Industry News
California Wildfires Could Spark Insurance Moratoriums, Other Challenges
As wildfires continue to wreak havoc across California, experts say one part of the recovery process that is proving particularly challenging for high-net-worth homeowners is simply accessing ...
Too High? Too Low? BMS Analyzes Early Wildfire Insured Loss Estimates
Industry analysts' early estimates of insurance industry losses for the January 2025 California wildfires have already grown from $8 billion to $40 billion-plus—with many noting that it's too early ...
Class Action Settlements Eclipse $40B in 2024; PFAS Suits Emerging
Once again, settlements from class-action litigation topped $40 billion in 2024, according to an extensive analysis of more than 1,400 cases by law firm Duane Morris. Gerald L. Maatman, partner at ...
Texas Lawsuit Alleges Allstate Illegally Collects Driver Data
The State of Texas on Monday filed a lawsuit against Allstate, alleging the insurance company illegally collects driver data through secretly embedded software in mobile apps and then uses the data ...
Moody’s to Acquire Geospatial AI Firm CAPE Analytics
Moody's Corp. has agreed to acquire CAPE Analytics, which provides geospatial AI intelligence for residential and commercial properties. Moody's said the deal will create a property database capable ...
Central Insurance Reorganizes Into Mutual Holding Company Structure
Central Insurance, a property/casualty mutual insurance company, and its affiliates have reorganized under Ohio law into a mutual holding company structure, the company announced. The reorganization, ...
Executive Moves: AIG Names Flatt as Global CUO; Texas Mutual Appoints Carter as Chief Transformation Officer
American International Group announced that Christopher Flatt, currently head of AIG North America Alternative Channels, has been named global chief underwriting officer, effective immediately. He ...
Mercury General Wildfire Losses Will Hit Reinsurance Cover. One Event?
Mercury General Corporation said it expects losses from wildfires burning in California since Jan. 7 to exceed its $150 million reinsurance retention, without providing a specific dollar estimate of ...