Industry News
Insurers Refuse to Pick Up Bill for Billions in Opioid Claims
A multibillion-dollar bill is coming due for the U.S. opioid epidemic, and insurers for some of the largest drug makers, distributors and pharmacies are refusing to help pay for it. A Delaware ...
Argo Group CEO Rehnberg Takes Health Leave
Kevin J. Rehnberg, chief executive officer of Argo Group International Holdings Ltd., announced on March 2, 2022 that he would be temporarily unable to perform his duties for health reasons. ...
APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners
U.S. insurers, already hammered by extraordinary losses caused by natural disasters, are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property ...
Purdue Pharma, States Agree to New Opioid Settlement
OxyContin maker Purdue Pharma reached a settlement Thursday over its role in the nation's deadly opioid crisis that includes virtually all U.S. states and thousands of local governments, with the ...
Why You May See Less of Progressive’s Flo In Your State
As insurers like Progressive try to catch up with auto insurance loss severity trends with rate hikes, delays in getting filing approvals in some states may prompt other actions until rate adequacy ...
Researchers Say New FEMA Flood Maps Underestimate Flood Risk
Researchers have used artificial intelligence to predict where flood damage is likely to happen in the continental United States. The findings suggest that recent flood maps from the Federal ...
Russian Cyber Attacks May Test Insurer War Exclusion Policy Language
The Russian invasion of Ukraine has increased the risk of cyber attacks and potential claim costs for property/casualty insurers globally that offer cyber coverage, the majority of which is ...
‘Essential’ MGAs, Other DUAEs Face Inflation, Staffing Pressures: AM Best
Taking a deep dive into the world of managing general agents and other delegated underwriting authority enterprises, AM Best reports that premiums generated by DUAEs are climbing, and interest in MGA ...