Total reinsurance dedicated capital fell 5% to $462 billion in 2018 on volatile investment markets and mergers and acquisitions activity, said Willis Re.
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While results varied by company, the industry reported an overall 7.7% increase in operating income.
Recent political discussion about Medicare and wider health care issues and their impact on employee benefits merit close attention by Brown & Brown Inc., said the broker’s chief executive officer.
Auto insurers getting back on track with reduced Loss & LAE and expense ratios.
Our outlook remains Negative, as the political and economic uncertainties associated with Brexit continue to weigh on the UK's non-life market.
Strong risk-adjusted capitalization, favorable operating performance, and pricing and underwriting initiatives drive Stable outlook.
Insurers Are Using More Chatbots
A school safety expert cautions insurers to closely examine the types of training programs their insureds are using to prepare and respond to active shooter incidents.
The Federal Emergency Management Agency has secured a second capital markets catastrophe bond to provide additional reinsurance for the National Flood Insurance Program, which when combined with previously purchased coverage, provides $2.12 billion in total 2019 hurricane season reinsurance.
Insurers will get a slight reduction in Affordable Care Act exchange fees next year and some ACA enrollees will face higher premiums through reduced tax subsidies under rules finalized by the Centers for Medicare and Medicaid Services.
Vermont Lengthens Captive Insurance Examination Schedule to Five YearsVermont is pushing back its timetable for full examinations of captive insurance companies from three to five years under an updated law signed by Gov. Phil Scott.
Appeals Court Sides With Geico in Florida Auto Coverage DisputeA federal appeals court dismissed a Florida chiropractic practice’s class-action lawsuit against Geico, ruling the health care provider lacked standing to represent the policyholder — and leaving unanswered whether Geico has been interpreting its contract language properly.
Sompo International Appoints CEO of SI Insurance (Europe)Sompo International Holdings Ltd. has appointed Thomas Brazil as chief executive officer of SI Insurance (Europe) SA.
Kansas Governor Allows Association Health Plan Bill to Become LawKansas Gov. Laura Kelly has let a health benefit plan bill backed by the Kansas Farm Bureau to become law despite her “serious” objections.
Allstate Incurred $381 Million of Pretax Cat Losses in MarchAllstate Corp. said it incurred estimated pretax catastrophe losses of $381 million in March, bringing first-quarter pretax catastrophe losses to $680 million.
Heritage Hit With $15.4 Million in First-Quarter Catastrophe LossesHeritage Insurance Holding Inc. said it estimates $15.4 million of net catastrophe losses in the first quarter. It attributed $10.2 million of that total to a hailstorm that dumped egg-size hail in Brevard County, Florida.
Update: UPC Estimates $18 Million in First-Quarter Pretax Cat Losses(Adds information in third paragraph and removes reference to earlier Hurricane Irma losses.) United Insurance Holdings Corp. said it incurred an estimated $18 million of pretax first-quarter catastrophe losses, including higher-than-expected development on prior-year events.
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