Industry News
Fitch: U.S. Insurance Market Forecast to Withstand Losses From Large Hurricane This Year
With ample capital, Fitch Ratings' latest annual 'U.S. Hurricane Season' report indicates U.S. property and casualty (P/C) insurers and reinsurers can absorb losses if a large hurricane makes ...
Reinsurance Execs Take on Extreme Challenge
Four intrepid reinsurance executives from Convex and Swiss Re are rowing from Monterey, Calif. to Hawaii as part of the "World's Toughest Row – Pacific." It's all for charity—and, of course, for ...
IIHS: Subaru Bicycle Detection Tech Shows Promise
Subaru's EyeSight crash avoidance system reduced crashes with bicyclists traveling parallel to the road but was only modestly successful in reducing crashes with bicycles overall, a new study from ...
Wind, Hail Contribute to Allstate’s May Cat Losses Estimated at $893M
Allstate reported estimated catastrophe losses for the month of May at $885 million, or $699 million after tax. May month catastrophe losses include 12 events estimated at $893 million, with ...
Bill Cosby Sex Assault Accusers Seek to Expand Statute of Limitations
A group of women who accused Bill Cosby of sexual assault and were dismayed when he had his conviction overturned and left prison are trying again to seek justice in the courts, by urging states to ...
Insurer Must Defend Firm Sued for Selling Facial Recognition Program to Police
An ambiguous coverage exclusion prevents a liability insurer from dodging the cost of defending a data broker that was sued after selling the Chicago Police Department access to a facial recognition ...
Farmers Halts Homeowners Policies in Florida
Farmers Insurance confirmed it has halted sales of new homeowners policies in Florida just as the new hurricane season is getting underway. The insurer cited rising costs as the reason. "With ...
U.S. P/C Records $8.2 Billion Underwriting Loss in Q1: AM Best
A rise in first-quarter losses in the homeowners insurance line of business primarily put U.S. property/casualty underwriting results in the red, according to AM Best. The U.S. P/C industry booked an ...