Industry News
Wildfires, Storms Fuel 2025 Insured Losses of $108 Billion: Munich Re Report
Global insured losses from natural disasters fell to $108 billion last year, Munich Re said in a report on Tuesday. That compared with an inflation-adjusted $147 billion in 2024, the German reinsurer ...
The Hartford Expands Tech Team With New Office in Columbus
The Hartford announced the opening of a new technology hub in Columbus, Ohio. Located in Columbus's Easton Town Center, the office will hold approximately 75 employees focused on AI, cloud ...
Expense Ratio Analysis: AI, Remote Work Drive Better P/C Insurer Results
In separate reports last week, AM Best and Morgan Stanley analyzed P/C insurance industry expense ratios, with one reporting a 2.4-point drop over the past decade and the other projecting another ...
10 Highest Class-Action Settlements in 2025 Eclipsed $70B Total: Duane Morris
The value of the 10 highest class-action settlements in 2025 exceeded $70 billion for the first time ever. In fact, the total was nearer to $80 billion across all areas of litigation, according to ...
Berkshire Hathaway Raises New CEO Abel’s Salary to $25 Million
Berkshire Hathaway said Jan. 6 that it raised the salary of new Chief Executive Officer Greg Abel to $25 million, far exceeding the $100,000 annual salary that his predecessor Warren Buffett accepted ...
MAPFRE Accuses AAA of Violating Long-Time Exclusive Marketing Agreement
The biggest auto insurer in Massachusetts is at odds with the AAA Northeast division it says is violating an exclusive 20-year joint marketing agreement that is worth $200 million a year in premiums ...
California Bill Would Double Insurer Penalties for Unfair Claims Practices
A bill that promises legislative reform in California to speed up disaster recovery for homeowners and renters through improved insurance coverage and expanded consumer protections was introduced on ...
Insurance Costs, Climate Concerns Factor Heavily in U.S. Home Buying Decisions
Though nearly half of U.S. homeowners are considering a move, this year is expected to bring greater market stability, according to an inaugural report on homeownership trends by Kin. The ...