Industry News
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud
GEICO is taking aggressive action against medical firms in Florida and New York, accusing them of leading multimillion-dollar, no-fault auto insurance fraud schemes. In a lawsuit filed this month in ...
Growth Momentum Continues for Program Business: TMPAA
The program business sector is growing at a rate that outpaces the broader commercial insurance market. Between 2022 and 2024, program business premiums grew 40 percent to $110.8 billion in 2024, ...
Disaster Relief Fund Hits Critical Low as Shutdown Endures
As the US government shutdown hurtles through a fourth week, the main source of federal funding for disaster relief efforts is running critically low, according to people familiar with the matter and ...
Global Commercial Insurance Rates Drop 4% in Q3, for 5th Quarterly Decline: Marsh
Global commercial insurance rates fell, on average, by 4 percent in the third quarter of 2025, repeating the 4 percent decline recorded in Q2 2025, according to the latest Global Insurance Market ...
Recent Years’ Commercial Auto Loss Costs Dog Selective Insurance in NJ
Lower levels of catastrophe losses more than offset impacts of prior-year reserve boosts to Selective Insurance's third-quarter and nine-month combined ratios. But behind improved underwriting ...
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry
The recent 15-hour or so outage at Amazon Web Services (AWS) again raised questions about the potential for systemic loss to the cyber insurance market, but losses from the temporary lapse in cloud ...
Chubb Books Record P/C Underwriting Income, Combined Ratio in Q3
Insurer Chubb booked third-quarter net income 20.5 percent higher than a year ago at $2.8 billion—with record P/C underwriting income of $2.26 billion. Underwriting income was 55 percent more than ...
U.S. Saw Record $101 Billion in Weather Losses Through June
The U.S. saw more than $101 billion in losses from severe storms and fires in the first half of 2025, setting a record. That's according to a database of billion-dollar disasters that a nonprofit has ...