News
Tornado Losses Could Reach $5B But Should Be Manageable for Insurers: Experts
The late-season tornado outbreak that caused destruction across six states last weekend is expected to generate significant economic and insured losses, but it's unlikely to be a capital event for ...
APCIA Presents Findings From Diversity, Equity and Inclusion Catalog
The American Property Casualty Insurance Association (APCIA) and Dr. Leroy Nunery II, founder and principal of PlūsUltré and president of Evolution Advisors LLC, announced they would present the ...
Concert Group Launches New E&S Carrier; Gets A- Rating From Best
Concert Group Holdings Inc., a privately owned insurance holding company dedicated to insurance fronting business, announced the formation of a second company in the group—an excess and surplus ...
Swiss Re Estimates Global Insured Catastrophe Losses of $112B for 2021
Natural catastrophes caused global insured losses of $105 billion in 2021—the fourth highest since 1970, according to Swiss Re Institute's preliminary sigma estimate. This was up from $90 billion ...
7th Circuit Affirms Dismissal of 4 COVID-19 Business Interruption Lawsuits
In four separate decisions, a panel of the 7th Circuit Court of Appeals joined four other federal appellate courts in ruling that SARS-CoV-2 does not cause a direct physical loss or damage that ...
Insured Loss From Tornado Outbreak Estimated at $3 Billion by KCC
The insured loss from the Dec. 9-12 tornado outbreak that devastated parts of central U.S. has been estimated to be about $3 billion. Catastrophe modeling firm Karen Clark & Company said its ...
Boy Scouts Secure $800M From Chubb for Sex Abuse Settlements
One of the Boy Scouts of America's primary insurers, Chubb Ltd unit Century Indemnity Company, said on Monday it will contribute $800 million to a deal proposed by the youth organization to settle ...
Log4j Software Flaw Sends Companies Scrambling Against Hackers
A newly discovered vulnerability in a widely used software library is causing mayhem on the Internet, forcing cyber defenders to scramble as hackers rush to exploit the weakness. The vulnerability, ...