News
New York Proposes Guidance Governing Insurers’ Use of AI
New York State is proposing guidance for insurance carriers to prevent unfair discrimination in their use of artificial intelligence and external data sources in underwriting and pricing. A circular ...
Millennials, Gen X Push Ahead of Gen Z in Homeownership in 2023
Home insurers take note: homeownership by millennials and Gen X grew in 2023, while Gen Z lagged, according to a new report by Redfin, an online real estate brokerage firm. Even so, most Gen Zers are ...
Avalanche Risk High in Much of Western U.S.
As a massive winter storm dumped snow across much of the western U.S. earlier this week, some hardy winter sport enthusiasts headed to ski resorts and backcountry slopes despite frigid temperatures. ...
Executives on the Move at Guy Carpenter, LSM, Arch and Amwins
Guy Carpenter announced the appointment of Keith Wolfe to the newly created role of chief commercial officer, North America, effective immediately. He reports to John Trace, CEO of Guy Carpenter ...
Bottled Water Contains More Plastic Particles Than Previously Thought
A typical one-liter (33-ounce) bottle of water contains some 240,000 plastic fragments on average, according to a new study. Many of those fragments have historically gone undetected, the researchers ...
U.S. House Votes to Repeal Labor Board Rule on Contract, Franchise Workers
The Republican-led U.S. House of Representatives on Friday voted to repeal a federal labor board rule set to take effect in February that would treat companies as the employers of many contract and ...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI
A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates "are expected to increase, but not at the same pace as seen in 2023." "Our forecast calls for 5-15 ...
Another View: Yes, P/C Industry Underwriting Profit Will Be Back in ’24
Not all analysts think an underwriting profit is out of reach for 2024. While a recent forecast from Fitch Ratings puts the 2024 combined ratio above 100, but improved from 2023, a report by Swiss Re ...