Tom Jacobs

Staunton

Reporter at S&P Global Market Intelligence

Reporter on insurance industry for @SPGMI_Insurance. Opinions my own, not my employer's. Husband, father, U.S. Navy veteran, @Yankees fan, @nyjets fan. 🖖

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Articles

U.S. Insurers Remain Stable Amid Market Volatility and Tariff Risks

1 week ago | beinsure.com | Tom Jacobs

S&P Global Ratings reports that U.S. insurers have sufficient capital and liquidity to absorb current market volatility, including disruptions linked to recent tariff measures, without any immediate effect on credit ratings or sector outlooks. The announcement of wide-ranging tariffs by the US administration, followed by a temporary pause on April 9, triggered notable reactions across global financial markets.
Calif. insurance regulator looks to close coverage gap for businesses, HOAs

Aug 5, 2024 | spglobal.com | Tom Jacobs

Expanded insurance coverage for homeowner and condo associations in California is the centerpiece of another round of changes planned for the state's insurer of last resort. The California FAIR Plan Association, according to a July 26 agreement with the state's Department of Insurance, said it is starting work on the regulator's plan to expand insurance coverage for farms, builders, businesses with multiple buildings and homeowners and condo associations.
Top insurtechs rally as property and casualty earnings season begins

Jul 19, 2024 | spglobal.com | Tom Jacobs

Several publicly traded insurance technology companies saw their stocks rise sharply this week as earnings kicked off in earnest for the property and casualty space. Through the first four trading days of the week, insurance technology (insurtech) companies Hippo Holdings Inc., Lemonade Inc. and Root Inc. saw their stocks rise by at least 14%. Hippo posted the largest increase at 29.1% as of market close July 18, while Lemonade was up 15.6%. Root was higher by 14.2%.
Top insurtechs rally as P&C earnings season begins

Jul 18, 2024 | spglobal.com | Tom Jacobs

Several publicly traded insurance technology companies saw their stocks rise sharply this week as earnings kicked off in earnest for the property and casualty space. Through the first four trading days of the week, insurance technology (insurtech) companies Hippo Holdings Inc., Lemonade Inc. and Root Inc. saw their stocks rise by at least 14%. Hippo posted the largest increase at 29.1% as of market close July 18, while Lemonade was up 15.6%. Root was higher by 14.2%.
Hurricane Beryl's early start highlights changing risk environment

Jul 10, 2024 | spglobal.com | Tom Jacobs

Hurricane Beryl's early start highlights changing risk environment Vehicles sit in floodwater in Houston, Texas, after the passage of Hurricane Beryl on July 8. Source: Brandon Bell/Getty Images for Getty Images While US insurers can handle the losses from Hurricane Beryl, the record-breaking early appearance of a Category-5 storm signals an evolving and more unpredictable risk environment for the industry.
Customer benefits are key as insurers embrace AI - Hippo CEO

Jun 4, 2024 | spglobal.com | Tom Jacobs

Customer benefits are key as insurers embrace AI – Hippo CEO ➤ As the insurance industry comes to grips with artificial intelligence, Hippo Holdings Inc. CEO Rick McCathron discusses how the the Palo Alto, Calif.-based insurance technology company is exploiting this new technology. ➤ In its first-quarter results, Hippo revealed that its net loss ratio plunged year over year to 87% from 273%, while total generated premium jumped 20% to $294 million.
Root, Hippo stocks recover ahead of earnings after double-digit declines

Apr 29, 2024 | spglobal.com | Tom Jacobs

Shares in Root Inc. and Hippo Holdings Inc. recovered some momentum in the last few days after enduring double-digit declines over the two previous weeks. Both insurtechs were at their highest closing price for the year on April 5, with Root finishing the day at $82.90 and Hippo at $24.02. However, by the close of the market on April 18, Root had fallen 38% to $51.43 and Hippo was at $19.69, an 18.1% decline.
Shares in managed care insurers drop as Medicare Advantage payments fall short

Apr 5, 2024 | spglobal.com | Tom Jacobs

Shares in managed care insurers drop as Medicare Advantage payments fall short Shares in US managed care insurers fell during the week of April 1 on news that government payments to companies that run Medicare Advantage programs will be lower than expected in 2025.
Consumer checkup: Rising US auto insurance costs creating a 'toxic problem'

Mar 28, 2024 | spglobal.com | Tom Jacobs

Consumer checkup: Rising US auto insurance costs creating a 'toxic problem' A tree branch rests on a car after tropical storm Hilary moved through Sun Valley, Calif., on Aug. 21. The cost of private auto insurance and vehicle repairs have increased significantly over the past year.
Trump's appeal bond quest highlights surety market's thirst for liquidity

Mar 22, 2024 | spglobal.com | Tom Jacobs

The $464 million verdict against former President Donald Trump in a civil fraud lawsuit has highlighted the preference of surety underwriters for liquid assets. Trump, in an effort to file an appeal of the judgment against him in the suit filed by New York State Attorney General Letitia James, reached out to a range of insurers asking them to issue a surety bond covering the entire amount of the award.