News
Third Party Risk Dominant Driver of Cyber Insurance Claims
New analysis shows vendor risk driving financial losses, making up nearly a quarter of material claims in 2024, according to cyber risk company Resilience. Third-party risk emerged as a dominant ...
Woman Injured on Harry Potter California Theme Park Ride Awarded $7.25M
A federal jury has awarded $7.25 million to a 74-year-old Arizona woman for a spine injury she suffered in a fall while exiting the Harry Potter and the Forbidden Journey ride at Universal Studios ...
Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single ...
Lemonade CEO Declares ‘Best Quarter Ever,’ Posts Narrowed Q4 Loss of $30M
InsurTech Lemonade reported a fourth-quarter 2024 net loss of about $30 million and a loss for the year of about $202.2 million. Results were in comparison to a net loss of $42.4 million for ...
Casualty Reinsurance Capacity Plentiful, But Concerns Over Future Availability Loom
Increasing litigation costs and higher jury awards continue to financially pressure the casualty reinsurance segment, forcing reserve strengthening measures for some carriers and prompting narrower ...
Drivers Want Better Vehicle Safety Systems Over Self-Driving Option: AAA
A new survey highlights drivers' continued safety concerns regarding self-driving features in cars. According to AAA's latest survey on autonomous vehicles, 13 percent of U.S. drivers would trust ...
Western U.S. Avalanches Claim More Lives in Recent Weeks
One person was killed in an avalanche in central Colorado on Saturday, marking just the latest fatality stemming from avalanches in the western U.S. this season. Authorities in Grand County responded ...
S&P Puts State Farm General Ratings on CreditWatch
Potential downgrades of State Farm's California homeowners insurer came closer to reality when S&P Global Ratings put the "AA" financial strength and issuer credit ratings of State Farm General ...