Commercial Lines
Executives Deliver Divergent Views on Sustainability of Workers Comp Profits
Property/casualty insurance industry leaders delivered two different views on whether workers compensation will continue to be a bright spot on the industry profit picture during an investor ...Zurich Insurance Posts Highest-Ever Operating ROE for 2023
Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ...
Trade Secret Insurance Could One Day Protect ‘Trillions’ in Assets
Mary Guzman already has helped develop a new insurance coverage once in her career. Now, she's leading the charge of another. In the early 2000s, when she worked as a regional practice leader at ...Amazon Steers Consumers to Higher-Priced Items, Lawsuit Claims
Amazon.com was sued in a proposed U.S. class action accusing the online retailer of violating a consumer protection law by steering hundreds of millions of shoppers to ...
Ransomware Hackers Stole More Than $1 Billion in 2023
Ransomware gangs stole more than $1 billion in 2023, the largest amount ever recorded, according to a report published Wednesday by blockchain analysis firm Chainalysis ...
Appeals Court Rules Insurers Not Obligated to Defend Opioid Distributor McKesson
The role drug distributor McKesson Corp. had in the opioid crisis was no accident, meaning the company is not entitled to defense costs related to litigation against it. McKesson Corp. appealed a ...Global Ransomware Attacks Reach Record High in 2023, Says Corvus
Despite law enforcement actions, fourth-quarter 2023 ransomware incidents still surpassed 2022 by nearly 70 percent, and the number of active ransomware groups grew by 34 percent. Corvus Insurance ...Compared to Prior Quarter, All Commercial Lines Saw Renewal Rate Up in Q4: Ivans
Ivans Index found the average premium renewal rate increased year-over-year for all major commercial lines except workers compensation, but every line of business averaged rate increases at renewal ...Not So Stable: AM Best Analyzes Commercial Segment’s Casualty Lines
Heading into 2024, AM Best maintained a stable outlook on the overall U.S. commercial lines sector. This was based on our expectation that the segment as a whole will ...