California could hold social media companies responsible for harming children who have become addicted to their products, permitting parents to sue platforms like Instagram and TikTok for up to $25,000 per violation under a bill that passed the state Assembly …
There has been a frenzy of agency acquisitions for many years now, with private equity firms and publicly traded brokers taking the lion’s share. These well-funded buyers are paying a premium well over what a local peer independent agency could …
The University of California system announced it will pay nearly $375 million to more than 300 women who said they were sexually abused by a UCLA gynecologist, bringing a record amount in total payouts by a public university in a …
J.D. Power found in a recent survey that auto insurance customer satisfaction with price has plummeted, driving a surge in policy shopping activity while dragging on the purchase experience index. “A perfect storm of record-high replacement costs, increased frequency and …
According to The Council of Insurance Agents & Brokers’ (CIAB) Commercial Property/Casualty Market Index, capacity for cyber insurance may be decreasing while demand is increasing, which could have driven cyber premium price increases of an average 27.5% during the first …
To counteract rising construction material costs that have increased about 26.7% the first four months of 2022, personal and commercial property insurers will continue to gradually increase rates, said Moody’s Investor Service. The rating agency said insurers have been “raising …
Following its successful placement of green bonds in 2020 and 2021, Munich Re has sucessfully placed its first green subordinated bond in a private placement to qualified institutional buyers in the U.S. market. By issuing this bond in the U.S. …
U.S. traffic deaths jumped 10.5% in 2021 to 42,915 — the highest number killed on American roads in a single year since 2005, U.S. regulators said in its preliminary estimate. The yearly increase is the highest reported since the National …
Two of my pet peeves involve certain types of coverage questions that I’ve received over the years. The first one begins with something like, “Does a [insert type of policy here] cover …?” The key word here is “a.” Does …
Platforms are having a moment. Should insurance companies care? Increasingly more firms from different industries say they offer platforms. Technology firms with which your insurance carrier or agency works, manufacturers making smartphones or tablets, payment solution firms like PayPal, and …
