Best's News: Insurance Commissioner Candidates Across the Country Making Final Pitches
OLDWICK, N.J. //BestWire// - Voters in Montana, North Carolina, Delaware and Washington will head to the polls on Nov. 5 to help determine the next president as well as their state’s top insurance regulator, according to this week's Best's News.
While insurance commissioner races don’t often make headline news, 2024 has become something of an outlier as growing property/casualty insurance costs are moving politicians from presidential candidates all the way down the ballot to offer up solutions.
Also in this week's Best's News:
— Loss estimates may be up to $300 million for the catastrophe bond market following hurricanes Helene and Milton, but market watchers said they believe enthusiasm for the sector won't take a significant hit from the U.S. Southeast double whammy.
"For catastrophe bonds, given most are in the higher layers of reinsurance towers, the impacts are relatively minor, compared to the scale of the market at over $46 billion," Steve Evans, editor in chief, Artemis.bm, said in an email to BestWire.
— Allstate Corp. wants to take advantage of a disrupted homeowners market and is widely open to new business outside of Florida and California, Property-Liability President Mario Rizzo said during an earning conference call.
Best’s News is produced by AM Best for insurance professionals. To subscribe, visit www.ambest.com.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.
(By Caroline Saucer, editor, BestWire: Caroline.Saucer@ambest.com)