Property/Casualty Insurance
Regulatory/Law
Appeals Court Holds Coverage Melts Away in Ice Cream Maker’s Liability Case
The 5th Circuit found that a listeria outbreak and economic harm were the natural and probable result of inaction by Blue Bell Creameries corporate officers.
Date: December 2023
Insurers Look Ahead
Insurers Look Ahead to 2024 and Key Issues: Catastrophes, Inflation, Layoffs, AI and More
It’s not just hurricanes. Severe convective storms are a growing concern. And the number of billion-dollar events has been increasing. Ransomware and litigation are also ongoing concerns for the industry.
Date: December 2023
Best’s Rankings
Top 25 US Ocean Marine Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Inland Marine Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Fire and Allied Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
US Fire and Allied Lines – Top Writers by State, Canada, and US Territories – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Products Liability (Occurrence) Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Products Liability (Claims-made) Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Products Liability (Total) Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Commercial Multiperil (Non-Liability) Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Commercial Multiperil (Liability) Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US Commercial Multiperil (Total) Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US All Other Lines Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 US P/C All Individual A&H Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 P/C Accident & Health Lines Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Best’s Rankings
Top 25 Property Catastrophe Risk Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: December 2023
Florida Property
Sprouting From Chaos: Opportunity Brings New Insurers to Florida
Five new carriers have come to the Sunshine State in the wake of legislation aimed at driving down litigation and opening up the homeowners market.
Date: November 2023
Best’s Rankings: Homeowners
US Homeowners Multiperil – Top Writers by State, Canada and US Territories – 2023 Edition
Ranked by 2022 direct premiums written.
Date: November 2023
Best’s Rankings: Homeowners
Top 25 US Homeowners Multiperil – 2023 Edition
Ranked by 2022 direct premiums written.
Date: November 2023
Bank Failures
SOA Panel: Insurers Should Revisit Risk Mitigation After Spring’s Bank Failures
The collapse of Silicon Valley Bank in March followed by turmoil in other midsize banks left a trail of important lessons for the insurance industry that fueled a recent Society of Actuaries Research Institute roundtable discussion.
Date: November 2023
Best’s Rankings: Workers’ Comp
Top 25 US Workers’ Compensation Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: November 2023
Best’s Rankings: Asset Distribution
Top 25 US Property/Casualty – 2022 Asset Distribution – 2023 Edition
Ranked by 2022 total admitted assets.
Date: November 2023
The Last Word
In Search of an Underwriting Profit
In some years, insurers have had a hard time getting direct combined ratios under 100 in the multiperil homeowners line of business.
Date: November 2023
Auto: Costs
What’s Driving the Rise in Auto Costs
Repair costs and bad driving habits led to more than $30 billion in underwriting losses for private passenger auto insurers in 2022, according to AM Best data.
Date: October 2023
Auto: Electric Vehicles
When It Comes to Insuring Electric Vehicles, It’s All About the Battery
The overall cost of repair is another factor, with electric vehicles costing, on average, 52% more to fix in 2022 than those with internal combustion engines; claims frequency, however, was much less for EVs than ICE cars, according to a report by CCC Intelligent Solutions.
Date: October 2023
Best’s Rankings: Auto
Top 25 US Commercial Auto Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 US Auto Liability Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 US Auto Physical Damage Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 US Private Passenger Auto Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 US Total Auto Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
US Total All Auto Lines – Top Writers by State, Canada and US Territories – 2023
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
US Auto Liability – Top Writers by State, Canada and US Territories – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
US Auto Physical Damage – Top Writers by State, Canada and US Territories – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
US Private Passenger Auto – Top Writers by State, Canada and US Territories – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
US Commercial Auto – Top Writers by State, Canada and US Territories – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 Private Passenger No Fault Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 Other Private Passenger Auto Liability – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 Commercial Auto No Fault Writers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Auto
Top 25 Other Commercial Auto Liability – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Parametric Insurance
Parametric Insurance Helps Restore Dwindling Coral Reefs
The first-of-its-kind policy in the U.S. finances work by The Nature Conservancy to repair ecosystems critical to the health of the water and the land.
Date: October 2023
Best’s Rankings: L/H Asset Distribution
US Life/Health Asset Distribution – 2023 Edition
Ranked by 2022 total admitted assets.
Date: October 2023
Best’s Rankings: US Flood/Cyber
Top 25 Writers – US Private Flood – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: US Flood/Cyber
Top 25 US P/C Standalone Cybersecurity Insurers – 2023 Edition
Ranked by 2022 direct premiums written.
Date: October 2023
Best’s Rankings: Caribbean Insurers
Largest Caribbean Insurers – 2023 Edition
Ranked by 2021 gross premiums written.
Date: October 2023
Book Store
How To Mitigate the Risk Lurking in Cybersecurity Mitigation
Author recommends companies perform a rapid risk assessment before building a risk management strategy.
Date: October 2023
The Last Word
Michigan Director of Captives Sees Future in Cannabis, Auto, Life Sectors
The growing program also is seeing new formations from other states and is poised to receive a record number of premium by the end of the year, according to David Piner, director of the captive program, Michigan Department of Insurance and Financial Services.
Date: October 2023
P/C Mutual Insurers
The Mutual Mindset: Slow and Steady
While property/casualty mutuals hit rough seas in 2022, they typically steer toward long-term financial stability.
Date: September 2023
Best’s Rankings: Mutual Insurers
Top 25 US Property/Casualty Mutual Writers – 2023 Edition
Ranked by 2022 net premiums written.
Date: September 2023
Litigation Funding
How Litigation Funding Is Affecting Settlement Strategies, Costs
Claims and legal experts call for consistent disclosure requirements as the growing practice exhibits a greater impact on the insurance industry.
Date: August 2023
Best's Rankings
US Property/Casualty – 2022 Direct Premiums Written by Line - 2023 Edition
US Property/Casualty – 2022 Direct Premiums Written by Line
Date: August 2023
Best's Rankings
US Commercial Multiperil – 2022 Direct Premiums Written – 2023 Edition
US Commercial Multiperil – 2022 Direct Premiums Written
Date: August 2023
Best's Rankings
US Homeowners Multiperil – 2022 Direct Premiums Written – 2023 Edition
US Homeowners Multiperil – 2022 Direct Premiums Written
Date: August 2023
What AM Best Says
Cyber Price Increases Moderating as Profitability Returns to the Sector
Underwriters have worked hard to tighten the market even as rapid changes during COVID-19 exposed security weaknesses, AM Best analysts say.
Date: August 2023
The Last Word
Space Invader: If a Meteorite Strikes, Insurance Can Help
It rarely happens, but when a heavenly body hurtles toward Earth—and actually hits you or your property—there’s coverage, insurance experts say.
Date: August 2023
Risk Adviser
The PFAS Investment Opportunity
Investing in technology necessary to remediate poly- and perfluoroalkyl substances could be a boon to insurers facing litigation related to these so-called forever chemicals.
Date: July 2023
Regulatory/Law
Guns and Insurance: Not a Good Mix
A federal court recently found that coverage does not extend to people wielding a gun that discharges and injures someone.
Date: July 2023
Global Brokers Ranking
Top Global Insurance Brokers – 2023 Edition
Marsh McLennan once again claimed the top spot, while Howden jumped from 15th to 12th, and CBIZ fell to 20th.
Date: July 2023
Standing the Test of Time
Standing the Test of Time – 2023 Edition
In this edition, 167 insurers maintained a Best’s Financial Strength Rating of A or higher for at least 50 years, including 22 for at least 100 years.
Date: July 2023
Top 200 US P/C Writers
Top 200 US Property/Casualty Writers - 2023 Edition
Industry’s 2022 net premiums written increased 8.6%.
Date: July 2023
What AM Best Says
AM Best’s Briefing: D&O Liability Market Softens Amid Rising Competition, Capital Supply
After a period of hard market conditions, 2022 was a year of transition.
Date: July 2023
The Last Word
For Drivers, Even the Cutest Pet Passengers Could Create Potentially Deadly Distractions
Recent insurance company survey results show the impact of unrestrained animals on vehicle safety.
Date: July 2023
Catastrophe Bonds
‘It’s All Flammable’: Nonproperty Cat Bonds Provide ILS Investors With Options
Cyberrisk is heating up as the insurance-linked securities market looks for events beyond natural catastrophes.
Date: June 2023
Wildfire Mitigation
Wild Horses Help Rein In Catastrophic Fires
The Natural Wildfire Abatement and Forest Protection Plan works to rewild captive horses so they can eat grass, knock down tree limbs and create natural firebreaks to help slow the spread of deadly conflagrations.
Date: June 2023
What AM Best Says
AM Best Briefing: ILS Investors Seek Outlets Amid Hard Market
The briefing, ILS Market Trends: Where Is 2023 Headed?, also included discussions on the expanding nonproperty catastrophe insurance-linked securities markets.
Date: June 2023
Underwriting Expenses
Insurers Find Ways to Decrease the Underwriting Expense Ratio
An AM Best Special Report shows that years of work are finally paying off for carriers through improved efficiency.
Date: May 2023
Underwriting Expenses (Best’s Special Report)
AM Best: Underwriting Expenses Now Stable
Best’s Special Report says increases in expenses have been offset by commensurate increases in net premiums written.
Date: May 2023
Excess and Surplus Lines
What Excess and Surplus Lines Can Tell Us About Captive Insurance
Both have provided financial lifelines for organizations needing coverage that otherwise would have been unavailable or unaffordable.
Date: May 2023
Protection and Indemnity Clubs
Marine Mutual Clubs See Improved Rates and Volume in Annual Renewals
Before the February renewal deadline, the majority of protection and indemnity clubs announced general increases as they move toward price adequacy, according to AM Best.
Date: May 2023
What AM Best Says:
AM Best: Hot Cyber Market Is Cooling
Insurers also are concerned about systemic risk, which is related to the lack of diversification in the cyber line, according to Sridhar Manyem, AM Best senior director, industry research and public relations, and Senior Industry Analyst Christopher Graham.
Date: May 2023
The Last Word
In the Superhero Universe, the Fight for World Domination Could Come With a Monster Price Tag
Covering damages from an epic battle in the city of Metropolis would be an out-of-this-world proposition for insurers. Well, if it happened in real life.
Date: May 2023
Risk Adviser
Getting the Right Golf Insurance Coverage Isn’t Always Par for the Course
Hitting the links may not always be the most relaxing exercise for everyone. Keep your head up and watch out for liability traps on the links.
Date: April 2023
Risk: Climate Regulations
Rising Tide in Climate Risk Regulation Presents New Challenges for Insurers
Analysts recommend companies stay engaged and adapt to changes, many of which concern disclosure and governance.
Date: April 2023
Risk: Climate Opportunities
A Hot Market: Insurers Launch Climate-Related Businesses as Green Tech Grows
Startups and legacy carriers compete to insure renewable energy projects and protect against extreme weather catastrophes.
Date: April 2023
Risk: Derailment
Attorneys, Analysts: Norfolk Southern Likely Facing Years of Claims Over Ohio Derailment
Lawyers and analysts not directly involved in the disaster said details of insurance coverage exclusions will matter greatly, but the freight carrier still could experience a significant impact on its finances and insurance coverage.
Date: April 2023
Surety Market
AM Best: Economy, Infrastructure Build-Out Likely to Steer Surety Market
The surety market has shown resilience despite facing economic challenges, and underwriters are continuing to produce solid results.
Date: April 2023
Asia-Pacific Insurers
AM Best: Maturing Asia-Pacific Insurance Markets Offer Diversity and Growth Potential
The whole region is developing and creating “exciting” opportunities for insurers, said Rob Curtis, managing director, market development, Asia-Pacific, AM Best.
Date: April 2023
Risk Adviser
Inflation’s Impact on Property Insurance-to-Value
Many homeowners and businessowners are underinsured, but independent agents are stepping up efforts to increase protection for their clients.
Date: March 2023
Regulatory/Law
Cybercrime Coverage Has Its Limits
A recent Ohio Supreme Court case addressed whether software qualifies as media that is covered by a particular insurance policy.
Date: March 2023
Executive Interview
Kuczinski: Insurers Can’t Handle Climate Change, Catastrophic Risk by Themselves
Retired Munich Re executive Tony Kuczinski spoke to Best’s Review about how insurance companies have to do a better job of speaking as an industry to deal with rapidly evolving risks. But they can’t do it alone.
Date: March 2023
Cyber Insurance
Cyber Dilemma: Insurers Face Evolving Ransomware Demands as Attacks Escalate
Potential victims face tough decisions: Buy insurance or deal with the consequences of a potential cyberincident? If attacked, pay the ransom or not? Meanwhile, insurance companies are finding new ways to defend and protect against growing threats.
Date: February 2023
Cyber Insurance
Cyber Insurers, Brokers: Evolving Ransomware Calls for Vigilance
Date: February 2023
Cyber Insurance
Industry Sees Need for Federal Cyber Backstop, but What Model Is Best?
Insurers acknowledge that the consequences of a cyberattack could be overwhelming and force them to turn to the federal government for help.
Date: February 2023
Cyber Insurance
Ohio Supreme Court Rules Owners Insurance Won’t Have to Cover Losses in Ransomware Attack
In September 2019, EMOI’s system was hacked in such a way that when a needed file was opened, a message would appear that stated the files were unavailable but could be restored for $35,000, according to a copy of the decision.
Date: February 2023