Industry News
At RIMS, Sedgwick Experts Outline Key Workers Comp Claims Trends
At last week's RIMS RISKWORLD conference in Chicago, two experts from risk and claims administration partner Sedgwick outlined a few key workers compensation trends worth paying attention to ...
As Execs Eye AI for Fraud Detection, Deloitte Predicts Billions in Savings
With a growing share of insurance executives viewing generative artificial intelligence as a tool for streamlining and improving functions like fraud detection, Deloitte predicts that AI technologies ...
Too Late? S&P Downgrades State Farm General (Updated)
Standard & Poor's Global Ratings announced a two-notch downgrade of State Farm General on May 13—on the same day that California's regulator approved an interim emergency homeowners rate ...
State Farm’s Emergency Homeowners Rate Hike Gets OK in California
State Farm General can move ahead with a proposal to raise California homeowners rates on an emergency interim basis, following years of financial stresses that depleted its surplus and billions of ...
The Latest Launches: Chubb, Zurich, FM, QBE NA and More
The biggest news of this year's Berkshire Hathaway annual meeting came during the last few minutes, when Chair Warren Buffett made a surprise announcement that he would recommend the CEO reins be ...
2024 P/C Insurance Combined Ratio: Best in More Than a Decade
With combined ratios for personal and commercial lines landing only 0.4 points apart last year, the property/casualty insurance industry's aggregate 2024 combined ratio was 96.5—marking the lowest ...
Bermuda Absorbed $10B of California’s Wildfire Losses
According to data collected by the Bermuda Monetary Authority, Bermuda's insurers and reinsurers expect to pay nearly $10 billion in gross claims to U.S. policyholders and cedents for claims from the ...
Commercial Property Customers Cutting Insurance Corners Despite Risk
As weather-driven catastrophes become more common and severe, commercial property owners and the agents who serve them are reassessing risks and coverage to get more build for their buck. The new ...