Insured and Premium - Insurance Industry Brief

Cyberattack Surge Creates Opportunity for Insurers, Prompts Rethink on Premiums

Insurance Journal

MAY 28, 2025

A recent surge in high-profile cyberattacks is offering an opportunity for insurers including Munich Re AG and Chubb Ltd. to cash in from a rapidly expanding market and prompting a rethink on premiums. As artificial intelligence makes attacks more …

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Premium Insured Insurer Insurance

Understanding and Preparing for a Premium Audit

Central Insurance

MAY 19, 2025

Many commercial insurance policies require a premium audit at the end of the term to match your coverage with actual business activity. The post Understanding and Preparing for a Premium Audit appeared first on Central Insurance Blog. Here's what to expectand how to make the process go smoothly.

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Premium Commercial Insurance Commercial Insurance Policy

A Deep Dive: Recommendations on Georgia’s Rising Premiums, Loss Ratios

Insurance Journal

JUNE 8, 2025

Homeowners’ insurance premium in Georgia costs less than in other states. Neither affordability nor availability have been major concerns in a state with hundreds of licensed insurers. But things changed in 2023-2024 when Hurricanes Idalia, Helene, and Milton struck the …

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European Insurers Enjoy Big Profits After Premium Hikes

Insurance Journal

AUGUST 8, 2024

Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …

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Premium Insured Insurer Insurance

Washington Insurance Agent Charged With Stealing $424K in Premiums

Insurance Journal

FEBRUARY 5, 2025

A King County, Washington, judge issued a bench warrant a former Seattle insurance agent charged with stealing more than $400,000 in premiums from his clients. Edward Hadley was charged with nine counts of first-degree theft following investigations by the Washington …

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WCIRB: California Workers’ Comp Written Premium in 2023 Was up Slightly

Insurance Journal

OCTOBER 8, 2024

California workers’ compensation written premium in 2023 was slightly above 2022, while written premium for the first six months of 2024 is 2% lower than the first six months of 2023, a new report shows. The Workers’ Compensation Insurance Rating …

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Premium Workers Comp Compensation Workers Compensation Insurance

Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels

Insurance Journal

DECEMBER 10, 2024

Top insurance companies suffered $10.6 billion of direct premiums they underwrote for commercial fossil-fuel clients in 2023, according to Insure Our Future. Of the 28 insurers reviewed, more than … billion of climate-attributed losses this year, just shy of the $11.3

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Premium Commercial Insured Insurer

NC Insurers Warned on Flood Denials in Underwriting; NFIP Allows Monthly Premiums

Insurance Journal

NOVEMBER 4, 2024

North Carolina Insurance Commissioner Mike Causey is reminding property insurers to refrain from raising homeowners’ premiums just because an insured filed a claim or inquiry in order to qualify for flood insurance indemnity or federal assistance. In most cases, the …

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Premium Underwriting Underwriter Property Insurance

Slower Growth but Surplus Lines Premiums Still Up 12% in 2024

Insurance Journal

FEBRUARY 5, 2025

The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & Specialty Insurance Association (WSIA). 2024 premiums reflected a …

Premium

Premium Insurance Insured Insurer

North Carolina Settles on 15% Increase in HO Rates

Insurance Journal

JANUARY 20, 2025

AP) Base rates for North Carolina homeowners’ insurance premiums will increase on average by about 15% by mid-2026 as part of a settlement reached by the state Insurance Department and the industry. The agreement announced Friday by …

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Premium Insurance Insured Insurer

Miami Insurance Agent Pleads Guilty to Keeping $6M in Premium Finance Loans

Insurance Journal

NOVEMBER 21, 2024

A Miami insurance agent has pleaded guilty to defrauding a Georgia credit union by obtaining loans for condominium associations’ premium financing then using the $6 million for personal gain. Heleonel Gonzalez, known as Leo, is set for sentencing in February, …

Insurance Agent

Insurance Agent Insurance Agents Premium Agents

Miami Insurance Broker Sentenced to 3.5 Years in Condo Premium Finance Scheme

Insurance Journal

MARCH 27, 2025

A federal judge on Wednesday sentenced a Miami insurance broker to 41 months in prison and more than $5 million in restitution for defrauding a Georgia credit union by obtaining loans for condominium associations’ premium financing, then using the loans …

Insurance Broker

Insurance Broker Premium Broker Insured

European Insurers’ Fundamentals Resilient to Moderating Premium Rates, Falling Yields

Insurance Journal

DECEMBER 19, 2024

European insurers are approaching the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to present more challenges, with falling yields and moderating premium …

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Premium Insured Insurer Insurance

How To Save On Insurance Premiums During an Economic Downturn

Insurance Journal

DECEMBER 15, 2024

Discover practical strategies to reduce your insurance premiums during an economic downturn. As the economic landscape fluctuates, so does the insurance … This post is part of a series sponsored by Trucordia. Learn how to save money without compromising on coverage.

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Premium Insured Insurer Insurance

Australian Insurer IAG Says Rise in Claims, Third-Party Costs to Push Up Premiums

Insurance Journal

AUGUST 20, 2024

Insurance Australia Group said on Wednesday it expects premiums to keep rising because of a huge jump in loss claims and third-party costs for home and automobile repairs, sending its shares more than 3% lower. IAG said the money it …

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Premium Claim Insured Insurer

Report: 1Q 2024 California Workers’ Comp Written Premium 3% Lower Than Year Ago

Insurance Journal

JULY 31, 2024

Written premium for the first quarter of 2024 was 3% lower than the first quarter of 2023, while written premium in 2023 was slightly above 2022, according to the Workers’ Compensation Insurance Rating Bureau of California. The WCIRB released its …

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Premium Workers Comp Compensation Workers Compensation

NYC Council Passes Bill to Lower Insurance Limits for For-Hire Vehicles

Insurance Journal

JUNE 12, 2025

With urging from a coalition of for-hire vehicle drivers and companies including Uber, the New York City Council voted to lower a for-hire vehicles’ insurance requirement in hopes of lowering premiums and disincentivizing fraud. The lawmakers voted 50-0 (with one …

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‘Dr. Taxes’ in Georgia Charged with Taking Workers’ Comp Premiums from Clients

Insurance Journal

SEPTEMBER 9, 2024

A businessman in south Georgia who called his business a tax preparation site for immigrants is now facing multiple charges that he swindled clients out of thousands of dollars in workers’ compensation insurance premiums. Emmanuel Torres Cruz, 34, was arrested …

Workers Comp

Workers Comp Premium Compensation Workers Compensation

Florida’s Insurance Scandal: The “Incomplete” Report That Almost Stayed Buried

Property Insurance Coverage Law

MARCH 15, 2025

Floridas homeowners have been paying ever-increasing insurance premiums, but where has all that money been going? A secret state report, which regulators conveniently left unfinished and never shared with lawmakers, might have held the answer.

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Premium Property Insurance Insured Insurer

Agency E&O Buyers Report Higher Premiums

Insurance Journal

NOVEMBER 3, 2024

By Andrea Wells Fewer agencies reported increases in premium on their agency errors and omissions renewal policies from 2023 to 2024, according to Insurance Journalis annual Agency E&O survey, which polls buyers of the coverage on pricing and trends on …

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Premium Policy Insurance Insured

People Moves: US Premium Finance Hires Malone From AFCO Direct

Insurance Journal

NOVEMBER 12, 2024

US Premium Finance, a division of Atlanta-based Ameris Bank, named Alan Malone director of sales and marketing. Malone has more than 30 years of experience in insurance premium finance. He was previously senior vice president and regional sales manager at …

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Premium Insurance Insured Insurer

CIAB: All Commercial Lines See Lower Q3 Premium Increases Except Umbrella

Insurance Journal

NOVEMBER 21, 2024

Respondents of a recent survey reported lower premium increases for all lines of business except umbrella during the third quarter. According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes rose …

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Changes to Washington Homeowners and Auto Premium Rule to Be Considered

Insurance Journal

NOVEMBER 3, 2024

Washington Insurance Commissioner Mike Kreidler has proposed modifying the state’s recently adopted premium change transparency rule. The proposal is specific to Phase 2 of the rule (the automatic inclusion of reasons for premium increases in policy renewals). It moves the …

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Premium Policy Insurance Insured

New Teen Driver? Here’s What You Need to Know About Safety—and Your Insurance Rates

Central Insurance

MAY 21, 2025

Learn how the teenSMART program improves teen driver safety and may help lower your auto insurance premium with Central. Heres What You Need to Know About Safetyand Your Insurance Rates appeared first on Central Insurance Blog. The post New Teen Driver?

Auto Insurance

Auto Insurance Premium Insured Insurer

Florida Property Insurance Rates and Premiums Are Going Up Even More: All United States Property Insurance Premiums Are Rising

Property Insurance Coverage Law

AUGUST 20, 2024

Citizens Property Insurance rates are going up. An article in the Miami Times, Citizens Looks to Hike Insurance Rates 14%, explains one reason why the rates are rising even more: The insurer of last resort in Florida isn’t meant to be competitive.

Property Insurance

Property Insurance Premium Insured Insurer

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Prof. Allan Manning

FEBRUARY 10, 2025

I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. Where a client, sought to insure for less than 12 months they would offer a discount on the premium rate.

Business Interruption

Business Interruption Claim Insured Insurer

Downward Departure: Florida Insurance Agent Charged with Embezzling Premiums After He Was Hit with Lawsuits, Complaint

Insurance Journal

SEPTEMBER 1, 2024

Florida authorities in August arrested a well-known southwest Florida insurance agent, charging him with larceny and embezzlement of premiums. Reid McDaniel, 33, who was named the honorary mayor of North Fort Myers last year but who also was facing a …

Insurance Agent

Insurance Agent Insurance Agents Premium Agents

Viewpoint: California’s Property Insurance Crisis And The Path to Reform

Insurance Journal

MAY 29, 2025

California’s property insurance market remains in turmoil, exacerbated by escalating wildfire risks, insurer withdrawals, and systemic shortcomings in the state’s safety netthe California FAIR Plan.

Property Insurance

Property Insurance Premium Insured Insurer

6 Foolproof Things That Can Affect Your Car Insurance Premiums in 2025

Top Insurance Blogs

APRIL 16, 2025

Some of the top questions new policyholders love to have answers to about their premiums before buying any car insurance coverage even on a good discount include but are not limited to: When shopping for car insurance, many intending car owners often concentrate on getting low insurance rates.

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Premium Policyholder Insured Insurer

Florida Legislators to Investigate Whether Property Insurers Used Accounting Tricks to Hide Profits

Property Insurance Coverage Law

MARCH 5, 2025

A new investigation into Floridas property insurance industry is set to begin, raising significant questions about insurer profitability, financial transparency, and the true reasons behind skyrocketing premiums for policyholders.

Property Insurance

Property Insurance Policyholder Premium Insurance Industry

Maryland Report Says Many Workers Misclassified, Costing $59M in Workers’ Comp Premiums

Insurance Journal

MARCH 9, 2025

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than $58 million in workers’ compensation premiums each year, according to a report from a state task force. Maryland’s Joint Enforcement …

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Premium Workers Comp Injury Compensation

Part 2: Workers’ Comp Independent Premium Audits Explained

AMAXX

MARCH 24, 2025

In this three-part series, we are examining nine elements of independent premium audits to help you better understand and control your workers’ compensation premiums. These foundational aspects are crucial for ensuring accurate premium calculations and avoiding costly mistakes.

Workers Comp

Workers Comp Premium Workers Compensation Compensation

Q1 Shows ‘Clear’ Signs of Commercial P/C Softening, Says CIAB

Insurance Journal

JUNE 1, 2025

By Chad Hemenway According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes in the first quarter of 2025 rose by 4.2%–down 22% from the last three months of 2024 and …

Commercial

Commercial Commercial Property Broker-Agent Insurance Agent

What Is Up With Insurance Premiums Other Than They Are Going Up?

Property Insurance Coverage Law

AUGUST 25, 2024

Some of you may have noticed that I am in Boston based upon the post, The Boston Insurance Library. I was invited to a CEO Summit at Harvard this weekend, and the CEOs all had this question: “What is up with our insurance premiums? Insurance premiums are up for everyone. Can we cut the costs?”

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Premium Property Insurance Insured Insurer

Can I Pause My Life Insurance Premium Payments in Germany?

Top Insurance Blogs

JUNE 1, 2025

One of the most common questions I get from clients, especially expats and young families, is: Can I pause my life insurance premium payments in Germany? appeared first on My Top Insurance Blogs.

Life Insurance

Life Insurance Premium Insured Insurer

Why US Home Insurance Rates Are Rising Fast – Climate Change Plays a Big Role

Insurance Journal

SEPTEMBER 25, 2024

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country. To …

Home Insurance

Home Insurance Premium Insured Insurer

The Data Behind Rising Homeowners Premiums: By Peril and By State

Insurance Journal

OCTOBER 23, 2024

home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual LexisNexis U.S. Home Trends Report found that all-perils …

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Premium Home Insurance Insurance Industry Risk

Viewpoint: As Insurance Losses Outpace Premiums, State Regulators Play a Critical Role

Insurance Journal

NOVEMBER 25, 2024

Along with the rising cost of living in many facets of families’ daily lives, property insurance availability and affordability continue to be a challenge across the U.S. Inflation has been persistently increasing repair, labor, and medical costs. And legal system …

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Premium Property Insurance Insured Insurer

Former California Insurance Agent Convicted After Stealing $3.7M

Insurance Journal

JANUARY 6, 2025

A former insurance agent plead guilty to stealing premium from a premium finance company. Formerly licensed insurance agent Tonja Van Roy, 59, who currently resides in Las Vegas, but operated an insurance agency based in Northridge, California, pleaded guilty today …

Insurance Agent

Insurance Agent Insurance Agents Agents Premium

Maryland Report Says Many Workers Misclassified, Costing $59M in Comp Premiums

Insurance Journal

FEBRUARY 24, 2025

Worker misclassification in Maryland is widespread, leaving thousands of workers without injury protection and depriving insurance companies of more than $58 million in workers’ compensation premiums each year, according to a new report from a state task force. Maryland’s Joint …

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Premium Injury Compensation Insurance Companies

Report: California Workers’ Comp Combined Ratio Highest in 14 Years

Insurance Journal

JUNE 1, 2025

Written premiums in California stabilized in 2022 through 2024 after the large swings during the pandemic, while the combined ratio rose to the highest level in 14 years, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California …

Workers Comp

Workers Comp Compensation Premium Insurance

Allstate Seeking 34% Rate Hike on California Homeowners Insurance

Insurance Journal

JULY 12, 2024

Allstate is seeking an increase in its California homeowners insurance premiums by an average of 34%. According to the California Department of Insurance, the Allstate homeowners filing was received by the Department on April 14, 2023. The initial rate request …

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Premium Insured Insurer Insurance

California Insurance Commissioner OKs Lower Workers’ Comp Benchmark Rate

Insurance Journal

JULY 12, 2024

California Insurance Commissioner Ricardo Lara today issued a decreased pure premium rate for workers’ compensation insurance, lowering the annual benchmark rate from $1.41 per $100 of payroll— representing a 2.1% percent decrease from last year. The advisory rate …

Workers Comp

Workers Comp Premium Compensation Insured

Florida Bill Would Limit AI in Claims Denials, Extend Bar on Execs, Raise Surplus Levels

Insurance Journal

MARCH 19, 2025

After years of rising insurance premiums, anger from homeowners, and recent reports about some property insurance carriers’ alleged diverting of profits, bills seen as “consumer friendly” continue to gain traction in the Florida Legislature. One of those bills, Senate Bill …

Insurance Carrier

Insurance Carrier Property Insurance Premium Claim

Cyberattack Surge Creates Opportunity for Insurers, Prompts Rethink on Premiums

Understanding and Preparing for a Premium Audit

Trending Sources

A Deep Dive: Recommendations on Georgia’s Rising Premiums, Loss Ratios

European Insurers Enjoy Big Profits After Premium Hikes

Washington Insurance Agent Charged With Stealing $424K in Premiums

WCIRB: California Workers’ Comp Written Premium in 2023 Was up Slightly

Insurers’ Climate Losses Almost Match Premiums From Fossil Fuels

NC Insurers Warned on Flood Denials in Underwriting; NFIP Allows Monthly Premiums

Slower Growth but Surplus Lines Premiums Still Up 12% in 2024

North Carolina Settles on 15% Increase in HO Rates

Miami Insurance Agent Pleads Guilty to Keeping $6M in Premium Finance Loans

Miami Insurance Broker Sentenced to 3.5 Years in Condo Premium Finance Scheme

European Insurers’ Fundamentals Resilient to Moderating Premium Rates, Falling Yields

How To Save On Insurance Premiums During an Economic Downturn

Australian Insurer IAG Says Rise in Claims, Third-Party Costs to Push Up Premiums

Report: 1Q 2024 California Workers’ Comp Written Premium 3% Lower Than Year Ago

NYC Council Passes Bill to Lower Insurance Limits for For-Hire Vehicles

‘Dr. Taxes’ in Georgia Charged with Taking Workers’ Comp Premiums from Clients

Florida’s Insurance Scandal: The “Incomplete” Report That Almost Stayed Buried

Agency E&O Buyers Report Higher Premiums

People Moves: US Premium Finance Hires Malone From AFCO Direct

CIAB: All Commercial Lines See Lower Q3 Premium Increases Except Umbrella

Changes to Washington Homeowners and Auto Premium Rule to Be Considered

New Teen Driver? Here’s What You Need to Know About Safety—and Your Insurance Rates

Florida Property Insurance Rates and Premiums Are Going Up Even More: All United States Property Insurance Premiums Are Rising

Mistakes in setting sums insured / declared value where the Insured elects an Indemnity Period of less than 12 months.

Downward Departure: Florida Insurance Agent Charged with Embezzling Premiums After He Was Hit with Lawsuits, Complaint

Viewpoint: California’s Property Insurance Crisis And The Path to Reform

6 Foolproof Things That Can Affect Your Car Insurance Premiums in 2025

Florida Legislators to Investigate Whether Property Insurers Used Accounting Tricks to Hide Profits

Maryland Report Says Many Workers Misclassified, Costing $59M in Workers’ Comp Premiums

Part 2: Workers’ Comp Independent Premium Audits Explained

Q1 Shows ‘Clear’ Signs of Commercial P/C Softening, Says CIAB

What Is Up With Insurance Premiums Other Than They Are Going Up?

Can I Pause My Life Insurance Premium Payments in Germany?

Why US Home Insurance Rates Are Rising Fast – Climate Change Plays a Big Role

The Data Behind Rising Homeowners Premiums: By Peril and By State

Viewpoint: As Insurance Losses Outpace Premiums, State Regulators Play a Critical Role

Former California Insurance Agent Convicted After Stealing $3.7M

Maryland Report Says Many Workers Misclassified, Costing $59M in Comp Premiums

Report: California Workers’ Comp Combined Ratio Highest in 14 Years

Allstate Seeking 34% Rate Hike on California Homeowners Insurance

California Insurance Commissioner OKs Lower Workers’ Comp Benchmark Rate

Florida Bill Would Limit AI in Claims Denials, Extend Bar on Execs, Raise Surplus Levels

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