January 19, 2024
Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, an improvement from 2023, a report by Swiss Re Institute projects both 2024 …
January 19, 2024
A U.S. appeals court on Wednesday wrestled with whether the video-based social media platform TikTok could be sued for causing a 10-year-old girl’s death by promoting a deadly “blackout challenge” that encouraged people to choke themselves. Members of a three-judge …
January 18, 2024
According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its private-auto insurance peers in the U.S. did the same. All 10 of the …
January 18, 2024
The US Supreme Court questioned a longstanding legal doctrine that gives federal agencies wide berth to interpret unclear laws as the justices heard two appeals that would constrain environmental, consumer-protection and financial regulators. The court is considering overturning a watershed …
January 18, 2024
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion, according to Gallagher Re’s annual Natural Catastrophe and Climate …
January 18, 2024
Alliant Insurance Services named Greg Zimmer chief executive officer, taking over for Tom Corbett, who has served as CEO for more than 30 years. The new leadership roles will take effect April 1, 2024. Zimmer joined Alliant in 1998 as …
January 18, 2024
As we’ve seen for the past several years, severe weather is no longer a seasonal or geographic issue—climate risk has now made these events possible all year long and in every state. The statistics back up this frightening reality. November’s …
January 18, 2024
Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in …
January 17, 2024
A group of freelance writers and editors has sued the U.S. Department of Labor, claiming the Biden administration’s new rule making it more difficult for companies to treat some workers as independent contractors is illegal and should be struck down. …
January 17, 2024
New bi-partisan legislation meant to keep the regulation of insurance companies with state regulators was introduced in the Senate on Jan. 16. The Business of Insurance Regulatory Reform Act of 2024 from senators Tim Scott, R-S.C., and Joe Manchin, D-W.V., …