Tag: personal lines insurance

Liberty Mutual’s Big Move: Why Safeco Insurance Is Retiring After 100 Years

H. Cutner
Liberty Mutual

Safeco Insurance to Retire Brand Name by 2026, Liberty Mutual Consolidates Personal Lines Under Its Banner The insurance industry is undergoing another round of transformation, with Liberty Mutual Insurance announcing plans to retire the Safeco Insurance brand name in 2026. Safeco, a name synonymous with the independent agent channel for home, auto, and specialty insurance, will no longer serve as a standalone identity. All of Liberty Mutual’s personal lines products will instead operate exclusively under the Liberty Mutual name. Safeco’s Legacy of Strength and Partnership Since its founding in 1923…

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4 Trends Shaping the Commercial Property and Casualty Insurance Industry

Tate Ellison
insurance trends in commercial property sector

The year 2022 was the worst one for the property insurance and casualty insurance industry (P&C) since 2011. Insurers are likely to pay out billions of dollars due to severe weather conditions in the United States.  Hurricane Ian, which struck Florida in late 2022, caused the second largest insured losses after Hurricane Katrina, resulting in $65 billion alone. Swiss Re has revealed that the natural catastrophe losses of more than $100 billion surpassed the ten-year average by 40% last year.  Even AM Best’s new special report has made shocking revelations.…

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