Commercial Lines
COVID-19 Can Be Occupational Disease, Colorado Court Says in Worker Death Case
For the first time, a Colorado appellate court has concluded that COVID-19 can be an occupational disease that is compensable under the state's Workers Compensation Act. The Colorado Court of Appeals ...
Reserve Strengthening for Casualty Lines Not Over: Moody’s
If personal auto insurance loss reserves are developing adversely, can commercial general liability be far behind? That's the gist of one of the questions that analysts from Moody's Investors Service ...
Insurer Chubb Readies $350M Payout Tied to Baltimore Bridge Collapse
Chubb, which had insured Baltimore's Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to the collapsing of the ...
AIG Profit Exceeds Expectations on Lower Catastrophe Losses
American International Group Inc. (AIG) reported profit above analysts' estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted ...
E&S Property In Focus: Competition Up, Price Momentum Waning
During separate earnings conference calls this week, executives of two property/casualty specialty writers—W.R. Berkley Corp. and RLI Corp.—signaled a changing E&S property insurance market. ...
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers
With its personal lines business benefiting from the impact of rate increases earning into the book, and the commercial lines insurance premium changes staying in double-digits, Travelers reported ...
Time-Tested Loss Reserving Methods Challenged: AM Best
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, ...
Inflation Contributes to Rising Loss Costs for U.S. Commercial P/C Insurers: Fitch
Inflation is bringing rising loss costs for U.S. commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three U.S. insurers — Cincinnati Financial Corp., HCC ...