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Category: Insurance Journal

AM Best Places Ratings of R&Q and Subsidiaries Under Review with Negative Implications
Insurance Journal | April 10, 2023
AM Best Places Ratings of R&Q and Subsidiaries Under Review with Negative Implications
AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of R&Q Insurance Holdings’ three wholly owned program management subsidiaries: Accredited Surety and Casualty Co. …
Toronto Office Vacancies Hit 28-Year High as Remote Work Persists
Insurance Journal | April 10, 2023
Toronto Office Vacancies Hit 28-Year High as Remote Work Persists
The office vacancy rate in downtown Toronto reached its highest point since 1995 as the persistence of remote work damps companies’ need for space in Canada’s most-populous city. The vacancy rate in the city core, home to the largest Canadian …
Viewpoint: Optimizing Agency Relationships; A Data-Driven Approach to Premium Growth
Insurance Journal | April 10, 2023
Viewpoint: Optimizing Agency Relationships; A Data-Driven Approach to Premium Growth
Reported demise of the independent insurance agency as a sales and distribution channel have been greatly exaggerated. Over the course of a decade or more of predictions about the growth of the direct-to-consumer models, independent agents continue to thrive and …
U.S. Personal Auto Results Headed the Wrong Way. Is a U-Turn Possible?
Insurance Journal | April 10, 2023
U.S. Personal Auto Results Headed the Wrong Way. Is a U-Turn Possible?
Although the pandemic may appear more distant in the rearview mirror, its lasting impact on the personal auto insurance industry may be larger than initially expected. Private passenger automobile insurance is the largest segment of the U.S. property/casualty insurance industry, …
EPA to Propose New Vehicle Pollution Cuts, Sees Big EV Jump
Insurance Journal | April 10, 2023
EPA to Propose New Vehicle Pollution Cuts, Sees Big EV Jump
The U.S. Environmental Protection Agency is set to propose new rules to spur sweeping cuts in vehicle emissions pollution that will push automakers towards a big increase in electric vehicle sales, sources told Reuters. The proposed rules are expected to …
Lawsuit, Adjuster Say UPC Altered Louisiana Estimate After Hurricane Ida
Insurance Journal | April 10, 2023
Lawsuit, Adjuster Say UPC Altered Louisiana Estimate After Hurricane Ida
The practice of insurance companies revising independent adjusters’ damage reports may be as widespread in Louisiana as it is in Florida, according to adjusters and a plaintiffs’ attorney who has filed a lawsuit over it. “They changed my estimate completely. …
Victims Question If Baltimore Church Sex Abuse Report Is Complete
Insurance Journal | April 10, 2023
Victims Question If Baltimore Church Sex Abuse Report Is Complete
While the Catholic Archdiocese of Baltimore has long touted its transparency in publishing the names of clergy credibly accused of sexual abuse, a report released this week by the Maryland attorney general’s office raises questions about whether the church’s list …
Connecticut Woman Shot by Officer Receives $1.1 Million Settlement
Insurance Journal | April 10, 2023
Connecticut Woman Shot by Officer Receives $1.1 Million Settlement
HAMDEN, Conn. (AP) – A Connecticut woman who was seriously injured when a police officer opened fire on her and her boyfriend as they sat in a car unarmed has settled a lawsuit over the shooting for about $1.1 million. …
Wright Flood Expands Private Flood Insurance Offering in Illinois
Insurance Journal | April 6, 2023
Wright Flood Expands Private Flood Insurance Offering in Illinois
Wright National Flood Insurance Services has announced its entrance into Illinois by introducing an admitted, stand-alone private flood insurance product as the next state in the continued expansion of the company’s ResiFlood program. Wright Residential Private Flood Insurance can be …
Texas Department of Insurance Updates COVID Data Call Results
Insurance Journal | March 31, 2023
Texas Department of Insurance Updates COVID Data Call Results
The Texas Department of Insurance Division of Workers’ Compensation (DWC) updated COVID-19 workers’ compensation claims data, with insurance carriers reporting 98,000 COVID-19 claims and 468 fatalities through February 2023. DWC put out a data call with 74 selected insurance carriers …