Claims / Legal
Polished Gem GEICO Fuels Berkshire Hathaway Operating Gains
The work that GEICO's CEO has done to "repolish" Berkshire Hathaway's "long-held gem" got a special shout-out in Berkshire Chair Warren Buffett's 2024 annual report to shareholders this weekend. ...
Notable Rating Actions This Week: Mercury General, Sentry’s The General
Among the ratings announcements from AM Best this week were those reacting to an uncertain California wildfire loss estimate and a Midwest personal lines acquisition. *** Mercury General's AM Best ...
EEOC Says It’s Going After ‘Anti-American Bias’ in the Workplace
The U.S. Equal Employment Opportunity Commission said it will enforce antidiscrimination laws against employers that "illegally prefer non-American workers. In a Feb. 19 announcement EEOC's Andrea ...
Bill Aims to Drive Down NYC Taxi Drivers’ Insurance Costs. But Will It?
The New York City Council's transportation committee heard testimony last Monday on a proposal to lower the Personal Injury Protection (PIP) insurance coverage requirement for for-hire drivers from ...
How to Operate in Today’s ‘Bananas’ Casualty Insurance World
Leaders of the casualty insurance practices of a global insurance carrier and a North American specialty brokerage offered insights for insurance buyers and sellers to deal with today's casualty ...
Mercury Sees Subro, Re Recoveries Cutting Most of $1.6B+ Wildfire Losses
Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ...
Securities Class Actions Increase Again in 2024; AI-Related Filings Double
The number of securities class action filings increased for the second consecutive year in 2024, with artificial intelligence (AI)-related filings more than doubling from the previous year, according ...
Why the LA Wildfires Should Not Have Been a Surprise Loss
The January 2025 LA Wildfires caused unprecedented losses, but those losses should have been anticipated by insurers. The purpose of catastrophe models is to prepare insurers for losses that haven't ...