Industry News
Climate Activists’ Attacks on Paintings Add to Insurers’ Worries About Threats to Art
Climate activists' attacks on some of the world's most precious paintings have added to insurers' worries about the threat to art from climate change itself — concerns seen as leading to higher art ...
Florida Special Session on Insurance Slated for Dec. 12-16
It hasn't been made official by the governor's office, but Florida legislative leaders have set a date for a second special session to tackle property insurance issues — Dec. 12 through Dec. ...
NAIC Adds ‘Deep Concerns’ to FIO Bid to Collect Climate Change Data From Insurers
In a letter to the Treasury's Federal Insurance Office, the National Association of Insurance Commissioners expressed its "deep concern" over a proposal to collect data on climate-related risks from ...
Q3 Combined Ratio for U.S. P/C Industry Highest in 5 Years
The U.S. property/casualty industry posted a combined ratio of about 106.6 in the third quarter — the highest in five years, according to an analysis by S&P Global Market Intelligence. In ...
Calif. Supreme: Unclear Policy May Require Insurer to Defend Yahoo From Privacy Lawsuits
A liability insurer may have a duty to defend Yahoo Inc. from class-action lawsuits that alleged it violated the Telephone Consumer Protection Act by sending its customers unwanted text messages, the ...
Liberty Mutual Explores $1 Billion Sale of Europe Businesses
Liberty Mutual Holding Co. is exploring the sale of its businesses in Spain, Portugal and Ireland, according to people familiar with the matter, joining other American insurers retreating from the ...
Property-Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Reinsurance rates for property-catastrophe business should increase by well over 10 percent when contracts are renewed in January 2023, according to a commentary from Fitch Ratings. Fitch said the ...
Executives on the Move at Hamilton, Marsh, Amwins
Hamilton Insurance Group Ltd. announced the appointment of Alex Baker as group chief risk officer, effective Jan. 1, 2023, subject to regulatory approval. Baker will report to group CEO Pina Albo and ...