Personal Lines

A vote to delay flood-insurance rate hikes for up to four years will likely be delayed as the Senate decided to take up other issues.

In the past year and a half, there has been a turnaround in pricing for high-valued homeowners risks, as insurers readjust after several years of strong competition in this line, MarketScout CEO Richard Kerr says.

Fully autonomous self-driving cars will completely take over roadways before mid-century, predicts data analyst IHS Automotive, creating complex questions about accident liability and safety risk management to auto insurers and brokers.

The top three homeowners insurers in Texas are seeking to raise ratesone by up to 15%in 2014, the Dallas Morning News reports, but the states public insurance counselor tells PC360 she will challenge the requests.

Insurers in North Carolina submitted a rate filing for a statewide average increase in homeowners rates of 25.3%, a request that drew an angry response from the states insurance commissioner.

ACP Re Ltd. will acquire 100% of the outstanding stock of Tower Group International and merge Tower with a subsidiary. AmTrust will acquire the renewal rights of Tower Groups commercial lines insurance operations, and National General Holdings Corp. will acquire the personal lines renewal rights.