Claims / Legal
FEMA Shifts More Risk to Private Markets With First NFIP Catastrophe Bond
In another step shifting risk to private markets, the Federal Emergency Management Agency (FEMA) said it intends to secure additional reinsurance for the National Flood Insurance Program (NFIP) ...
14 Named Storms Predicted for ‘Above Average’ 2018 Atlantic Hurricane Season
After the costliest Atlantic hurricane season in history last year, early forecasts indicate 2018 will be above average. Look for 14 named storms, and there's a greater than normal chance of a major ...
Equifax Fails to Prevent Mass. Data Breach Lawsuit From Advancing
Massachusetts can move forward with a lawsuit accusing credit reporting firm Equifax Inc of failing to safeguard its databases or provide prompt notice of a breach that exposed the personal data of ...
Better Ways Needed for Human Drivers to Take Over Autonomous Vehicles When Necessary: Experts
Autonomous cars should be required to meet standards on their ability to detect potential hazards and better ways are needed to keep their human drivers ready to assume control, U.S. auto safety and ...
Predictive Analytics Help Commercial Lines Insurers Boost Profit, Reduce Underwriting Volatility: A.M. Best
The increasing use of predictive analytics among commercial lines insurers has helped improve their bottom lines and led to more balanced underwriting cycles, A.M. Best concluded in a new special ...
Data System in Third U.S. Pipeline Company Hobbled After Cyber Attack
A third U.S. pipeline company reported its electronic system for communicating with customers has stopped working, a day after a cyberattack resulted in a similar shutdown. The Department of Homeland ...
April Reinsurance Renewals Continue Flat Pricing Trends: Willis Re Report
Reinsurance buyers were able to renew loss-free programs at broadly flat pricing levels during the April 1 renewals – continuing the trend seen at the January renewals, according to a new Willis Re ...
Insured Losses Exceed $421M From January’s Calif. Mudslides
A series of deadly mudslides along Southern California's coast in January caused more than $421 million insured losses, the state's insurance commissioner said on Monday. Insurers received more than ...