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, the 7.7% average increase in Q1 compared to 7% …
Hospital operator Ascension said on Monday that it “worked around the clocked” over the weekend to handle a recent ransomware attack that disrupted operations. “We are focused on restoring systems safely. We are making progress, however, it will take time …
According to Chubb CEO Evan G. Greenberg, the insurance industry’s underwriting practices for a number of financial lines are “simply dumb.” In a call with analysts to discuss Chubb’s earnings for the first quarter, Greenberg said rates for financial lines …
Zurich North America was ordered by a California jury to pay three former employees a total of about $80.2 million to end a wrongful termination case earlier this month. Melinda Brantley, Nicholas Lardie, and Daniel Koos worked as claims examiners …
American International Group and a group of its excess and surplus lines subsidiaries have filed suit against Dellwood Insurance Group and three former AIG executives who launched the nationwide E&S lines insurance holding company about a month ago. According to …
The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to “AI washing.” The firms, Delphia Inc. and Global Predictions Inc, will pay a total of $400,000 in civil penalties for making false …
Overall commercial property/casualty premiums increased slightly for all account sizes to 7% on average in the fourth quarter 2024, continuing a trend that has now last more than 6 years. According to The Council of Insurance Agents and Brokers’ Q4 …
Allstate Corp. on Thursday reported January pretax catastrophe losses of $276 million. The Northbrook, Illinois-based insurer reached its $150 million threshold to report catastrophe losses following several months of low totals. Consolidated catastrophe losses for the fourth quarter 2023 totaled …
Think cyber events don’t have long tail? Consider this: Home Depot is still in a legal battle to get $50 million in coverage from two insurers nearly a decade after hackers used point-of-sale machines to hack the retailer. In a …
While everyone may be talking about potential risks associated with generative artificial intelligence, a new directors & officers report from Allianz highlights a range of current concerns associated with environmental, social, and governance issues. Agree or not with the premise …