Industry News
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 inclusion. Berkshire's ...
Polished Gem GEICO Fuels Berkshire Hathaway Operating Gains
The work that GEICO's CEO has done to "repolish" Berkshire Hathaway's "long-held gem" got a special shout-out in Berkshire Chair Warren Buffett's 2024 annual report to shareholders this weekend. ...
Notable Rating Actions This Week: Mercury General, Sentry’s The General
Among the ratings announcements from AM Best this week were those reacting to an uncertain California wildfire loss estimate and a Midwest personal lines acquisition. *** Mercury General's AM Best ...
Farmers Estimates $600M in Losses from LA Wildfires
Farmers said on Wednesday that it expects losses from the Los Angeles wildfires last month to reach an estimated $600 million. Insurance companies have so far paid out more than $6.9 billion for ...