New rules proposed by the U.S. Securities and Exchange Commission on cybersecurity and climate impact disclosures may generate more lawsuits that will generate claims against directors and officers (D&O) policies, panelists said during the Professional Liability Underwriting Society’s recent conference …
A group of insurers — including subsidiaries of AIG, Liberty Mutual, Allianz, Sompo International, and Travelers — are challenging an approval of the Boy Scouts of America’s $2.46 billion bankruptcy reorganization plan to allow the organization to settle tens of …
As you read this you are probably finishing up planning for 2023 (or thinking, “Yikes, I need to get started!”). If you’re like me, this is not your favorite thing to do. Our industry tends to attract doers rather than …
The Federal Emergency Management Agency has projected an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5 billion to $5.3 billion, including loss adjustment expenses. The losses include flood insurance …
Electric vehicles (EVs) were once a rare sight. Now, we regularly pass them on highways and park next to them at shopping centers. There are over 8 million new EVs being produced and sold annually today. This number is projected …
A number of years ago, I worked with an agency that specialized in insuring residential condominiums. Their personal lines department focused on insuring unit owners, including homeowners who owned condos as secondary homes. Their commercial lines department insured many dozens …
Over a third (36%) of companies who paid a ransom to cyber criminals went on to be targeted for a second time, according to the latest Cyber Readiness Report from Hiscox. In addition, more than four in 10 (41%) of …
Directors and officers liability pricing fell 14.7% in the third quarter, according to a recent survey. Aon’s Financial Services Group’s Q3 2022 pricing index for the quarter ending on September 30 decreased to 1.57 from 1.96 in the prior-year quarter, …
Agency errors and omissions premiums have risen on average for three years in a row, according to Insurance Journal’s annual Agency E&O survey. Some 70.5% of respondents saw an increase in their agency E&O renewal premium in 2022. That’s up …
A federal judge has dismissed FedEx from a lawsuit filed by relatives of five of the eight people who were fatally shot last year at an Indianapolis warehouse by a former employee of the shipping giant. U.S. District Judge James …
