Industry News
APCIA Says Property Insurance Market ‘Hardest in a Generation’
A combination of historic high inflation and a growing frequency of natural catastrophes is creating the hardest market in a generation for property insurance, the American Property and Casualty ...
Report: 119K People Hurt by Riot-Control Weapons Since 2015
More than 119,000 people have been injured by tear gas and other chemical irritants around the world since 2015, and some 2,000 suffered injuries from "less lethal" impact projectiles, according to a ...
Strategies For A Shrinking Auto Insurance Market
The increasing popularity of electric vehicles (EVs), autonomous vehicles (AVs) and shared-mobility platforms will shrink the overall personal lines market 31 percent by 2035, according to a recent ...
The Latest Launches From Selective, CompScience, Vertafore
Selective Insurance, a business and personal insurance carrier, introduced an ergonomic risk assessment tool that can identify high-risk body positions or movements that may lead to severe injuries ...
TikTok, Transit Agencies Face Wrongful Death Suit Over New York Teenager’s Death
Chinese company ByteDance and its popular social media platform TikTok are facing a wrongful death suit in New York over the 2022 death of a teenager. The suit alleges that TikTok sent thousands of ...
AccuWeather: California Storms Added up to $8B in Damage and Economic Loss
AccuWeather issued preliminarily estimates on Thursday showing the total damage and economic loss from the series of recent intense storms to hit California to be an additional $6 billion to $8 ...
Reinsurers Average 12.1% Premium Growth for 2022: Gallagher Re
Reinsurers' premium growth averaged 12.1 percent for full-year 2022 and 10.2 percent for the fourth quarter, which was driven by improved pricing for commercial lines and reinsurance business, ...
High Inflation Hiked P/C Claims Costs Up to 7.5% in 2022: Swiss Re
High inflation alone led to an increase in property/casualty claims of 5-7.5 percent across five key markets in 2022, according to Swiss Re research. "In 2023, we expect that inflation should lead to ...