News
Cat Losses Cause Travelers’ to Miss Q1 Profit Estimate
Travelers Companies missed first-quarter profit estimates on Wednesday as severe storms in the United States drove up its catastrophe losses, sending shares of the insurance bellwether down 8 percent ...
Allstate’s Safe Driving App Helps Reduce Chance of Collision by 25%
Newly released analysis indicates Allstate customers who chose to opt into their telematics driver safety app, Drivewise, were found to be 25 percent less likely to be involved in a serious ...
Electrical Issue Found in Ship That Caused Baltimore Bridge Collapse
Hours before leaving port, the massive container ship that caused the deadly collapse of a Baltimore bridge experienced apparent electrical problems, a person with knowledge of the situation told The ...
Parametric Insurer FloodFlash Adds Business Interruption
Ahead of the 2024 Atlantic hurricane season, FloodFlash, which offers sensor-enabled parametric flood insurance, is launching a product to support business interruption (BI) coverage. U.S. Commercial ...
Zuckerberg Avoids Personal Liability in Meta Addiction Suits
Mark Zuckerberg won his bid to avoid personal liability in about two dozen lawsuits accusing Meta Platforms Inc. and other social media companies of addicting children to their products. U.S. ...
Time-Tested Loss Reserving Methods Challenged: AM Best
Reflecting on one of the trends that surfaced as property/casualty insurers announced 2023 financial results recently, AM Best expects reserve strengthening for accident years 2015-2019 to continue, ...
Former MLB Player Charged With Insurance Fraud in Florida
A former Major League Baseball player has been charged with insurance fraud, according to a release issued yesterday by Florida Chief Financial Officer Jimmy Patronis. Yuniesky Betancourt, a former ...
Boeing Claims No Cracks Found on Older 787 Jets Ahead of Whistleblower Testimony
Boeing said on Monday it has not found fatigue cracks on in-service 787 jets that have gone through heavy maintenance, as the planemaker defended the twin-aisle aircraft program ahead of a U.S. ...