Industry News
Is State Farm General Too Big to Fail? Calif. Rate Hearing Concludes
"Too big to fail"—a phrase associated with interconnected publicly traded financial services companies in the wake of the 2008 financial crisis—was revived in a new context last week. During a ...
AM Best: Tariff Uncertainty Could Lead to Credit Rating Changes for Insurers
According to AM Best, the balance sheets of insurers can be pressured by the stock and bond market volatility caused by recent tariffs, resulting in financial exposure that could lead to some changes ...
Triple-I Launches Legal System Abuse Awareness Campaign in Louisiana
Triple-I has launched a comprehensive awareness campaign in Baton Rouge, La., highlighting legal system abuse and its impact on the state's economy to encourage consumers to voice their support for ...
In Fight Over Insurance, Neighbors Crowdsource LA Fire Contamination Data
All sense of survivors' guilt was fleeting for those residents whose homes remained standing after wildfires ripped through the Los Angeles area three months ago.
Rising Civil Unrest, Political Violence Remain Top 10 Risk for Global Businesses: Allianz
Soaring levels of civil unrest and political violence are a key concern for businesses of all sizes as well as their insurers, according to report published by Allianz Commercial. The impact of civil ...
Liberty Mutual CEO Sweeney Elected Chairman, Long Steps Away
Liberty Mutual's Timothy M. Sweeney, president and chief executive officer, has been elected chairman of Liberty Mutual Holding Co. Sweeney succeeds, David H. Long, who is retiring. Long has been ...
Roof Repair and Replacement Costs Up Nearly 30% Since 2022: Verisk
Roof repair and replacement cost value totaled nearly $31 billion last year — up nearly 30% since 2022, according to a new report from Verisk. The strategic data analytics and technology provider ...
Remote Access Tools, Supply Chain Key Drivers of Cyber Claims: Report
Ransomware incidents continue to increase in frequency and severity, with attacks rising 20 percent in 2024 and VPNs seen as the biggest contributor, according to a new report by insurance security ...
California Wildfires Had Little Impact on Reinsurers’ Risk Appetite During April Renewals
Property-catastrophe capacity remained adequate to meet demand during the April 1 renewals for U.S. reinsurance buyers, despite the record losses from California's January wildfires, according to Aon ...