News
Nuclear Verdicts Surged to $14.5 Billion in 2023: Report
Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were "thermonuclear," or more than $100 million, according to a new study by research firm Marathon ...
Liberty Mutual Posts $1.5B Net Income for Q1, Reversing Loss
Liberty Mutual Holding Company on Thursday reported first-quarter 2024 net income of $1.5 billion compared to loss of $74 million during the same period last year. The combined ratio for the first ...
Survey Finds More Employees Bringing Their Own AI to Work
According to new research from Microsoft Corp. and LinkedIn, the use of generative AI at work has nearly doubled in the past six months but employees aren't waiting for their employers to catch up to ...
AM Best: Social Inflation Key Factor in Rise of Loss Severity
Loss severity for many U.S. casualty lines of insurance business has exceeded economic inflation over the past decade, indicating other factors are influencing claims costs for indemnity and expense ...
Survey Offers Tips on Ways to Assist Homeowners in Procuring Adequate Coverage
The number of severe climate-related disasters in the United States escalated by 32 percent between 2019 and 2022, causing insured losses over the same period to rise by nearly 300 percent, according ...
FBI Focused on Nabbing Scattered Spider Hackers
The U.S. FBI is working towards charging hackers from the aggressive Scattered Spider criminal gang who are largely based in the U.S. and western countries and have breached dozens of American ...
Fannie and Freddie Hit Pause on Replacement-Value Rules for Home Insurance
Property insurance groups on Wednesday applauded a decision by Fannie Mae and Freddie Mac to hold off on an apparent plan to scrutinize mortgages on homes that don't carry full replacement-value ...
Mercury Taking Over Tokio Marine California Biz, Bullish on CDI Strategy
Mercury Insurance agreed to accept the transfer of California personal lines policies originally written by Tokio Marine Group insurers, the two carriers said in a media statement yesterday, ...