Claims / Legal
Allstate’s May Pre-Tax Catastrophe Losses Reached $202M
Allstate said it got hit with $202 million in pre-tax catastrophe losses in May, generated from eight separate events. The cost actually reached $259 million, but favorable reserve re-estimates for ...
Zika Risk May Trigger Limited Insurance Coverage for Sporting Events
Continued Zika virus warnings may dampen summer sporting events such as the Rio de Janeiro-hosted Summer Olympics in August, as insurers weigh the risk of insuring such events in the midst of another ...
After several years in which much of P&C was focused on restoring rate adequacy and profitability, the market is finally...
Commercial Auto Saw ‘Meaningful’ Price Hikes in Q1: Willis Towers Watson
Poor claim results continue to drive "meaningful" price increases for commercial auto, but commercial insurance as a whole barely budged during the 2016 first quarter versus last year. Willis Towers ...
The Latest Launches From Chubb, Beazley and Allianz
Chubb debuted new coverage targeting the U.K./Ireland middle market. Beazley unveiled an endorsement meant to help address weather-related low revenue at an event. Allianz has a new service for ...
Early June’s Bad Weather Poor Predictor For Atlantic Hurricane Season
A week into June and two tropical storms have drenched the U.S. South. Perhaps it would be a good time to stock up on duct tape, plywood and sandbags. Unfortunately, using the first few weeks to ...
Family Cites ‘Colossal Miscommunication’ in Lawsuit Over Fatal Amtrak Crash
A lawyer filing suit over a fatal Amtrak crash near Philadelphia blamed a "colossal miscommunication" for the deaths of two rail workers killed when a train traveling 106 mph struck a backhoe on the ...
May Global Disasters Could Cost Insurers at Least $7B in Claims: Aon Benfield
Global disasters led to at least $7 billion in claims during May as insurers aid the recovery process following wildfires, floods, and storms, according to Impact Forecasting, Aon Benfield's ...
AIR Worldwide: Unusual Circumstances Behind Floods in France, Germany, Belgium
Officials have only begun to tally economic and insured losses after widespread flooding hit much of France, Germany and parts of Belgium. But catastrophe-modeling firm AIR Worldwide said the ...