Author: completebodyneeds

New research from S&P Global Market Intelligence looks to suggest that homeowners insurers are reaching rate adequacy, but certain marketplace factors are creating what it called a “fragmented phase.” Nationally, the U.S. effective approved homeowners rate change declined from about 13.6% in 2024, to about 6.3% in 2025, to now about 1.8% through July 2026. “This downward trend suggests carriers have largely completed the national adequacy reset and are now looking for price change as needed or as necessitated by jurisdiction, peril mix, and regulatory timing,” said S&P GMI. S&P GMI said rates in some high-loss exposure areas are rising.…

The past two years of testing, pilots, and experimentation have given most insurers a far clearer view of where AI can and cannot deliver value. Insurers, MGAs, brokers, and agencies have spent countless hours testing tools, evaluating vendors, and exploring use cases across underwriting, claims, and customer service. Meanwhile, the importance of realizing AI’s promise has only become more urgent, as customer expectations have been steadily rising and climate change and escalating costs have pressured loss ratios–all while the industry sits on more data than ever. However, while individual pilots may have been successful and the technological frontier seemingly advances…

By Andrew G. Simpson A federal judge in New York has dismissed a racketeering lawsuit by ride-sharing firm Uber against several injury law firms, doctors, and pain clinics alleging they conspired to extract inflated auto insurance claims payments through staged accidents, unnecessary surgeries, and lawsuits. Judge Orelia E. Merchant in Brooklyn ruled that Uber failed to show that the defendants were part of a conspiracy to defraud Uber and failed to plausibly allege injury, as required to prove a violation under the federal Racketeer Influenced and Corrupt Organizations (RICO) Act. In order for RICO claims to survive a motion to…

By John Hanna A small Kansas town has agreed to pay $850,000 to a former reporter at its weekly newspaper to end her federal lawsuit over a police raid of the paper’s offices in 2023 that ignited a national furor over press freedom. Now-retired Marion County Record reporter Phyllis Zorn said in her lawsuit that the raid violated press freedoms and protections from unreasonable law enforcement searches guaranteed by the U.S. Constitution. She also said it almost immediately led to health problems, causing the return of potentially life-threatening seizures that had been controlled for years with medication. Zorn’s attorney, Randy…

By Mike Scott Bell & Hudson Insurance Agency has built its business around a simple idea that insurance is ultimately about people, relationships, and keeping promises. In fact, it has been doing that since the late 1800s. That philosophy has helped the western Massachusetts independent agency remain locally owned through ongoing mergers, consolidation, and change around it. That is no small task and is why this year’s recognition has particular meaning for President and CEO Matthew Phaneuf. Bell & Hudson previously won Insurance Journal’s Best Agency to Work For in the East in 2011, when his father, James Phaneuf, owned…

There is a 6-to-1 ratio of retirement-eligible veterans to young professional entrants in the insurance industry, which means hiring new talent and developing existing talent is vital. And despite efforts by many organizations to keep emerging professionals engaged, the industry is far from filling the enormous gap these looming retirements will create. The issue? Formal mentorship programs often fail to provide young talent with counsel, guidance, and encouragement that truly is effective in their careers. Mentorship does not require a formal process. Rigid approaches strip the authenticity out of professional development. Successful mentorship is built on proximity, feedback, and relationship…

By Mike Scott Higginbotham has grown from a small Fort Worth insurance agency founded in 1948 into one of the nation’s largest independent insurance brokerages, with more than 4,500 team members and 150-plus offices across 19 states. But even as the company has expanded, its leaders say one thing has remained constant: a culture built around its people. That culture helped Higginbotham receive the most nominations of any finalist in this year’s Best Agency to Work For survey. “Knowing that our own people took the time to nominate us in such [high numbers] is something we’re incredibly proud of,” said…

By L.S. Howard The reinsurance industry’s robust earnings and abundant capital, evident since 2023, have led to increasing competition and a softening market. “The key question is whether reinsurers can maintain underwriting discipline or will irrational competition emerge, leading to another traditional soft market cycle,” according to AM Best. The ratings agency said the “question is hardly a new one,” given the experience of reinsurance cycles over many years. “The next 12 months may ultimately determine whether the market is entering a new era of sustained underwriting discipline or continuing down the path of yet another traditional soft market cycle,”…

Eric Andersen, new CEO of American International Group (AIG), offered an in-depth view of the company during his first earnings call at the helm, referring to opportunities within current marketplace conditions. Andersen said the market is going through a “transition from an extended phase of broad positive pricing into a more selective environment where profitability and growth are increasingly dependent on line-specific dynamics.” The dynamics include an influx of capacity in some spots, from excess & surplus lines carriers, delegated underwriting authority structures, and other sources, he told analysts. While these entrants have increased competition and put pressure on pricing–particularly…

By Ezra Amacher For over four decades, Swingle Collins & Associates has built a reputation for doing what’s right for its clients and for the people who work at the Dallas, Texas-based agency. The firm’s leadership team works intentionally at investing in talent and technology, making the agency a place where employees feel like they’re part of a collaborative mission. That’s according to the employees who nominated Swingle Collins, Insurance Journal’s Best Agency to Work For Gold Award winner for the South Central region. “I’ve seen a lot of workplaces from the inside throughout my career, and what struck me…