News
Most Consider Insurance Pricing Factors Fair, But Half Struggle to Pay
How insurers price personal auto and homeowners policies is fair, according to most Americans, but nearly half (47 percent) said paying for coverage was a challenge, a newly-released Insurance ...
Judge in $6B 3M Settlement Issues Order to Stop Litigation Funding
A federal judge has barred attorneys and claimants involved in 3M's $6 billion settlement with U.S. military service members from any third-party litigation funding agreements. District Judge M. ...
Hyundai, Kia Urge Judge to Reject Cities TikTok-Inspired Theft Lawsuits
Korean automakers Hyundai Motor and Kia Corp. on Tuesday asked a U.S. judge to reject lawsuits filed by 17 cities for failing to install anti-theft technology in millions of their vehicles. The ...
U.S. Watercraft Theft Down for Second Year in a Row
The number of watercraft thefts in the U.S. decreased by four percent, dropping from 4,644 in 2021 to 4,461 in 2022, according to a newly released report by the National Insurance Crime Bureau ...
Urgency, Caution Behind Businesses’ Exploration of AI
Findings from a new report indicate 85 percent of businesses see generative AI as important and plan to explore its applications within the next 24 months, while remaining wary of its risks. ...
Teen’s Death After Spicy Chip Challenge Halts Sales
The death of a Massachusetts teenager after his family said he ate an extremely spicy tortilla chip has led to an outpouring of concern about the social media challenge and prompted retailers to pull ...
First-Half U.S. P/C Underwriting Loss Just $2B Shy of Full-Year Loss for ’22
The net underwriting loss total for the U.S. property/casualty industry, $24.5 billion, is $2 billion less than total losses recorded for all of 2022, according to a new AM Best report. Catastrophe ...
Average Annual Cat Losses Now $133B For Insurance Industry: Verisk
The average annual loss from natural catastrophes has increased to $133 billion, a new high, according to latest analysis using Verisk's extreme event solutions models.. The increase in losses, ...