Headlines
The 8.5 percent rise in the Consumer Price Index in July is good news for consumers and policymakers, but high prices for food and rent pose a challenge for President Biden.
Rising inflation has produced an uptick in insurer loss costs, demonstrated most clearly by the price tag for commercial building materials and commercial automobile and truck parts.
"We estimate that is now a $70 billion market", says William Pitt. Technology investment, new capital through fronting companies, and talent migration are driving growth.
Two major Florida P&C insurers have announced second-quarter financial results. The news is a mixed bag and was not unexpected.
Weston Property & Casualty Insurance Co. is insolvent and should be placed into receivership, making it the fifth FL property insurer this year to be dissolved.
Jobs are up, wages are up, inflation is up, and recession is unlikely in the short term.
Policyholders of FM Global will collectively receive about $300 million.
New issuance of property/casualty catastrophe bonds totaled $4.86 billion across 23 transactions in the second quarter.
The independent agency channel places 62% of all property-casualty insurance written in the U.S.
California’s largest wildfire so far this year has so far burned more than 60,000 acres, but it is now 60% contained. The McKinney Fire broke out on July
California's biggest wildfire of the year has killed four people and scorched nearly 60,000 acres in the Klamath National Forest.
