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Today's Headlines
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July 26, 2024 |
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A growing homeowners insurance crisis for Californians is straining brokers who must work harder to get increasingly expensive and more frequently unavailable coverage for their clients, a crisis many of them blame on regulations and wildfires. Wildfires have made the state a bad bet for struggling carriers—and this season so far looks to be another... read more
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Social inflation is an ever-present concern in the property/casualty insurance industry, putting pressure on their reserve levels and overall financial stability. According to research from Swiss Re Institute, the U.S. is in a wave of social inflation, which is likely to continue for a while. The good news is that AI offers promising solutions to... read more
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Vertafore, the leader in modern insurance technology, recently released its 2024 insurance workforce survey report: "The insurance agency workforce: Talent, tech, and the hard market." Based on responses from nearly 2,000 professionals at independent insurance agencies, the report provides insights into how producers, owners ... read more |
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Floyd County keeps flooding and the federal government keeps coming to the rescue. In July 2022, at least 40 people died and 300 homes were damaged when the eastern Kentucky county flooded. It was the 13th time in 12 years that the rural county was declared a federal disaster. These are disasters so costly that... read more
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Global insured losses from last week's massive IT outage are likely to range from $400 million to $1.5 billion, cyber analytics firm CyberCube said on Thursday. A software bug in cyber security firm CrowdStrike's quality-control system caused the software update that crashed computers globally, the U.S. firm said this week, as losses mount following disruption... read more
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Liberty Mutual Insurance announced that Julie Haase has been named executive vice president and chief financial officer, effective Jan. 1, 2025, replacing Christopher Peirce, who will retire at the end of 2024. Peirce held multiple leadership roles during his notable, nearly three-decade career at Liberty Mutual, including president of the Global Specialty and Commercial Markets... read more
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Democratic U.S. senators on Tuesday introduced a bill designed to undo a ruling last month by the U.S. Supreme Court that curtailed the ability of federal agencies to issue regulations addressing issues including the environment, consumer protection and workers' rights. Senator Elizabeth Warren of Massachusetts said she and 10 fellow Democrats are sponsoring a bill... read more
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A new study suggests there may be a correlation between mass layoffs and data breaches. According to a research team led by faculty from Binghamton University, State University of New York, since layoffs create conditions where disgruntled employees face added stress or job insecurity, they are more likely to engage in risky behaviors that heighten... read more
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Quick-Service Restaurants (known as QSRs) are everywhere. They serve millions ...
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Tools for navigating a new frontier in the E&S boom
The excess and surplus ...
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Whether it's cybersecurity risks or soaring geopolitical tensions, presidential ...
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Discover the Future of Property & Casualty Insurance: 2024 and Beyond
The ...
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Many insurers rely on outdated reserving processes and tools, especially ...
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