Industry News
U.S. Home Insurance Still Priced Too Low for Climate Risk, Says Swiss Re Chair
This has been a year of insurance sticker shock in the US. But the man who provides insurance to insurers thinks maybe the shock still isn't enough to steer people away from risk in a changing ...
Ryan Specialty Announces Succession Plan: Pat Ryan to Exec Chair, Turner to Be CEO
Ryan Specialty Holdings Inc. said company founder, chairman and chief executive Patrick G. Ryan will move to an executive chairman role and Timothy W. Turner will take over as CEO. Turner is ...
Increases in Comp, Auto Injury Medical Costs Continue: Report
Medical costs have risen 11 percent in workers comp and 5 percent in auto first-party over the past four years nationwide, despite slowing over the past two years, according to new data released by ...
AM Best: U.S. P/C Industry Suffered Second Straight Year of $20B+ Underwriting Losses in 2023
Unprofitable results in the U.S. private passenger auto and homeowners/farmowners market insurance segments led to a second straight year of net underwriting losses in the property/casualty industry ...
Workers Sue Disney, Say They Were Wrongly Induced to Move to Florida
Disney workers are suing their employer, claiming they were fraudulently induced to move from California to Florida to work in a new office campus only to have those plans later scrapped amid a fight ...
Facial Recognition Startup Clearview AI Settles Privacy Suit for $50M
Facial recognition startup Clearview AI reached a settlement Friday in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects' privacy rights, a deal that ...
Investing in Climate Resilience Really Pays Off: Study
Weather-related catastrophes are increasing in frequency and intensity, and billion-dollar disasters are becoming the norm. The U.S. averages about 10 disasters costing ...
Berkshire, Starr in Top Cyber Ranking; Global Outlook Stable: AM Best
According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a 'stable' outlook despite a stall in premium growth. Analysts at AM Best issued a ...