As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical to watch include pharma class actions, the …
Insurance rating agency AM Best today said it has shifted its outlook of the U.S. personal auto insurance segment to stable from negative thanks to improving loss ratios of the top 20 carriers this year. Underwriting results have improved significantly, …
Global non-life premiums are expected to hit a decade-high growth level of 4.3% in 2024, following the repricing of risk over the past several years in response to elevated claims, according to Swiss Re’s sigma. “Premium rates are now moderating, …
Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens …
The topic of nuclear verdicts took center stage at this year’s Target Markets Annual Summit in Scottsdale, Arizona, where a panel of carriers and reinsurers discussed rising settlement costs amidst an uncertain litigation environment. Panelists representing Lloyd’s, Markel, MunichRe and …
A new study examining potential unintentional bias in auto insurance finds that while Black and Hispanic drivers pay more than other drivers for coverage, they also have more claims and driving infractions. The study’s authors accept that higher losses and …
The Texas Windstorm Insurance Association Board of Directors pegs losses from Hurricane Beryl at $455 million. The TWIA board met last week to review information related to the agency’s 2025 budget. The meeting presented new information on TWIA losses from …
Insurance carriers may want to examine policy language – and what information they request from insureds – after the U.S. Supreme Court let stand a lower court’s ruling which could force Argo Group to cover claims that a wood-treating company …
What emerging risks could electric vehicles present as they become more widespread? Verisk experts recently explored the current EV landscape and hypothesized what insurance concerns the vehicles could prompt in the future. During a webinar presentation, Greg Scoblete, a principal …
After ditching two-thirds of its office space and selling its Chicago headquarters, Allstate Corp. realized that even employees who prefer working remotely still need a place to gather with their coworkers from time to time. In the coming months, a …