Industry News
Record-Breaking Pace for U.S. Product Recalls, Says Sedgwick
The number of U.S. products recalled this year already has surpassed 1 billion, according to the U.S. product recall index recently released by Sedgwick's brand protection division. Only two other ...
Cyber MGA At-Bay Acquires Tech-Solutions Provider Relay
At-Bay, the San Francisco-based managing general agent, announced the acquisition of Relay, a technology solutions provider that enables the digital transformation of commercial insurance placements. ...
P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist: Triple-I, Milliman
The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto ...
COVID Impacts Linger in Courtrooms, Often a Disadvantage for Defendants
Courts have reopened and trials have resumed, but the impacts of COVID-19 continue to linger in the judicial system, a panel of claims litigation experts said during the Combined Claims Conference on ...
Lloyd’s Insurers Must Exclude State-Backed Cyber Attacks to Avoid Systemic Risks
Lloyd's insurers must exclude state-backed cyber attacks in standalone (or affirmative) cyber policies, according to a Lloyd's market bulletin issued this week. The exclusion would include liability ...
Insurers Anticipate Staffing Increase Over the Next Year Despite Recruiting Difficulty: The Jacobson Group
Most insurers (68 percent) plan to increase staff during the next 12 months, while only 5 percent anticipate a reduction in the number of employees, according to the Semi-Annual U.S. Insurance Labor ...
U.S. Traffic Deaths Hit 20-Year High in Early 2022
U.S. traffic deaths jumped about 7 percent in the first three months of 2022 to 9,560, the highest number of people killed on American roads in a quarterly period since 2002, regulators said on ...
Allstate Announces Executive Leadership Changes
Allstate announced that Glenn Shapiro, president, Property-Liability, has decided to retire effective Sept. 30. He joined Allstate as chief claims officer in 2016 and has held his current position ...