The auto insurance market is shifting gears. Last year, the sector saw premium growth, lower retention rates and improved loss ratios, leading to a softening market and increased profitability. However, it’s a winding road, according to the 2025 annual LexisNexis …
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AM Best Downgrades Nonprofits Insurance Alliance Members in California, Vermont
AM Best has downgraded the Financial Strength Rating (FSR) to A- (Excellent) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICRs) to “a-” (Excellent) from “a+” (Excellent) of the Vermont and California members of Nonprofits Insurance Alliance Group. …
People Moves: Dann Joins The Liberty Company in California as Vice President
The Liberty Company Insurance Brokers hired Connor Dann as vice president, producer. Dann is based in Liberty’s Woodland Hills, California, office. In his new role, Connor focuses on expanding Liberty’s presence in key markets, particularly within the construction and real …
Las Vegas Drywall Contractor Must Pay $824K in Wages, Damages
The U.S. Department of Labor recovered $824,276 in back wages and damages for 680 employees of a Las Vegas drywall contractor, which reported denied overtime pay to piece-rate and hourly workers. The department’s Wage and Hour Division investigated Spectrum Construction …
Trump Denied Reconsideration of $5M Judgment in E. Jean Carroll Sex Abuse Case
A federal appeals court won’t reconsider its ruling upholding a $5 million civil judgment against President Donald Trump in a civil lawsuit alleging he sexually abused a writer in a Manhattan department store in the mid-1990s. In an 8-2 vote …
Connecticut Hopes to Curb Auto Claims Arbitration by Shifting Cost to Insurers
Connecticut lawmakers have passed a measure to shift the cost of auto insurance arbitration hearings between claimants and insurers over damage claims to the insurance industry. Currently the department of insurance absorbs the average $3,075 cost to hold each of …
How regulatory changes are reshaping motor insurance in India
India’s motor insurance sector is undergoing significant transformation driven by IRDAI reforms, technological advancements, and evolving consumer preferences. These changes include standardized policies, flexible ‘pay-as-you-go’ options, and long-term coverage mandates. Telematics, data analytics, and specialized policies for electric and autonomous vehicles are further shaping a more inclusive and tech-friendly insurance landscape.
Personal Auto 2024 Underwriting Results Best Since Pandemic
By William Nibbelin, Senior Research Actuary, Triple-I The U.S. personal auto insurance industry saw a significant turnaround in 2024, achieving its best underwriting result since the pandemic began, according to Triple-I’s latest Issues Brief. In fact, with a net combined ratio of 95.3, personal auto insurance has outperformed the broader property and casualty (P/C)…
AM Best: US P/C Industry Records $1.1B Underwriting Loss for Q1
Growth in net earned premiums during the first three months of 2025 was offset by losses and expenses, resulting in a $1.1 billion net underwriting loss of the U.S. P/C industry. According to industry rating agency AM Best, the January …
Michigan Marijuana Store to Pay $205K to Settle a Workers’ Lawsuit Over Lost Tips
A judge approved a deal Friday to try to solve a major buzzkill: Employees at a Michigan marijuana dispensary chain said management was keeping tips left by happy customers. Timber Cannabis, which has seven locations, agreed to pay $205,000 to …