Markets
Bad-Faith Payouts Are Penalties, Not Insurance Benefits, Florida Supreme Court Says
Randy Willoughby's lawyers turned a $10,000 uninsured motorist policy into a $4 million bad-faith settlement with his auto insurer. Then they won a $30 million jury verdict against the co-owner of ...
AIG Continues to Take Cautious Approach to Excess D&O in North America
Though American International Group (AIG) saw a turnaround in underwriting income in the third quarter, driven largely by business in North America, the company's chief executive said financial lines ...
Aon: Homeowners ROE Improved with Timely Rate Hikes
A new report on the state of the homeowners market in the U.S. highlights how insurance carriers used timely rate actions to thwart residual inflationary pressures, improving the overall prospective ...
California FAIR Plan Increases Commercial Coverage Limits to $20M Per Location
The California FAIR Plan Association is offering increased commercial coverage of up to $20 million per location. Prior to the adjustment, the maximum limits for commercial coverage were $8.4 million ...
Price Hikes, GEICO Pullback Boost Berkshire Operating Results; Investment Losses Mar Bottom Line
Warren Buffett's company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns—particularly the insurers—generally ...
Travelers to Buy Cyber MGU Corvus for $435 Million
The Travelers Companies said it has agreed to buy cyber managing general underwriter Corvus Insurance Holdings Inc. for about $435 million for its middle-market excess and surplus lines ...
Property Insurers to Provide Data to State Insurance Regulators to Better Understand Rates
A nationwide data call was put out recently to property insurers to assist state insurance regulators in better understanding property markets, coverages and protection gaps, according to the ...
Lemonade Expects to Be in the Black Within Three Years
While Lemonade is still burning cash and reported a net loss on the bottom line of its third-quarter income statement, the InsurTech expects both situations to reverse by year-end 2026. The cash ...