Industry News
Smoke, Coverage Issues Cloud Wildfire Forecast: $35-$45B Losses Insured
CoreLogic announced a preliminary range of insured loss estimates for the Eaton and Palisades Fires in Los Angeles, Calif., of $35 to $45 billion, but there are a lot of factors that could change the ...
WEF Survey: Conflict, Disinformation Join Weather as Top Global Risks
War is the top worry wracking the nerves of risk experts surveyed by the World Economic Forum, despite incoming US President Donald Trump's vow to end hostilities in Ukraine. "State-based armed ...
Cyber, Business Interruption, Natural Disasters Listed as Top 3 Business Risks: Allianz
Cyber, business interruption and natural catastrophes are the top three risks that concern global businesses, according to the Allianz Risk Barometer 2025. Cyber incidents, such as ransomware ...
Will California’s FAIR Plan Have Enough Cash for Its Wildfire Claims?
There has been some question about whether California's insurer of last resort – the FAIR Plan – has enough cash on hand to pay for its share of wildfire claims. As surplus is inadequate and ...
State Farm Pausing Nonrenewals in Compliance With CDI Notice
State Farm, in an update about its claims response to customers impacted by the wildfires in California, indicated that some policyholders slated for nonrenewals will get a reprieve from the giant ...
California Wildfires Could Spark Insurance Moratoriums, Other Challenges
As wildfires continue to wreak havoc across California, experts say one part of the recovery process that is proving particularly challenging for high-net-worth homeowners is simply accessing ...
Too High? Too Low? BMS Analyzes Early Wildfire Insured Loss Estimates
Industry analysts' early estimates of insurance industry losses for the January 2025 California wildfires have already grown from $8 billion to $40 billion-plus—with many noting that it's too early ...
Class Action Settlements Eclipse $40B in 2024; PFAS Suits Emerging
Once again, settlements from class-action litigation topped $40 billion in 2024, according to an extensive analysis of more than 1,400 cases by law firm Duane Morris. Gerald L. Maatman, partner at ...