Teen drivers and drivers 65 years and older – two age groups at a higher risk of being involved in an automobile accident – are more likely to be driving vehicles that are less safe, putting them at even higher …
Ratings analysts A.M. Best and Moody’s are expecting property/casualty insurers and reinsurers to suffer meaningful losses from Hurricane Laura. A.M. Best expects losses from Hurricane Laura to place added stress on its rated insurance companies’ balance sheets, which it adds …
U.S. property/casualty insurance underwriting income dropped 5.5 percent in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19 costs are to blame, according to an A.M. Best report. …
San Francisco-based Verily, an Alphabet company, is creating a subsidiary, Coefficient Insurance Co., to compete in the medical stop loss market. The new business will be backed by Swiss Re Corporate Solutions, the commercial insurance unit of the Swiss Re …
In an opinion that could inform coronavirus business interruption claims now before various courts, a federal appeals court has ruled that a Florida restaurant is unable to collect on its insurance for business interruption losses that it says were caused …
Cruise operator Carnival Corp. said on Monday it launched an investigation into a ransomware attack on one of its brand’s information technology systems. Carnival, which operates AIDA, Carnival and Princess cruises among others, in a regulatory filing said the attack …
A federal judge in California disappointed a law firm suing Travelers Insurance over coronavirus lockdown related business interruption claims in refusing to remove its case to state court and denying its request for a dismissal or stay of a countersuit …
The legal panel on multidistrict litigation (MDL) has denied a proposal to consolidate cases brought by multiple businesses against various insurers for coronavirus-related business losses. The U.S. Judicial Panel on Multidistrict Litigation rejected the proposals brought by plaintiffs in 15 …
Florida-based Roper Technologies has agreed to acquire insurance software maker Vertafore in an all-cash transaction valued at approximately $5.35 billion. Roper said the Vertafore management team led by CEO Amy Zupon will continue to lead the business from its Denver, …
Fashion firm Ralph Lauren Corp. is suing its insurer to recoup what it says has been a huge drop of two-thirds of its revenues in the first quarter alone due to the pandemic. Ralph Lauren Corp. (RLC) maintains that Factory …
