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Top Stories / Ad / Most Recent
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The deal comes after Insurvia was seeking a new sponsor.
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Premium inflation holds, as loss-cost inflation trends continue to moderate.
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Commercial lines difficulties continue to weigh down industry results.
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Increased cat losses in property offset auto improvements.
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GL reserves continue adverse development trend for 2015-2019 accident years.
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Auto-related CPI values continue to drop, while premium inflation hits new highs
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The changes will be up for discussion at a March 26 public hearing.
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The agreement has been extended an additional year through December 2025, and an incremental $140mn will be made available to Lemonade.
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Sources said that TMA ran a profitable book in California that included personal auto and homeowners’ policies.
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Under the new agreements, Kingstone will cede 27% of its personal lines insurance written, down from 30% in 2023, and will receive a higher ceding commission rate than in 2023.
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2024 is likely to be another challenging year for the industry, and commercial in particular, though improvement in personal lines may soften the blow.
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Carriers aren’t calling off their retreat from the market until tangible, actionable regulations emerge from commissioner Lara’s camp, sources told this publication.
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