News
Zurich Insurance Posts Highest-Ever Operating ROE for 2023
Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ride out the impact of ...
IIHS Announces Changes to Moderate Overlap Front Crash Test Scoring Criteria
New scoring criteria is being rolled out for the Insurance Institute for Highway Safety's moderate overlap front crash test to better account for variations in the position of the rear shoulder belt. ...
Carrier Retention Rates Decline Due to Auto Insurance Comparison Shopping
Consumers purchasing new policies and shopping around for auto insurance in the U.S. helped carriers post positive year-over-year growth and record volumes for the final quarter of the year, ...
Appeals Court Overturns $366M FedEx Race Bias Verdict
A federal appeals court on Thursday threw out a $366.2 million verdict against FedEx, in a case brought by a Black sales manager who said the package delivery company fired her in retaliation for ...
California Saturated But Largely Avoids Damage From Recent Storms
Much of saturated California faced the threat of flooding Tuesday with winter storms blowing through, but so far the state has escaped the severity of damage from mudslides, wind and rain spawned by ...
Unappreciated Gen AI Risks: Carbon Emissions and D&O Litigation
Hallucinations, bias, privacy infringements and intellectual property violations are some of the risks of generative AI that technology and insurance professionals have surfaced over the last year. ...
Cyber MGA Coalition Predicts Common Vulnerabilities to Increase 25% in 2024
Cyber insurance provider Coalition said it expects the total number of common vulnerabilities and exposures (CVEs) to increase by 25 percent in 2024 to 34,888 vulnerabilities, or roughly 2,900 per ...
P&I Clubs Raise Renewal Prices to Keep Up With Claims Inflation: AM Best
Protection and Indemnity (P&I) clubs sought further price improvements at the February 2024 renewals in order to keep up with claims inflation, despite a relatively benign year for P&I claims ...