Industry News
The Hartford Q4 Net Income Rises 36% on Commercial Lines Growth
Net income at The Hartford for the fourth quarter of 2021 ended at $729 million, a 36 percent increase from income of $537 million the same period a year earlier. For the year, net income was about ...
Markel Numbers ‘Thick’ on Underwriting, Investments, Ventures
Markel Corporation reported a "record-smashing" $628 million in underwriting profit for 2021, a figure that translated into a combined ratio of just over 90 for the year. Co-Chief Executive Officer ...
Insurer Groups Sue to Stop Washington Credit Scoring Regulations
The American Property Casualty Insurance Association, the Professional Insurance Agents of Washington, and the Independent Insurance Agents and Brokers of Washington jointly filed two legal actions ...
Natural Disasters Cost Insurers $116B in 2021, or 63% Higher Than Average: Gallagher Re
Insured losses from major natural catastrophes in 2021—excluding COVID-related losses—have so far reached an estimated $116 billion, the third largest total since 2011, and about 63 percent ...
Court Siding With Merck Over War Exclusion for Cyber Attack a Warning to Insurers
Last month the Superior Court of New Jersey ruled insurers cannot use a policy exclusion to avoid covering about $1.4 billion in damages Merck & Co. said it suffered from a spring 2017 cyber ...
Zurich NA Launches ‘100 Acts of Caring’ Initiative to Give Back to Community
Zurich North America launched a new initiative in February called "100 Acts of Caring." Zurich employees will give back to their communities in 2022 by completing a minimum of 100 acts of caring ...
Colo. Supreme Court the Latest to Decide if Claims Adjusters Can Be Held Personally Liable
For the third time in three years, a state supreme court is being asked to decide whether a claims adjuster can be held personally liable for bad faith. The Colorado Supreme Court on Jan. 11 heard ...
Allstate’s Net Income Down 50% in Q4 as Auto Claims Rise
Allstate Corp. said fourth-quarter 2021 net income plummeted 50 percent compared to results of the prior-year quarter as auto claim frequency and severity increased. Adjusted net income for Q4 was ...