U.S.
KCC: Ian Contributed to Sizable Insured Losses Despite Mostly Average ’22 Hurricane Season
Last year, the state of Florida sustained the largest hurricane loss with Ian, with estimates of more than $100 billion in economic damage, including uninsured properties, damage to infrastructure, ...
Hackers to Test AI Limits at Mass Event
No sooner did ChatGPT get unleashed than hackers started "jailbreaking" the artificial intelligence chatbot—trying to override its safeguards so it could blurt out something unhinged or obscene. ...
Tale of Two Markets: Personal Lines ’22 CR 15 Pts. More Than Commercial
The 2022 property/casualty insurance industry saw a stark difference between the combined ratio of commercial lines at 94.8, while personal lines came in at 109.9. It was the largest difference in ...Markel Corporation Changes Name to Markel Group Inc.
Markel Corporation is changing its name. As of May 26, 2023, Markel Corporation will be known as Markel Group Inc. The change provides greater definition around the nature of their holding company ...
AM Best: Only Two Impaired Insurers in ’22, Down From 10 in ’21
Despite the reversal seen in the U.S. equity market and rising inflation and interest rates, P/C insurers performed well in 2022, according to the latest report on the long-term impairment rates of ...
Company Refuses NHTSA Recall Demand on Air Bag Inflators
A Tennessee company could be heading for a legal battle with U.S. auto safety regulators after refusing a request that millions of potentially dangerous air bag inflators be recalled. The National ...
Catalytic Theft Claims Triple in Two Years, Crime Bureau Report Finds
Insurance claims for catalytic converter thefts nationwide jumped by 288 percent in just two years, the National Insurance Crime Bureau said in a new report. Claims rose from 16,660 in 2020 to 64,701 ...
NCCI: Workers Comp Premiums Dipped in ’22, What’s in Store for ’23
Last year was anything but normal when it came to rate filings, according to the National Council on Compensation Insurance (NCCI). During its annual State of the Line report, the organization ...