Many factors that insurers encountered in 2020 likely will continue to impact the financial performance of the U.S. property/casualty (P/C) industry in 2021, with last year’s results reflecting a still-firm commercial lines pricing environment and higher-than-average...
AM Best has revised its market segment outlook on the U.S. E&S industry to stable from negative due to its ongoing ability to successfully navigate the COVID-19 pandemic. The Best’s Market Segment Report, “Market Segment Outlook: U.S. Excess & Surplus Lines,”...
Profitability metrics in the U.S. private passenger auto insurance segment showed notable improvement through third-quarter 2020 over the prior-year period, even though premium volume during the timeframe declined, according to a new AM Best report released March 4....
While other rating agencies continue to rate the global reinsurance market’s outlook as negative, at the end of 2018, AM Best changed its view of the reinsurance market segment to stable from the negative outlook it had held between 2014 and 2018. As Best sees it,...
The National Association of Professional Insurance Agents (PIA) trumpeted the reintroduction of S. 524, the Federal Insurance Office Abolishment Act. Previously introduced in the 116th Congress, the bill was reintroduced by Sen. Ted Cruz, R-Texas. The FIO was...
Orleans Parish Judge Paulette Irons dismissed the complaint from the owners of the Oceana Grill in New Orleans. The owners of the French Quarter restaurant, Cajun Conti LLC, were seeking millions in business interruption coverage from underwriters at Lloyd’s after...
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