Claims / Legal
Federal Trade Commission Reports Nationwide Fraud Losses Topped $10B in 2023
Consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark, and a 14 percent increase over reported losses in 2022, newly ...
After 18 Straight Years, Favorable Loss Reserve Development Streak Could End
In a new article published late last week, Fitch Ratings noted the prospect that 2024 could mark the end of a run of almost two decades of aggregate loss reserve releases for the U.S. ...
How Legal Finance Adds Value to Judgment Preservation Insurance
Successful litigants holding trial-court judgments have traditionally found themselves positioned similarly to mountaineers atop Mount Everest: After a long, brutal and ...
Federal Reinsurance for Cats: No Thanks, APCIA Says
Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers' issues with growing private reinsurance costs. But a trade group for carriers ...
Connecticut Extends PTSD Benefits to All Under Workers Comp
The new year brought with it an expansion of Connecticut's workers compensation benefits with regard to post-traumatic stress injuries or disorders (PTSD). Prior to January 1, only first responders ...
Should Carriers Worry About Workers Comp? Yes and No
Commercial lines outlooks are stable, rating agencies say, pointing to the bright spot of continuing profits in the workers compensation line. In addition, in early January 2024, NCCI confirmed that ...
2023 Class Action Counts Dip; Settlements Still Cost Billions
Class-action and government enforcement lawsuits continued to take a toll on corporate defendants in 2023, with ten $1 billion settlements and a total cost of $51.3 billion, according to a report ...
Another Title Insurer Hacked: Fidelity National Says 1.3M Affected
Title insurer Fidelity National Financial (FNF) said about 1.3 million customers have been impacted by a cyber attack it suffered last November. According to a filing with the U.S. Securities and ...