May 31, 2024
Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all states. According to a letter sent to employees and other stakeholders …
May 31, 2024
Nationwide’s Chetan Kandhari said the company is working to build a bionic workforce. Maybe that brings to mind robots, futuristic technology and sci-fi imagery, but Kandhari said no one should fear robots replacing humans. Bionic simply means that biological components …
May 31, 2024
The U.S. property/casualty insurance segment’s net investment income hit a record $73.9 billion in 2023, bolstered by the higher interest rate environment, according to a new AM Best report. The Best’s Special Report, “U.S. P/C Insurers Achieve Record Investment Income …
May 31, 2024
American International Group and a group of its excess and surplus lines subsidiaries have dropped claims against three former AIG executives who launched Dellwood Insurance Group but its claims against the E&S lines insurer live on. AIG earlier in May …
May 30, 2024
The FBI said it has dismantled what is likely the world’s largest botnet — an army of 19 million infected computers — that was leased to hackers for cybercrimes. The botnet, which was spread across more than 190 countries, enabled …
May 30, 2024
The U.S. Supreme Court has revived a claim by the National Rifle Association (NRA) that a former New York regulator allegedly violated the organization’s First Amendment rights by coercing insurers and banks to terminate their business relationships with the NRA …
May 30, 2024
Nissan is urging the owners of about 84,000 older vehicles to stop driving them because their Takata air bag inflators have an increased risk of exploding in a crash and hurling dangerous metal fragments. Wednesday’s urgent request comes after one …
May 30, 2024
Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the reinsurance business of Howden. These decreases follow a …
May 30, 2024
More than 32.7 million residential properties from Texas to Maine are at risk of moderate or severe damage sustained from hurricane-force winds, a new report shows. The large number of at-risk homes in CoreLogic’s 2024 Hurricane Risk Report, which comes …
May 30, 2024
Business leaders place cybersecurity, the economy, regulatory challenges and global instability among their top concerns for the coming year, fueled by factors such as AI, climate change, nuclear verdicts and political unrest. The annual Marsh McLennan Agency Business Insurance Trends …