Industry News
New York Sues National General and Allstate Over Data Breaches
New York's Attorney General filed a lawsuit against National General and its parent Allstate Insurance Co. alleging they have failed to protect New Yorkers' personal information from cyber attacks. ...
‘Bleak’ Data: Insurance Co. Entry Level Hiring Expectations Hit Low Point
Insurance carriers expecting to add staff in 2025 are largely looking for experienced professionals rather than filling entry level roles, according to the latest Insurance Labor Market Study from ...
Just One Quarter of Insurers Have Digitized Their Operations: ACORD
Robust integration of artificial intelligence (AI) capabilities can reduce annual expenses by as much as $480 billion in P/C, according to the 2025 edition of the ACORD Insurance Digital Maturity ...
Investigations to Legislation: Florida Lawmakers Weighing Insurance Industry Changes
Florida legislative leaders, facing increasing pressure from the public and the press, last week pledged to investigate property insurers' financial structures. And bills filed before the 2025 ...
Tariffs Will Negatively Affect Insurance Industry, Says AM Best
Analysts at AM Best warned that the planned imposition of U.S. tariffs on imports from Canada and Mexico, along with increased tariffs on China, will have a negative effect on the insurance industry ...
Notable Rating Actions This Week: Westfield and Church Mutual
AM Best has revised the outlook to stable from negative for the long-term issuer credit ratings (long-term ICR) and affirmed the financial strength rating (FSR) of A (Excellent) and the long-term ...
Tokio Marine HCC President Schell to Retire After 50 Years in Insurance
Tokio Marine HCC announced a leadership change with the retirement of Mike Schell, president, at the end of this month. Barry Cook, CEO of Tokio Marine HCC International, will additionally assume a ...
Liberty Mutual Q4 Income Up Nearly 90%, Year Earnings Climb
Liberty Mutual Holding Co. reported fourth-quarter 2024 net income of $1.2 billion – a nearly 90 percent increase over the same period the prior year. Boston-based Liberty Mutual's total combined ...