Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss ...
Industry News
Lemonade CEO Declares ‘Best Quarter Ever,’ Posts Narrowed Q4 Loss of $30M
InsurTech Lemonade reported a fourth-quarter 2024 net loss of about $30 million and a loss for the year of about $202.2 million. Results were in comparison to a net loss of $42.4 million for ...
S&P Puts State Farm General Ratings on CreditWatch
Potential downgrades of State Farm's California homeowners insurer came closer to reality when S&P Global Ratings put the "AA" financial strength and issuer credit ratings of State Farm General ...
Business Continuity Plans Lacking Among SMBs: Nationwide Survey
Mid- and small-market businesses (SMBs) face a lot of the same big-picture challenges, but how they prioritize risk, spending and solutions varies widely. According to Nationwide's latest risk ...
Claims Service, Tech, Communication Top Independent Agent Concerns
Claims, communication, and technology round out the top three concerns for independent agents when placing new business with a carrier, according to InsurTech firm Vertafore. The findings were the ...
Millennials, Gen Z Embrace AI-Driven P&C Products: Survey
A new "AI in Insurance Report" identifies the generational differences when it comes to artificial intelligence acceptance, according to cloud-based software provider Insurity. The findings of the ...
Georgia Tort Bill Advances After Governor Makes Concession on Medical Costs
ATLANTA (AP) — Georgia senators voted 33-21 on Friday to support Gov. Brian Kemp's top-priority legislation to limit lawsuits, but not before some of Kemp's fellow Republicans extracted a ...
Florida OIR Wants More Data, Warns Insurers About Concurrent Causation Denials
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida's top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers' claims-handling and ...
AM Best: U.S. P/C Industry Improves Despite 2024 Underwriting Loss
The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. A report from industry rating agency AM Best ...
Berkshire Hathaway Removes Diversity and Inclusion From Annual Report
Warren Buffett's Berkshire Hathaway on Saturday joined a growing list of American companies to publicly change their approach to discussing their commitment to diversity and ...