The U.S. property/casualty industry recorded a $9.3 billion net underwriting gain in the first three months of 2024, according to a recently published AM Best report. The gain marks a reversal of an $8.5 billion loss recorded in the same …
Rate increases do not necessarily erode customer satisfaction with auto insurers, according to the J.D. Power 2024 U.S. Auto Insurance Study. The consumer intelligence company reported that when customers have a high level of trust in their insurer, customer satisfaction …
A legal assault on the U.S. Securities and Exchange Commission is chipping away at its powers to oversee Wall Street and is likely to intensify with two imminent Supreme Court rulings. A U.S. appeals court last week overturned a major …
Executive Summary: While insurance leaders plan to use machine learning capability in their pricing and underwriting processes, only a small proportion actually have embraced the technology. They need to take the next step because these are essential tools that will …
Kia America is recalling nearly 463,000 Telluride SUVs — and urging owners to park their cars outside and away from other structures until an issue posing a fire hazard is fixed. The front power seat motor on the affected Tellurides …
A U.S. congressional committee will accuse the biggest Wall Street firms on Tuesday, in a report seen by Reuters ahead of its publication, of colluding with advocacy groups to force companies to shrink their greenhouse gas emissions. The report is …
Broker WTW said commercial lines insurance increased overall by an average of 6.3% during the first quarter. Quarterly price increases have been about 6% since the global pandemic, WTW reported in its Commercial Lines Insurance Pricing Survey (CLIPS). Carriers during …
A new bipartisan bill would authorize National Flood Insurance Plan payouts for structures condemned due to chronic erosion or unusual flooding. Introduced earlier this month by Congresswoman Chellie Pingree (D-Maine) and Congressman Greg Murphy (R-N.C.), the Prevent Environmental Hazards Act …
Everest Insurance Names Buonpane to Head of Casualty Specialty Lines and Industry Practices Everest Insurance North America, headquartered in Warren, New Jersey, hired Stephen Buonpane to the newly created role of senior vice president, casualty specialty lines and industry practices. …
A woman who claimed in a lawsuit that GSK’s discontinued heartburn drug Zantac caused her breast cancer dropped her case shortly before it was set to go to trial in Illinois state court on Monday, the company announced. GSK said …
