Techyrack Hub

Category: US health and insurance

US P&C insurance market remains stable but uncertainty looms – report

Managing risk in a shifting market “Major industry headwinds such as social inflation, natural catastrophes, climate change, trade wars, tariffs, and regulatory changes are adding to the market uncertainty,” said Vince Gaffigan, executive vice president and director of risk consulting at Lockton. “Now, more than ever, businesses should be reevaluating their insurance programs to safeguard […]

Key Insights from the 2025 CoreLogic® Severe Convective Storm Risk Report

This post is part of a series sponsored by CoreLogic. As property insurance costs continue to rise, homeowners and insurers alike are facing new challenges. While hurricanes and wildfires often dominate discussions around natural disasters, severe convective storms (SCS) remain an underappreciated but significant contributor to insured losses. The 2025 CoreLogic® Severe Convective Storm Risk […]

Allstate to hold Q4 2024 earnings call Feb. 6

NORTHBROOK, Ill., Jan. 7, 2025 – The Allstate Corporation (NYSE: ALL) will host a conference call and webcast at 9 a.m. ET on Thursday, Feb. 6, 2025, to discuss fourth quarter 2024 financial results. Allstate plans to file its results via a Form 8-K with the Securities and Exchange Commission (SEC) after 4:15 p.m. ET […]

GEICO sued over misrepresentation in accident forgiveness program

GEICO’s accident forgiveness program is marketed as a way to prevent rate increases following a policyholder’s first at-fault accident. The insurer states on its website: “Your insurance rate won’t go up as a result of your first otherwise surchargeable, at-fault accident.” However, the lawsuit argues that the company’s handling of premium adjustments contradicts its marketing […]

Best Practices for Carriers, Agencies, and MGAs/MGUs

This post is part of a series sponsored by AgentSync. For carriers and agencies that sell Medicare Advantage, Supplement, or Part D plans, Medicare open enrollment season is always right around the corner. If you’re a life insurance carrier, a Medicare agency, or MGA/MGU and you’re trying to come to terms with the amount of […]

Allstate to sell Group Health business to Nationwide 

NORTHBROOK, Ill., Jan. 30, 2025 – The Allstate Corporation (NYSE: ALL) announced a definitive agreement to sell its Group Health business to Nationwide for $1.25 billion in cash, adjusted for the closing balance sheet, and subject to standard closing conditions including regulatory approvals. For the first nine months of 2024, Group Health had revenues of […]

Texas bill would create state-run insurance pool for prescribed burn managers

At the heart of the proposal is a state-administered insurance pool, funded through a combination of legislative appropriations (capped at $25 million), fees from participating managers, and interest income. Liability coverage would be limited exclusively to prescribed burns conducted by certified individuals, with exclusions for workers’ compensation, automobile liability, and other professional liabilities. Source link

Supercharge Your Agency with EZLynx’s New AI Tools: Meet EVA

This post is part of a series sponsored by EZLynx. As an independent agent, time is your most valuable resource, and staying competitive in a rapidly changing insurance market requires efficiency. The good news? EZLynx’s all-in-one management system is here to help. With its powerful end-to-end policy and customer solutions, along with new AI tools […]

Allstate Announces January 2025 Catastrophe Losses and Policies in Force

NORTHBROOK, Ill., February 20, 2025 – The Allstate Corporation (NYSE: ALL) today announced estimated catastrophe losses for the month of January of $1.08 billion or $849 million, after-tax. Catastrophe losses included three events with approximately $1.07 billion related to the California wildfires. The California wildfire event estimate includes reinsurance reinstatement premiums, an estimated California FAIR Plan assessment and is net of estimated […]