May 10, 2024
FloodFlash has added a dealer program in its efforts to support more U.S. businesses ahead of a hurricane season that is widely anticipated to be amongst the worst in recent memory. Stored on large, flat areas of often impermeable land, …
May 10, 2024
Liberty Mutual Holding Company on Thursday reported first quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year. The combined ratio for the first three months of 2024 improved to 95.8 …
May 10, 2024
Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The report, “Corporate Verdicts Go Thermonuclear,” found …
May 10, 2024
After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. Personal auto insurers’ innovative processes include automated claims management and …
May 10, 2024
The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. Government and …
May 9, 2024
Hospital operator Ascension reported disruptions to its clinical operations on Wednesday due to a suspected cybersecurity incident and advised business partners to temporarily disconnect from its systems. Earlier this year, UnitedHealth, the largest U.S. health insurer, had reported a cyberattack …
May 9, 2024
When Progressive’s chief executive officer weighed the words that should go into the management discussion section of the company’s first-quarter 10-Q report, she considered two possibilities to describe anticipated growth for the balance of 2024. “Was ‘maximize’ growth the right …
May 9, 2024
Three insurance companies have rejected Chevron’s claim over the seizure last year of an oil cargo by Iran, according to a complaint filed on Tuesday in a U.S. court in California. The Chevron-chartered tanker Advantage Sweet was boarded by Iranian …
May 9, 2024
Commercial property insurer FM Global announced the launch of a renewable energy unit to help clients in the transition to alternative energy through research and innovation, and to support the overall advancement of the renewable energy industry. FM Global’s Renewable …
May 9, 2024
If personal auto insurance loss reserves are developing adversely, can commercial general liability be far behind? That’s the gist of one of the questions that analysts from Moody’s Investors Service asked—and answered—in a new report on the U.S. property/casualty insurance …