A recent report from The U.S. Chamber of Commerce Institute for Legal Reform (ILR) has found that nuclear verdicts of $10 million or more are on the rise. Looking at verdicts from 2013 to 2022, ILR said the median nuclear …
CNA Financial Corp. said it is promoting Doug Worman, currently executive vice president and global head of underwriting, to president and chief executive officer starting in 2025. Current CEO Dino E. Robusto will transition to a role of executive chairman …
USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based reciprocal exchange said revenue was up 17% year-over-year to …
According to the Insurance Research Council (IRC), the average homeowners insurance expenditure has become less affordable for U.S. consumers over time. Looking at the the years 2001 to 2021 — the latest year in which relevant data is available — …
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024, according to The Council of Insurance Agents and Brokers’ Q1 Market Survey. With the 7.7% average increase in Q1, there have …
The leading pet insurer in the U.S. said it is dropping about 100,000 policies starting this spring, citing inflation in the cost of veterinary care. Nationwide Pet, the leading provider of pet insurance for dogs, cats, birds and exotic animals, …
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 …
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 …
The National Oceanic and Atmospheric Administration (NOAA) today predicted an 85% chance of an above-average Atlantic hurricane season, with up to 25 named storms. “The upcoming Atlantic hurricane season is expected to have above-normal activity due to a confluence of …
With recent news that Johnson & Johnson is going forward with a third bankruptcy plan of a subsidiary to settle tens of thousand of lawsuits that its talc products cause cancer, a class-action lawsuit was filed today alleging the company’s …
