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| | | | | | | IAA Solves Loan Payoff Challenges | | | | IAA Loan Payoff™ streamlines the process and eliminates the challenges and inefficiencies associated with total loss auto lein transactions. | | | | | | | | IAA, Inc. | | |
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| Today's Headlines | January 27, 2022 |
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U.S. property/casualty insurers have benefited from significant increases in commercial premium rates for nearly three years. However, recent industry statutory underwriting performance improvement was dampened by several factors, including persistently high natural catastrophe losses and claims related to the COVID-19 pandemic, limiting the market to slightly better than break even underwriting gains. While 2022 underwriting... read more | | |
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| | | Advertisement | | |  | | | | Verisk | | | The Peak of Insurance Innovation
February 15-16, 2022 | | | | | | | | Verisk |
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Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon's "2021 Weather, Climate and Catastrophe Insight" report. Insured losses from 2021's natural disasters reached $130 billion, which was well above the 21st century average ($74 billion), median ($66 billion) and 18 percent higher than... read more | | |
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Reconstruction prices continue to rise heading into January 2022. While lumber's trajectory is steadier, showing more moderate gains following last year's historic spikes, some lumber-derived finished goods, such as interior trim composite, continue to experience steeper increases. The latest Verisk research reveals that national reconstruction ... read more | | |
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Three regional cyber conflicts could lead to infrastructure attacks and damaging cyber espionage in 2022, a new report from cyber analytics company CyberCube says. Cyber hostilities between Israel and Iran, India and Pakistan, and China and Japan could spill into other regions or lead to the development of new attack vectors, according to the report... read more | | |
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Surplus lines premium increased 22 percent and transactions rebounded almost 6.6 percent over their 2020 totals in the 15 states with designated surplus lines stamping offices. The increases represented record levels of premium ($51 billion) and transactions (5.3 million) since the stamping offices began reporting aggregated data on an annual and semi-annual basis. Each state... read more | | |
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Fourth-quarter 2021 earnings at Progressive Corp. fell 43 percent compared with the same period a year ago to $962.3 million. The results were despite the personal and commercial property insurer posting an increase of 13 percent in net premiums written during the last three months of 2021. Progressive said its fourth-quarter combined ratio jumped over... read more | | |
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Aon plc data revealed that 2021 catastrophe bond issuance reached $12.5 billion, with more than $32 billion of bonds now active in the market. This record annual issuance surpasses the previous record of $11 billion set in 2020. The latest figure coincides with the 25th anniversary of the catastrophe bond sector—a period characterized by steady... read more | | |
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The Hartford has promoted Richard Vaughn to head of Global Specialty Distribution. He will report to Adrien Robinson, head of Global Specialty, who said that Vaughn's "experience advancing key partner relationships and distribution strategies domestically and internationally will be key to evolving and scaling the organization." Vaughn previously served as vice president of Distribution Management... read more | | |
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Applications are now being accepted for Zurich North America's new Zurich Fellows scholarship, created to help diverse talent pursue advanced degrees in insurance-related fields. Zurich plans to award scholarships of up to $10,000 each to support studies at St. John's University's Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science. The scholarship can... read more | | |
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| | Join Dave McKenna, VP, IT & CISO from Upland Capital and OneShield's ... read more | |
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| | The home improvement boom was an unexpected risk for the P&C insurance ... read more | |
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| | "Managing agent licensing is a business-critical function for insurers and ... read more | |
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| | It's good to be in the E&S market right now. Indeed, E&S typically ... read more | |
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| | This paper will review the current model of incident response for ransomware ... read more | |
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