Industry News
Viewpoint: Ranking Hurricane Ian Among the 10 Worst Natural Disasters in U.S. History
We are in the early stages of sifting through the debris of Hurricane Ian and calculating the financial and human toll it took after coming ashore in Southwest Florida with 150 mph winds and 20 ...
Global Insurance Rates Continue Rising at Slower Levels; Cyber Outpaces Other Lines
Global insurance pricing continued to rise during the third quarter, which saw commercial insurance premiums increase an average of 6 percent, down from 9 percent in Q2, according to Marsh's Global ...
Insurers Say Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
Auto insurers in the U.S. are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving behavior and sky-high jury awards, ...
Court Dismisses 32 COVID-19 Business Insurance Cases Against Erie Insurance
A federal judge has dismissed 32 lawsuits over COVID-19 business interruption insurance claims against Erie Insurance, concluding the claimants failed to "plausibly plead" that they are entitled to ...
Everest Insurance Launches Branches in France and Germany
Everest Insurance, the insurance division of Everest Re Group Ltd., announced its further expansion into the European market with the opening of two new branches in Paris, France and Düsseldorf, ...
NCCI: Almost One-Quarter of COVID Claimants Suffer Prolonged Symptoms
Nearly a quarter of workers compensation claimants who were treated for COVID-19 experienced persistent symptoms or a relapse months later, according to a new study by the National Council on ...
Chubb’s Q3 Numbers: Net Income Falls on Realized Losses; P/C Profits Up 15%
In spite of incurring nearly $1 billion in pre-tax net losses from Hurricane Ian, Chubb reported a combined ratio of 93.1 for the third quarter of 2022 last night, representing $710 million in ...
Berkley Cooling On Professional Lines, Firing Up Property Cat Re Engines
Property cat reinsurance: "More." Professional liability insurance: Not so much. The president and chief executive officer of W.R. Berkley Corp., Robert Berkley, Jr., shared his company's appetite ...