U.S.
Florida Homeowners Insurer of Last Resort Proposes 13.5% Rate Hike for 2025
Citizens Property Insurance has asked its corporate board to approve a recommendation for a 2025 rate increase. The insurer of last resort in Florida says the rate package is necessary due to recent ...
GM’s Cruise Unit to Receive Hefty Penalty for Delaying Report on California Accident
A California regulator said on Thursday it is imposing the maximum penalty possible on General Motors' Cruise unit for its failure to promptly provide complete information to the commission about an ...
Risky Driving Behavior, Advanced Tech Led to Higher Claim Frequencies in Auto
The auto insurance market is seeing higher claims frequency, in part, due to increasingly risky driving behavior and greater EV adoption which comes with expensive advanced technology, according to ...
As Premiums Decline, Pricing Softens for U.S. D&O Liability Insurance
Better underwriting results in the U.S. directors & officers (D&O) liability line "will likely add downward pressure on rates amid decreased demand in the segment", according to a new AM Best ...
Former OpenAI Chief Scientist to Start New Company Boasting Safer AI
ChatGPT maker OpenAI's co-founder and former chief scientist Ilya Sutskever said on Wednesday that he was starting a new artificial intelligence company. The company is focused on creating a safe AI ...
Survey: Payment Fraud a Growing Concern for Businesses
Small businesses are increasingly concerned about payment fraud. That's according to a small business survey from regional bank KeyBank. Nearly 2,000 small-to-medium size business with annual revenue ...
Florida Citizens Board Votes to Raise Rates 14%, But Litigation Costs Dropping
The board of governors for Florida's state-created Citizens Property Insurance Corp. voted unanimously Wednesday to raise personal lines rates by an average of 14 percent statewide – near the ...
Rearview Camera Issue Prompts Stellantis Recall of 1.16M Vehicles
Chrysler parent Stellantis is recalling 1.16 million vehicles in North America over a problem with software that is preventing rear view cameras from displaying, raising the risk of a crash, the ...