Industry News
More Americans on the Road This Thanksgiving Holiday
An estimated 55.4 million travelers will head 50 miles or more from home over the Thanksgiving holiday travel period, an increase of 2.3 percent over last year and the third-highest Thanksgiving ...
U.S. Contractors, Insurers Overlooking Some Safety Improvements in Construction
Many American construction firms are failing to implement obvious and inexpensive safety measures that could save lives, reduce injuries and avoid costly insurance claims. And many insurers are not ...
Financial Services Firms Acknowledge ‘Awful’ Culture in UK Sexism Inquiry
Representatives from finance firms across the City of London said more work was needed to tackle gaping gender disparities in the industry, even after companies have made gains in the past five ...
Hyundai, Kia Must Face Insurers’ Lawsuits Over Vehicle Thefts
A U.S. judge rejected bids by Hyundai and Kia to dismiss litigation by several hundred insurers seeking to recoup more than $1 billion they claim to owe drivers whose vehicles were stolen or damaged ...
Report: January Busiest Month for Retail Sector Workers Comp Claims
More workers compensation claims in the retail sector occurred in January compared to the busy holiday months of November and December, according to the 2023 AmTrust Retail Risk Report. Despite ...
Up and Down: InsurTech Funding Headed for Six-Year Low
Trackers of InsurTech deals revealed a 19-20 percent uptick in InsurTech funding for the third-quarter of 2023,compared to second-quarter totals, but year-to-date deal volume is less than half of ...
Artificial Intelligence Not Main Cause of Recent Insurance Layoffs: AM Best
AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that "it is too soon to cite AI ...
Hurricane Otis’ Insured Losses Estimated at $2.5B-$6B: Moody’s RMS, Verisk
Moody's RMS, the risk modeling and solutions company, estimates private market insured losses from Hurricane Otis to range between $2.5 billion and $4.5 billion. On the other hand, Verisk puts ...