Industry News
London Insurance Brokers Probed for Bribery and Corruption by UK Serious Fraud Office
A handful of London insurance firms are being investigated for bribery and corruption by the UK's Serious Fraud Office, according to people familiar with the probe. The fraud cops are examining the ...
Court Denies Insurer Use of Multiple Exclusions to Dodge Defending Insured
Everest Indemnity Insurance Co. is on the hook to defend an insured alleged to have improperly installed a fire suppression system under its errors and omissions policy because its various exclusions ...
Court Reverses Prior Coverage Decision on Target Cyber Breach: Chubb Must Pay
In an "extraordinary remedy" of a judgment from a year ago, a federal court judge in Minnesota reversed a decision that Target Corp. was not entitled to insurance coverage from Chubb for costs the ...
Rate Hikes, Telematics, Data Science Leading Allstate Back to Profit
For the second time this month, a personal auto insurance giant devoted an investor conference to the topic of rate hikes, with Allstate executives also assuring listeners the carrier has various ...
The National Alliance for Insurance Education & Research Launches New Self-Paced Courses
The National Alliance for Insurance Education & Research has launched five self-paced insurance license renewal and introductory classes on the topics of Ethics, NFIP Flood Exposures, Workers ...
Verisk Expects Japan’s Earthquake Will Cost Insurers $2B-$4B
The magnitude 7.3 earthquake that struck off the coast of Japan last week is expected to cost insurers $2-$4 billion in property losses, according to Verisk Extreme Event Solutions (formerly AIR ...
Russia’s Seizure of Foreign Jets Triggers Wave of Insurance Claims From Leasing Firms
Russia's move to transfer almost 800 foreign-owned jets to its own aircraft register amid foreign sanctions has triggered a wave of insurance claims from leasing firms whose fleets have effectively ...
Workers Reporting Injuries Earlier in Tenure, Carrier Study Reveals
An insurer's study of a decade of workers compensation claims reveals that injury reports in 2021 came from employees who hadn't been on the job as long as those who reported claims in 2011. On ...