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Recent wildfires in California have changed how property insurers assess risk. Traditionally, companies looked at factors like ISO Protection Class ratings, wildfire hazard scores, and proximity to fire services to determine if a property was insurable. However, devastating fires have struck areas that were once considered safe, leading to a critical reevaluation of these long-standing … Read more

Andy Shelton from Brown & Brown recently shared insights on the current state of workers’ compensation insurance in the U.S. during a video presentation. He provided a market overview, highlighting the favorable conditions that have emerged in recent times. Shelton pointed out how the classification of workers as independent contractors is impacting the insurance landscape. … Read more

The U.S. is expected to see a significant rise in mergers and acquisitions (M&A) activity this year, according to industry experts. This surge comes amid a global increase in dealmaking, as many businesses look to expand and adapt in a changing economic landscape. President Donald Trump’s policies, particularly his pro-business approach and “America First” philosophy, … Read more

Everest Group and VIG Re have announced significant leadership changes that will shape their future operations. At Everest Group, Joseph V. Taranto, the long-serving chairman, will retire when his term ends in May 2025. Taranto has been with the company since 1994, serving as chairman and CEO during his tenure. His leadership has been pivotal … Read more

The U.S. Securities and Exchange Commission (SEC) is shifting its focus back to traditional enforcement cases under new leadership. Sam Waldon, the acting enforcement director, announced on Monday that the agency will prioritize cases involving individual wrongdoing and fraud, especially those targeting senior citizens. This marks a significant change from the SEC’s recent approach, which … Read more

The Marion County Prosecutor’s Office has charged 22-year-old Gurpreet Singh with arson and intent to commit fraud. This news comes after an investigation into a house fire that occurred on April 22, 2024, in the 5700 block of Tart Boulevard in Indianapolis. Firefighters responded to the blaze shortly after 11 PM. When they arrived, they … Read more

GEICO is making big moves in Florida and North Texas by opening new offices and creating over 2,000 jobs. The insurance giant, which is part of Berkshire Hathaway, will set up a new campus in Tampa and expand its operations in Richardson, Texas. This growth is aimed at improving customer service and meeting the needs … Read more

Personal auto insurance is still more affordable than it was in the mid-2000s, despite some recent increases in premiums due to inflation. This is according to a new study from the Insurance Research Council (IRC), which is part of The Institutes. The study, titled "Auto Insurance Affordability: Countrywide Trends and State Comparisons," shows that from … Read more

As 2024 begins, the U.S. insurance market is showcasing impressive resilience. The top 20 insurers by market capitalization have reported strong profits in the first three quarters of the year. This report outlines key trends influencing the industry and offers insights for both insurers and brokers. The property and casualty (P&C) sector is thriving, with … Read more

Recent reports show that the property and casualty insurance industry is in better shape than many had predicted. Despite fears of a collapse due to climate-related disasters, the financial results for 2024 indicate strong performance. The industry posted a combined ratio of 96.6%, a significant improvement from the previous year’s 101.8%. This ratio measures losses … Read more