Tag: underwriting losses

Why Louisiana Is One of the Most Expensive States for Insurance

Live Insurance News
Louisiana - the Most Expensive States for Insurance

Legislative Efforts in 2024 Signal Progress, but Challenges Remain Louisiana’s insurance market has long been fraught with challenges, and while legislative reforms in 2024 represented a step toward stabilizing the market, deeper systemic issues still require attention. According to the Insurance Information Institute’s (Triple-I) recent report, Trends and Insights: Louisiana Insurance Market, residents continue to face some of the highest auto and homeowners insurance costs in the nation. Triple-I’s findings revealed striking numbers that underscore this affordability crisis. For auto insurance, the average annual expenditure in Louisiana stood at $1,588…

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Iowa homeowners insurance customers are the next to face this struggle

Marc
homeowners insurance - Person stressed - Iowa Site

California, Florida, and Louisiana property owners can relate to the Iowan coverage issues Homeowners insurance customers across Iowa are discovering that obtaining coverage isn’t as easy as it once was as a number of insurers have decided to take their business elsewhere. The companies have been leaving Iowa recently The homeowners insurance companies that have decided to leave the state say that they are doing so due to the rising number of severe storms the state is facing, and the skyrocketing costs associated with paying for the repairs.  According to…

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Berkshire insurance and investments lead to 37 percent profit drop

H. Cutner
warren buffett berkshire insurance news

The slump in the industry has contributed to a reduction in the company’s revenues. According to a recent report from the company, the Berkshire insurance and investments situation in the second quarter of this year wasn’t necessarily something that would be causing investors to dance about with glee. During that quarter, the profits at Berkshire Hathaway Inc, under Warren Buffett, fell by 37 percent. Greatly to blame for the issues with profits was the Berkshire insurance arm, as there had already been a decline in the gains from investments, but…

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American insurance industry feeling the pinch of weak investments and catastrophes

Julie Campbell

A new report released by A.M. Best Co. Inc., has stated that the unprecedented number of natural disasters, poor returns from investments, and an economy that continued to struggle in 2011, has made it exceptionally difficult for the American property and casualty insurance industry’s commercial insurance and reinsurance sectors to grow and has caused notable hurt to their operating performances. It’s estimated by the rating agency, based in Oldwick, New Jersey, that last year’s underwriting losses from underwriters in the commercial property and casualty sector were approximately $15.2 billion. This…

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Report shows the rocky road of the property casualty insurance industry during 2011

ISO, a risk assessment firm specializing in the property/casualty insurance industry, and the Property Casualty Insurers Association of America (PCI) have released a new report showing the impact natural disasters had upon the P/C insurance industry in 2011. This year has become infamous for the number of severe storms and other natural disasters that have rocked the U.S. and other nations. The report notes that while the property/casualty industry grew in some aspects, it saw steep losses in others, with the most severe losses coming in a short 9-month period.…

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