Industry News
Homeowners Less Satisfied With Their Claims Experience: J.D. Power
Overall customer satisfaction with homeowners insurance claims fell to a five-year low, according to a new study by J.D. Power, as nearly every insurer's scores were dragged down by slower cycle ...
Supreme Court Asked to Resolve Federal Drug Law vs. State Medical Marijuana Laws Debate
The U.S. Supreme Court has been asked to address whether federal drug law that criminalizes possession of marijuana invalidates state orders requiring employers and their workers compensation ...
Aon Discloses ‘Cyber Incident’ Amid Mounting Concerns Over Hacks
Aon Plc is investigating a "cyber incident" that the insurance brokerage said impacted a limited number of its systems. The incident, identified Friday, "has not had a significant impact" on ...
What Is the Key to Underwriting in an Everchanging Cyber Risk Landscape? Change With It
There is plenty of talk about the everchanging cyber risk environment, but what about the insurance industry that underwrites these risks? As some contemplate a need for more stability in cyber ...
Berkshire’s GEICO Posts 2021 Profit But Much Lower Than 2020
Although Berkshire Hathaway's biggest insurance operation GEICO reported a 63 percent drop in pretax underwriting income in 2021, overall the conglomerate's insurance and reinsurance operations saw ...
What About Independent Agents? Root’s Focus on Embedded Insurance, CEO Says
While he didn't say that distribution of Root Insurance products through independent agents was off the table in 2022, the InsurTech's chief executive officer did say the company is now laser-focused ...
Pandemic, Other Risks Weigh on Minds of Middle-Market Execs
Most middle-market firms experienced a recovery following the height of disruptions caused by COVID-19 and remain mostly optimistic about the global economy, but other business risks loom large. ...
Lemonade Execs Expect ‘Peak Losses’ in 2022
With unfavorable development and product mix changes propelling fourth-quarter and full-year loss 2021 ratios into the 90s—up 20 points over comparable 2020 periods—Lemonade guided shareholders ...