In an industry as dynamic and essential as public and private transportation, bus companies stand at the forefront of connecting communities, fostering commerce, and enabling mobility. However, despite their critical role, these companies are currently navigating through choppy waters—particularly in the realm of securing reliable...
Updated 5/7/2024 to update the combined ratio and net earned premium numbers from 2023. Rick J. Lindsey is the President, CEO and Chairman of the Board of Prime Insurance Company and Prime Property & Casualty Insurance Inc. Mr. Lindsey is a licensed surplus lines broker in...
Insurance agents have experienced many business disruptions over the past couple of years, as they work to provide insureds with the policies they need most while adapting to fast-changing market conditions. Many insurance companies have worked to “de-risk” their businesses recently, developing exclusions around COVID-19,...
updated 5/6/24 to reflect 2023 "financial strength" numbers Hard Market Insurance: How We Can Help Prime Insurance Company is the solution for a hardening market. First and foremost, we have never canceled a class of business, and we don’t plan to. We believe a key to our...
Today’s hard insurance market is the result of years of carrier unprofitability due to weak underwriting, premium declines and pricing erosion as well as weakening terms and conditions, further exacerbated by social inflation, higher loss activity, a rise in catastrophic losses, and lower interest rate...
As the COVID-19 pandemic continues, insurers also continue to face a hardening market. Directors and Officers insurance and excess liability insurance are particularly hard-hit. Now more than ever, it is vital to ensure your clients have insurance. Prime Insurance Company is still offering coverage in...
In a hardening insurance market, insurance producers have to grapple with increasingly challenging risks and increasing insurance prices. In the past, insurance producers have dealt with hardening insurance markets for various reasons, from natural catastrophes to the economic downturns. The latest threat to the world...
Before 2020’s COVID-19 pandemic truly took hold, we were already entering a hardening insurance market. With the economic impact of the new coronavirus still unfolding, it is clear that we are now in a hard market. In a hard market, insurance is more expensive and more...
