Industry News
First-Half 2025 Insured Losses From Natural Cats Hit $100B, Driven by U.S. Events
Global insured losses during the first half of this year were at least $100 billion, with more than 90 percent of that total – or approximately $92 billion – driven by wildfires and severe ...
London Market Brokers, Associations Welcome Move to Create UK Captive Domicile
The UK Chancellor of the Exchequer Rachel Reeves announced that the UK will introduce a captive insurance company regime – a decision that was welcomed by brokers and trade associations across the ...
Report Shows Excessive Heat Pushes Worker Injury Risk Sky High
It may come as no surprise that heat-related worker injury claims rise on hot days, but the magnitude of the increase is an eye-opener. As temperatures skyrocketed during early summer heat waves ...
NY’s Hurricane Insured Loss Potential Up More Than 60% as Climate Changes
Insurance industry scientists put the spotlight on Northern U.S. cities in a new research paper about hurricane potential under a warmer climate scenario, finding that New York's insured losses could ...
State Farm Implements 27% Rate Increase for Illinois Homeowners
State Farm is implementing a significant rate hike for Illinois homeowners, citing more frequent severe weather events and rising home replacement costs that are driving up the cost and frequency of ...
California Insurance Commissioner OKs Higher Workers Comp Pure Premiums
California Insurance Commissioner Ricardo Lara approved a higher September 1, 2025, pure workers compensation premium rate filing. The decision followed a filing by the Workers' Compensation ...
Texas Department of Insurance Issues Guidance for Insurers Following Deadly Floods
The Texas Department of Insurance shared a bulletin on flooding disaster guidance in light of the deadly floods in the Texas Hill Country. The bulletin lays out expectations for how insurers, agents, ...
Tax Hike on Litigation Funders Did Not Make Final Budget Bill
When Trump's huge tax bill was signed into law July 4, missing were changes to the taxes third-party litigation funders pay. Once included within the One Big Beautiful Bill (OBBB) was language to tax ...