Industry News
No Ransomware Cover in BOP Policy, Ohio Supreme Court Rules
A businessowners insurance policy did not provide coverage for software damaged by a ransomware attack because there was no direct physical damage or loss, the Ohio Supreme Court ruled. "Computer ...
Social Media Buzz: Top LinkedIn Posts About Carrier Management News
Throughout the past week, we have devoted portions of our daily newsletters to republishing news and feature articles that were the most viewed by members of the Carrier Management audience. But ...
Flood Insurance Coverage Perceptions Out of Whack With Reality: Survey
Three quarters of over 1,000 homeowners surveyed across 40 states earlier this year said they have flood insurance coverage, but the true number is less than 5 percent, according to a report ...
What to Expect: Commercial Insurance Rates Stabilizing, WTW Forecasts
With last year's 25 percent rate hikes for public directors and officers liability insurance dropping to 2.5 percent, and 150 percent hikes for cyber cover sinking to 25 percent, significant ...
What to Expect: 2022 Combined Ratio Near 102; Stable or Better 2023
In a report published in early December, Fitch Ratings said a modestly improving earnings picture in coming months points to a "neutral" sector outlook for U.S. property/casualty insurers—and over ...
Executives on the Move at Erie, Chubb, Ategrity Specialty
Last week, Erie Insurance, Chubb and Ategrity Specialty announced promotions that will take effect in 2023. Ategrity's transition fills the top spot in the organization--chief executive ...
Tech Bytes: New Partnerships at Precisely, HSB, Blink Parametric
Data provider Precisely announced its partnership with OneShield, a digital core systems provider for property/casualty insurers. The collaboration means that customers of OneShield can now take ...
Progressive Reports Favorable Ian Development
Insurer Progressive reduced its estimate of gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian by $400 million, pushing the total down to $1.6 billion. ...