Industry News
FEMA Index Offers Closer Look at Social Risks in Disaster Resilience
The free digital tool that the U.S. government gives communities to help evaluate local risks from 18 natural hazards is getting a makeover. The Federal Emergency Management Agency introduced the ...
Near $27B Underwriting Loss in 2022 Largest for U.S. P/C Insurers Since 2011
Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the ...
Florida Regulators Now Reviewing Rate Hikes of 14%, 62% and 103%
Three Florida insurance carriers, one large and two small, are seeking approval for major rate increases, with one condominium policy increase as high as 103 percent. Citizens Property Insurance ...
The Latest Launches From Insurity, Coalition, Draftrs
Insurity, a provider of cloud-based software for insurance carriers, brokers, and managing general agencies, announced its Sure Underwriting Workbench solution is the first of its cloud-based ...
Swiss Re Faces $6.3M Claim Over Sex Discrimination, Unfair Dismissal
A former Swiss Re underwriter, who last year won a sex and maternity discrimination and unfair dismissal case, is seeking 5.1 million pounds ($6.3 million) in compensation and told a London court she ...
PG&E Pledges $18 Billion to Cut Wildfire Risk in California
PG&E Corp. plans to invest $18 billion in wildfire prevention through 2025 following back-to-back seasons of devastating blazes linked to the utility's network of wires and other ...
Chocolate Factory Blast Highlights Combustion Risks
Last week's fatal blast at a Pennsylvania chocolate factory highlighted the combustibility of food plants in general and chocolate making in particular. The powerful explosion last Friday at R.M. ...
Boy Scouts of America Bankruptcy Plan Upheld Despite Insurers’ Objections
A federal judge on March 28 denied an appeal, largely made by insurers, to strike down the Boy Scouts of America's nearly $2.5 billion reorganization plan approved last year to allow the organization ...