With the Red Sea crisis roiling shipments of everything from cars to energy, it’s a matter of time before soaring costs and supply-chain strains show up in companies’ earnings reports. Several firms are already warning of the impact. Electric-vehicle maker …
Florida is planning to borrow as much as $3.8 billion to infuse a state fund that reimburses property insurers for losses when homes are damaged or destroyed by hurricanes. The Florida State Board of Administration Finance Corporation expects to sell …
The vast majority of insureds expect claim payouts to take no more than five days, a new survey shows. The survey shows 82% of customers expect claim payouts to take no more than five day, and 1% of respondents were …
Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in …
Anyone who has lived through a natural disaster and then applied to the federal government for assistance knows that it can be a lengthy, frustrating and bureaucratic process. New rules announced Friday by the federal agency in charge of emergency …
Nearly 75% of the U.S. could experience damaging earthquake shaking, a recent U.S. Geological Survey report shows. A USGS-led team of more than 50 scientists and engineers in the latest USGS National Seismic Hazard Model created a color-coded map that …
The US and UK’s decision to hit back at Houthi militants after weeks of attacks on merchant shipping in the Red Sea has only escalated the chaos across the shipping industry, underscoring the threat of an enduring supply-chain crisis as …
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion, according to Gallagher Re’s annual Natural Catastrophe and Climate …
According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a weighted average rate increase of 17.6%—and its private-auto insurance peers in the U.S. did the same. All 10 of the …
Rapper and entrepreneur Sean “Diddy” Combs has withdrawn his lawsuit against Diageo as part of a settlement with the London-based spirits giant. Combs and Diageo “have now agreed to resolve all disputes between them,” the two parties said in a …