Industry News
Farmers to Resume Offering Key Lines of Business Insurance in California
Farmers Insurance says it will resume accepting new business commercial multi-peril applications for auto service & repair, habitational, manufacturing, real estate and wholesale distribution ...
EverPeak Launches, Offers Workers Comp for Hard-to-Place Industries
EverPeak Insurance, in partnership with an "A"-rated national carrier to provide financial backing for its policies and supported by the nationally top-rated workers comp carrier Pinnacol Assurance, ...
What Risks Do Advanced AI Models Pose in the Wrong Hands?
The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most ...
Catastrophe Bonds Use Models Underestimating Climate Risks, Investors Say
The risk models that helped drive one of the most lucrative bets of 2023 are increasingly being tested by smaller weather shocks fueled by climate change. Catastrophe bonds and other insurance-linked ...
Nuclear Verdicts Surged to $14.5 Billion in 2023: Report
Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were "thermonuclear," or more than $100 million, according to a new study by research firm Marathon ...
Liberty Mutual Posts $1.5B Net Income for Q1, Reversing Loss
Liberty Mutual Holding Company on Thursday reported first-quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year. The combined ratio for the first ...
AM Best: Social Inflation Key Factor in Rise of Loss Severity
Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense ...
Fannie and Freddie Hit Pause on Replacement-Value Rules for Home Insurance
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don't carry full replacement-value ...