Tag: us insurance

US insurance industry isn’t moving away from coal at the rate of EU insurers

Marc
US Insurance Industry - Power plant and wind turbine

A new report determined that insurers in the Unites States are falling behind their European counterparts. Though the number of companies in the US insurance industry that have moved away from coal has doubled this year, a new report shows that American insurers remain far behind those in Europe. Insurance companies in Europe have withdrawn support for coal at a substantially higher rate. The report, called “Insuring Coal No More,” looked at the European and US insurance industry. It scored the two regions for the third consecutive year according to…

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Hurricane Florence insurance losses will be within insurers’ ability to manage

Logan B.
Hurricane Florence Insurance - Storm Blowing in

Standard & Poor’s has predicted that the industry losses left by the storm will not have a significant financial impact. The Standard & Poor’s rating agency announced it doesn’t feel the Hurricane Florence insurance losses will be anything the industry cannot manage. Moreover, it forecasted that the insurance and reinsurance industries will not be significantly impacted by those losses. Despite the “material insured losses” left by the hurricane, the storm is not expected to harm insurers. The North Carolina coast was the first to be struck when the storm made…

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Allstate Foundation Purple Purse awards $1.25 million to its cause

H. Cutner
Allstate Foundation Purple Purse - Fundings - Money

The insurer’s foundation supports programs empowering victims of domestic violence and financial abuse. The Allstate Foundation Purple Purse initiative recently announced it was awarding $1.25 million to Moving Ahead grants. This effort supports coalitions against domestic violence and that support victims of domestic violence. The grants provide funding to coalitions that provide much-needed support to survivors. Through the Allstate Foundation Purple Purse initiative, the grants to coalitions financially empower resources supporting more than half a million domestic violence survivors. In this way, they have the assistance they need to break…

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California insurance market third largest in the world

G. Turner
California insurance market - Flag of America and of California

The state’s insurers collect $332 billion in premiums every year, said the commissioner. The California insurance market now has an annual premium volume higher than ever before. The volume has now reached $332 billion, said Insurance Commissioner Dave Jones. This figure brings the state to the position of being the third largest market in the world. The California insurance market is the largest in the United States. That said, while that figure from the California Department of Insurance (CDI) does sound impressive, knowing what that represents on a global scale…

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Transatlantic insurance market gets shot in the arm from US, EU deal

Logan B.
european union EU american USA united states transatlantic insurance market

The United States and European Union have come to an agreement to boost this international marketplace. On Friday, the United States and European Union came to an agreement to shrink legal and capital hurdles to the transatlantic insurance market. The goal was to give a boost to both the insurance and reinsurance marketplaces. The transatlantic insurance and reinsurance markets are currently worth a combined $3 billion. This transatlantic insurance market accord is one that has been under negotiation for over a year. It is a follow-up to an agreement that…

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