Markets
UN Report Details Extent of Climate Change on Gulf Coast
Hurricane Harvey dumped more than 50 inches of rain on parts of the Texas coast in 2017. Then in 2020, ferocious winds from Hurricane Laura destroyed homes across coastal Louisiana. Hurricane Ida hit ...
APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners
U.S. insurers, already hammered by extraordinary losses caused by natural disasters, are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property ...
Insurers Urged to Stress Test Cyber Portfolios for Russian Attack Potential
Cyber risk and analytics firm CyberCube said it has seen cyber attacks on Ukrainian government services, infrastructure and other industries and it urges the insurance industry to re-evaluate ...
Purdue Pharma, States Agree to New Opioid Settlement
OxyContin maker Purdue Pharma reached a settlement Thursday over its role in the nation's deadly opioid crisis that includes virtually all U.S. states and thousands of local governments, with the ...
Why You May See Less of Progressive’s Flo In Your State
As insurers like Progressive try to catch up with auto insurance loss severity trends with rate hikes, delays in getting filing approvals in some states may prompt other actions until rate adequacy ...
Russian Cyber Attacks May Test Insurer War Exclusion Policy Language
The Russian invasion of Ukraine has increased the risk of cyber attacks and potential claim costs for property/casualty insurers globally that offer cyber coverage, the majority of which is ...
‘Essential’ MGAs, Other DUAEs Face Inflation, Staffing Pressures: AM Best
Taking a deep dive into the world of managing general agents and other delegated underwriting authority enterprises, AM Best reports that premiums generated by DUAEs are climbing, and interest in MGA ...
Colorado Wildfire Victims Hit ‘Green’ Building Code Hurdle
Some homeowners recovering from Colorado's most destructive wildfire in history, which decimated entire neighborhoods near Denver late last year, say they could end up paying tens of thousands of ...