Property/Casualty Insurance
Risk Adviser
Small Businesses Face Workers’ Comp Challenges; Many Underutilize Carrier Resources
Insurance agents play a role in advising small businesses and guiding them to mitigate workers’ compensation losses and improve employee health and safety.
Date: May 2024
Cyber
AM Best: Cyber Insurance Could Outpace D&O Coverage in Premium Volume
Christopher Graham, senior industry analyst, AM Best, said cyber may surpass directors and officers insurance in premium volume due to its rapid growth and changing market demands. He spoke at the PLUS Cyber Symposium.
Date: May 2024
For the Defense
For the Defense: Insurers’ Cost-Cutting Mindset Strains Relationship With Defense Counsel
Insurance defense attorney members of Best’s Insurance Professional Resources who responded to an exclusive Best’s Review survey say they remain committed to the insurance industry but warn that counsel-insurer relationships are under stress because of a penny-wise, pound-foolish litigation approach adopted by some insurers. Meanwhile, an increasingly well-funded plaintiffs bar continues to rack up nuclear verdicts.
Date: May 2024
For the Defense: Survey
State of the Insurance Defense Counsel Survey Says:
Forty-five insurance defense attorneys responded to a Best’s Review poll about the most significant issues confronting the profession and its relationship with insurers. The 16-question survey covered such topics as economics, legal climate and tone of attorney-client relationships. Some of the results follow.
Date: May 2024
Legal System Abuse
Munich Re, APCIA Execs: Insurers Look To Quell Ad-Driven Legal Abuse
As nuclear and thermonuclear verdicts continue to escalate, so will risk for insurers and the cost for the victims and policyholders, industry leaders say.
Date: May 2024
Litigated Claims
Prime CEO: Tide of Litigated Claims, Like Bad Divorces, Enrich Lawyers
Insurers should fight back and not always give in to unreasonable settlements that are a prime factor in the rising tide of litigated claims, according to Rick Lindsey, Prime Insurance Co. chairman, president and chief executive officer.
Date: May 2024
Protection and Indemnity Clubs
Container Ship Owner, Manager Seek Legal Shield Against Baltimore Disaster Claims
The petitioners said they claim exoneration from liability for any and all losses or damage from the event and from any claims for damages that have been or may be filed.
Date: May 2024
Best’s Rankings
Members of the International Group of P&I Clubs – 2024 Edition
Ranked by 2022 gross premiums written.
Date: May 2024
The Last Word
Coverage Conundrum: Lack of Affordable Homeowners Insurance Can Overburden the American Dream
Data show that, for some, affording homeowners insurance has become a growing difficulty. Residents in rural areas and certain cities are more likely to go without coverage.
Date: May 2024
Risk Initiatives
Insurers See Generative AI, Climate and Cyber as Key Risks
Insurers launch initiatives to respond to an array of emerging and evolving risks.
Date: April 2024
Parametric Insurance
Parametric Insurance Contracts May Apply to Tougher Risks
Parametric insurance contracts, which offer objective “trigger events” and quicker payouts to those who need relief after a catastrophe, are gaining traction in the market.
Date: April 2024
Parametric Insurance
Rapid Growth Highlights the Value of Parametric Insurance
Parametric insurers create contracts for those risks that the traditional property market “may struggle with while also providing broader coverage that protects more of an insured’s loss,” said Derrick Easton, managing director, alternative risk transfer solutions, Americas, WTW.
Date: April 2024
Parametric Insurance
Parametric Plans May Offer Quicker Resolution After a Cyber Crisis
Greater connectivity among smartphones, computers, transportation vehicles, fitness apps, medical devices, business supply chains and other assorted gadgets can make data gathering easy.
Date: April 2024
CEO Interview
New Syndicate Tackles Carbon Credits Advancing Climate Goals
Voluntary carbon credits are tradable intangible instruments issued by a carbon crediting program. A carbon credit represents one metric ton of carbon dioxide reduced, removed or avoided in the Earth’s atmosphere.
Date: April 2024
Asia-Pacific Insurers
AM Best: China’s Motor Segment Regains Growth Momentum
AM Best is maintaining a Stable outlook on China’s non-life insurance segment. The non-motor lines of business will likely be the main drivers of growth, according to a Best’s Market Segment Report.
Date: April 2024
Best's Rankings: Asia-Pacific
Largest Asia-Pacific Insurers – 2024 Edition
Ranked by 2022 gross premiums written.
Date: April 2024
What AM Best Says
AM Best Managing Director Highlights Record Year for Insurance-Linked Securities Amid Cat Bond Renewals
The ILS market grew by $4 billion last year to its current size of $100 billion, said Emmanuel Modu, noting most of that growth was based on cat bond issuance, which had a record of $15 billion this past year.
Date: April 2024
The Last Word
Don’t Get Carried Away With 2023 Cat Bond Returns
After a strong 2023, cat bonds are still likely to see strong demand. As terms weaken for new bonds, investors need to be cautious about risks, AM Best and others warn.
Date: April 2024
DUAEs
Private Equity Pouring Into DUAE Market as Investors Seek Liquidity, Growth
DUAEs offer the chance to participate in high-margin businesses that are easier to buy and sell and have made significant investments in technology, investors and analysts say.
Date: March 2024
Best's Rankings
Top 20 P/C Managing General Agents — 2024 Edition
Ranked by 2022 direct premiums written.
Date: March 2024
DUAEs: Rokstone Group
Rokstone Execs: Growth Momentum Comes as Market Shifts to MGA Model
Rokstone has strong growth targets over the next five years and is roughly tripling its gross premiums, a company executive said.
Date: March 2024
DUAEs: Roundup
Ryan Specialty Forms Financial Lines and Renewables MGUs, Makes Acquisition
DUAE news roundup: Travelers closes on its cyber MGU acquisition and Canadian MGA First Acre Insurance launches with streamlined crop cover.
Date: March 2024
Crop Insurers
US Senators Propose Index-Based Crop Insurance for Small Farms
The program would make payments within 30 days in the event of indices exceeding any of the predetermined county-level thresholds for events such as high winds, excessive rain and flooding, extreme heat, abnormal freeze conditions, hail, wildfires, drought and other perils.
Date: March 2024
Best's Rankings
Largest Multiperil Crop Insurers – 2024 Edition
Ranked by 2022 direct premiums written.
Date: March 2024
Best's Rankings
Largest Private Crop Insurers – 2024 Edition
Ranked by 2022 direct premiums written.
Date: March 2024
India Insurers
International Insurers Seize Opportunities To Expand in India
The government increased the cap on foreign direct investment in an insurance company from 49% to 74%. Several international insurance groups, as a result, have grabbed the chance to increase their exposure to India’s insurance market, according to an AM Best report.
Date: March 2024
Best’s Rankings
Largest India Insurers – 2024 Edition
Ranked by 2022 gross premiums written.
Date: March 2024
Surety Insurers
AM Best: Surety Growth, Profitability Bolstered by Public Works Projects
There is ample capacity in the market due to strong profitability. Existing surety writers are looking to expand coverages and grow their books, according to AM Best analysts.
Date: March 2024
MENA Insurers
Saudi Arabia, Türkiye Reacting to Inflationary, Economic Pressures
The following includes a list of the largest MENA insurers as well as excerpts from three Best’s Country Risk Reports.
Date: February 2024
What AM Best Says
Losses Drive Negative US Personal Lines Outlook; DUAE Market Shows Continued Growth
AM Best analysts spoke during a recent market outlook briefing that highlighted ongoing challenges in property/casualty insurance and a positive outlook for delegated underwriting authority enterprises.
Date: February 2024
Best's Rankings
Largest MENA Insurers - 2024 Edition
Ranked by 2022 direct premiums written.
Date: February 2024
Property/Casualty
Property/Casualty
Property insurance covers damages or loss of property. As a result, rates can be significantly higher in areas susceptible to perils such as hurricanes. Casualty insurance covers indemnity losses and legal expenses from losses such as bodily injury or damage that the policyholder may cause to others.
Date: January 2024
Best's Rankings
Top 25 US Property/Casualty Writers – 2024 Edition
Ranked by 2022 net premiums written.
Date: January 2024
Best's Rankings
Top 25 US Property/Casualty Companies — 2024 Edition
Ranked by 2022 gross premiums written.
Date: January 2024
Best's Rankings
Top 25 US Property/Casualty Companies — 2024 Edition
Ranked by 2022 total admitted assets.
Date: January 2024
Best's Rankings
Top 25 US Property/Casualty Companies — 2024 Edition
Ranked by 2022 policyholders’ surplus.
Date: January 2024
Best's Rankings
US Property/Casualty – 2022 Direct Premiums Written by Line – 2024 Edition
Date: January 2024
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