Industry News
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 ...
Report: 75% of Small Businesses Had Workplace Injuries; Mental Health a Growing Concern
Three-quarters of small businesses reported a workplace injury in the past year, while mental health-related injuries grew to become the most common workplace injury, a report using data from more ...
Is State Farm General a Sinking Ship? California Emergency Rate Request Dropped to 17%
Lawyers for State Farm General, the California Department of Insurance and Consumer Watchdog presented opening arguments in a hearing to determine the fate of State Farm's request for an emergency ...
AccuWeather: Severe Storms in Central US Cause $80-$90B in Damages, Economic Loss
A multiday severe weather outbreak in the central U.S. caused an estimated $80 billion to $90 billion in total damage and economic loss, according to a preliminary estimate from AccuWeather. From ...
Insurance Industry Contemplates Knock-On Effect of Tariffs to Claims, Consumers
Insurance industry analysts, economists and trade associations have continued to look at the potential effect of President Donald Trump's tariffs. About a month after Trump looked to impose steep ...