News
UBS Warns of Systemic Risk From Weak U.S. Insurance Regulation
UBS Group AG's chairman warned against looming risks in the U.S. insurance industry, citing weak and complex regulations amid an unprecedented boom in private financing. "We're beginning to see huge ...
Jamaica to Get Record $70.8M Parametric Payout for Hurricane Melissa
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced it will make a payout of $70.8 million to the government of Jamaica to cover damages from Hurricane Melissa. This marks the largest ...
Economy, Lawsuit Abuse, Insurance, Parking Top Trucking Industry Concerns: ATRI
The latest Top Industry Issues report, highlighting the U.S. trucking industry's leading issues, showed that while the economy led motor carrier concerns, lawsuit abuse reform, insurance cost and ...
NASCAR Driver Kyle Busch Alleges Deceptive Practices, Sues Insurer for $8.5M
Kyle Busch bought what he thought was a safe life insurance plan that would provide self-funding income for his retirement. When Pacific Life Insurance Company sent a sixth premium notice on what was ...
Don’t Look Now, But Citizens Is No Longer the Largest Property Insurer in Florida
Citizens Property Insurance Corp., the state-created insurer of last resort, is no longer the largest carrier in Florida. The ranking is seen as a significant milestone in the push for a more stable, ...
Insured Losses From Hurricane Melissa Could Reach $4.2 Billion, Verisk Estimates
Insured losses from Hurricane Melissa's strike on Jamaica are expected to range between $2.2 billion and $4.2 billion, according to estimates from data analytics firm Verisk. The Category 5 hurricane ...
Indigo’s AI Platform Reaches 20% Milestone in Underwritten Submissions
With five underwriters and its vertically integrated AI-driven medical professional liability platform, Indigo announced an operational milestone: 20 percent of all submissions are now automatically ...
State Supreme Court Restores Chemical Leak Verdict, Bayer’s Monsanto Must Pay $185M
A U.S. court reinstated a $185 million verdict against Bayer's Monsanto unit over chemical contamination at a Washington state school on Thursday. The Washington state Supreme Court reversed a lower ...