turbulence” created by the COVID-19 pandemic, according to an A.M. Best report. A.M. Best expects that the efforts to address …
Global insurers are well capitalized to absorb the hit from rising claims and costs related to the COVID-19 pandemic, ratings agency AM Best said on Monday, citing a stress test it conducted to gauge the immediate impact of outbreak on …
The commercial auto line hasn’t returned an underwriting profit for eight years now. Growing claim severity is a big part of the problem. Advanced technology needs to be a part of the solution, according to a report released Tuesday by …
Underway for some time now, the disruption of the insurance industry has moved into a new phase, following the announcement by A.M. Best that it may soon begin scoring insurers’ innovation efforts. Journalist Russ Banham spoke with ratings agencies, thought …
Separate reports by financial analysts concluded that property and casualty carriers improved the condition of their claim reserves in 2018, in large part because of favorable loss development in the workers’ compensation line. Keefe, Bruyette & Woods reported that property …
The U.S. property/casualty industry is expected to report that 2018 was its third consecutive year with an underwriting loss. A new A.M. Best analysis projects an estimated net underwriting loss of $12.1 billion in 2018, which follows a $25.3 billion …
A.M. Best placed under review with negative implications the financial strength rating of A (Excellent) and the issuer credit rating of “a” of Farmers Mutual Hail Insurance Company of Iowa (FMH) of West Des Moines, Iowa. The under review status …
The workers’ compensation industry’s results continued a favorable trend in 2013, marking it the third consecutive year of improvement in the industry’s underwriting performance. The industry’s combined ratio declined to 98.6, an 11.7-point decrease from 2012 and the lowest calendar …
(Chicago, Illinois and Salt Lake City, Utah) March 3, 2014 – As a result of their strengthened risk-adjusted capitalization and improved operating performance, Prime Insurance Company announced today that A.M. Best Co. has upgraded their financial strength rating from B++ …