E&S/Specialty

New Florida legislation, if signed into law by Gov. Rick Scott, would provide relief to the state's private market insurers and potentially attract new private capital to the Sunshine State.

New Florida legislation, if signed into law by Gov. Rick Scott, would provide relief to the state's private market insurers and potentially attract new private capital to the Sunshine State.

U.S. insured losses in March from severe weather are expected to pass $1.8 billion, according to Impact Forecasting, the catastrophe-model-development center for Aon Benfield.

While the use of telematics-based insurance to date has primarily been seen in monitoring personal-vehicle use, insurers are increasingly relying on the underwriting tool in the commercial-fleet and trucking industries.

As telematics data becomes an increasingly valuable and more widely accepted tool for writing risks, its adoption is rapidly growing in the commercial sector.

A rise is cargo theft reporting in 2011 is the result of more data-sharing between law enforcement and the transportation and insurance industries, says CargoNet.