Industry News
Insurers Found Liable for $101M Payment Into Lead Paint Abatement Fund
Taking a calculated risk by selling a hazardous product isn't the same as intentionally causing harm. For that reason, insurers must cover a court judgment that requires the company that sold Dutch ...
Insurance Commissioners Endorse Climate Risk Disclosure Standard for Insurers
The National Association of Insurance Commissioners (NAIC) announced at its spring meeting that a bipartisan group of state insurance regulators has adopted a new standard for insurance companies to ...
Non-Modeled Disaster Losses Are Growing Component of Insurance Claims: RMS
Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry's ...
Commercial Insurance Price Hikes Drop to Single Digits But Cyber Triples
There still are no price decreases showing up on WTW's regular update of rate changes for more than 30 commercial insurance lines, but many buyers are now seeing last year's double-digit jumps ...
Malloy Departs SiriusPoint, a Year After Company’s Launch
Dan Malloy has left SiriusPoint Ltd. a year after the company was formed from the merger of specialty reinsurer Third Point Reinsurance and Sirius International Insurance Group, a multiline insurer ...
PFAS, Microplastics, Baby Food: Emerging Casualty Risks Keep Coming
There is no longer a need to ponder the "next asbestos" because the current litigation environment and the recent pace of additions to the list of emerging risks and trends in casualty insurance is ...
AIG Considers Cutting Insurance for Russia, Ukraine
AIG, one of the world's biggest commercial insurers, is considering cutting cover for Russia and Ukraine to shield itself from the risk of hefty claims as sanctions ratchet up and the war drags on, ...
Chubb’s Greenberg: On War, Ex-CAT Reporting and Insurance Profits
When Chubb published its 2021 annual report online this week, it contained more than the details of the best year in the company's history. As in past years, the chief executive commented on world ...