This week's updates from P&C Specialist - July 27, 2022

Insurers are not doing much California dreamin' these days. The Golden State was in the news this week on a variety of fronts. Auto insurance giant Geico is closing down local agency offices in California as the carrier’s rising loss ratio and inadequate rate increases continue to plague its bottom line. The California Department of Insurance is hitting the brakes on approving any rate increases for the near future. We rounded up some insurer CEOs discussing the issue.

Hiring is keeping CEOs up at night too. But in a silver lining of sorts, the recent layoffs and hiring freezes across the technology sector could ease a historically tight market for insurers in need of engineers and other technologists. We also caught up with The Hanover's CIO talking recruitment strategy.?

Keep reading

Geico to Shut Down Agency Offices in California

Calif. Regulator Tells Auto Carriers to Wait Even Longer for Rate Hikes as Backlog Hits 27 Months

What P&C CEOs Have Said About California’s Refusal to Hike Auto Rates

P&C Carriers Look to Pounce on Insurtech Layoffs

Hanover CIO Discusses a Two-Pronged Hiring Strategy

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