Headlines
Private workers compensation insurer net written premium decreased 9.5% to $38 billion in 2020, according to the National Council on Compensation Insurance.
Hedge funds, private equity and sovereign wealth funds are piling billions into the outcome of high stakes court cases at a faster rate than ever before.
Commercial insurance buyers in North America should see relief from the hard market next year with a few lines seeing flat renewals or even decreases, according to a report from Willis Towers Watson PLC.
U.S. property/casualty insurers saw their net income jump to $37.5 billion in the 2021 first half, up from $24.3 billion the year before, as the country continued to recover from COVID-19’s economic disruption.
A majority of the expected $300 million or more in damages from a severe weather outbreak in the southern plains and Midwest Oct. 10-11 was covered by public and private insurers. The storms brought damaging winds, tornadoes and large hail.
Despite several years of price increases and corrective underwriting actions, the sector’s combined ratio for commercial auto has not been below 100.0 since 2010, according to Best’s Market report.
Oregon will likely file a claim on its one-of-a-kind wildfire insurance policy with Lloyd's of London. The policy will help pay for fighting fires that burned 225,007 acres of the 16 million acres protected by ODF.
