The Federal Reserve Bank of New York warned that credit scores — the all-powerful number that can determine if a consumer is able to qualify for a loan, rent a home or even buy car insurance — might have gotten …
When Hurricane Sandy barreled over New York City and the East Coast in 2012, it caused $63 billion in damage, making it one of the costliest storms in U.S. history. Now, scientists have estimated that climate change pushed that price …
Cyber attacks, climate change, geopolitical unrest — organizations agree on what some of the emerging risks that pose threats are. But they lag in understanding just how much of a threat they can be. Despite a broad consensus across large …
Even as law firms made adjustments to sustain their operations through the COVID-19 pandemic, they were unable to avoid the rising costs of malpractice claims. Indeed, the time period beginning in 2019 through mid-2020 marked the worst two years on …
Digital transformation is imperative to remaining competitive in the London market, according to the results of a new survey published by the International Underwriting Association (IUA). Companies identified simplifying processes to enable processing without manual intervention as their highest strategic …
After years of delays during the Trump administration, the EPA released its new climate indicators, which show Americans are already feeling effects on their health and safety. Heat waves across the country are more frequent, more intense, and last longer. …
Written premium for 2020 was 13% below the previous year, and was at the lowest since 2012, a new report out on Thursday shows. The Workers’ Compensation Rating Bureau of California Quarterly Experience Report, which is as of Dec. 31, …
The commercial auto insurance segment posted its best underwriting result in a decade in 2020, thanks to continued big rate increases and a big drop in driving due to the coronavirus pandemic. According to a Fitch Ratings report, the commercial …
Despite a slight improvement in net income in 2020, U.S. medical professional liability (MPL) insurers saw their sixth consecutive year of underwriting losses, according to a new AM Best report. According to the new Best’s Special Report, “Continued Uncertainty Clouds …
Insurers face multi-billion-dollar losses from U.S. hailstorms during April, according to Aon’s Global Catastrophe Recap report, which each month analyzes the impact of natural disaster events worldwide. The report said severe weather in the U.S. resulted in outbreaks of thunderstorms, …
