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California Department of Insurance May Revoke Tesla Insurance Licenses
Elon Musk once promised that the "nightmare" experience of auto accident claimants would turn into a dream with Tesla Insurance. It hasn't, according to California's insurance regulator. Alleging ...
Everest Refocusing as Reserve Charge Hits Earnings; Buying $1.2B ADC
Bermuda-based Everest Group, Ltd. published three announcements yesterday—one detailing a third-quarter income decline, and others describing actions to sharpen the company's focus on its core ...
Analysis: State Farm Bolsters Surplus by Freeing Up Billions in Loss Reserves
Despite devastating California fires causing upward of $40 billion in losses for U.S. property/casualty insurers, the industry still managed an underwriting profit of ...
Too Much Profit? Progressive’s Florida Results Generate Nearly $1B Q3 Charge
Progressive posted $2.6 billion in third-quarter net income last week in spite of taking a nearly $1 billion charge to account for excess profits the carrier will have to return to Florida auto ...
The LA Fires Destroyed 11,000 Homes. Less Than 10% Have Permits to Rebuild
Of the thousands of residents needing to rebuild after this year's California wildfires, Andy Weyman would seem especially well positioned. The TV and stage director had remodeled his Malibu home ...
Kemper’s Lacher Steps Down as CEO
Kemper Corporation announced that Joseph P. Lacher Jr. will step down as president and chief executive officer after nearly a decade in the role and will conclude his ...
Mini-Meditations Are a Way to Foster Peace of Mind at Work
The idea of meditating can be intimidating. Beginners may imagine sitting uncomfortably in silence while breathing deeply and scrubbing all thoughts from their minds. The ...
All Commercial Insurance Lines Except One in ‘Soft-Market Territory’: WTW
Moment of opportunity. Clear horizons. The latest WTW Marketplace Realities report, published in early October, is heavy on descriptions of a "unique and promising" inflection point for commercial ...
Executive Viewpoint: Reimagining Personal Lines Risk – Now and for the Future
For decades, personal lines insurance has taken a repair-and-replace approach to our business. As president of Nationwide's Personal Lines, I've seen the impact this ...
Rotting Apple: Berkley Explains Property Market, Company Appetite
Analysts trying to reconcile third-quarter premium jumps reported by line of business for W.R. Berkley Corporation with the CEO's opening remarks during an earnings conference call this week may well ...
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
As a group, the top 50 global property/casualty insurers grew premiums by 8.3 percent in 2024, but four of them, individually, grew by more than 20 percent, including Progressive which vaulted into ...
Use of Oklahoma License Plate Readers Meant for Insurance Verification Questioned
The use of automated license plate readers (ALPRs) as a tool for mass surveillance, allowing law enforcement to conduct warrantless searches, was the topic of a new study held before the Oklahoma ...
Florida Roller Coaster Complaints Prompt Questions About Universal’s Response After Death
Multiple people have reached out with related stories to the family of a 32-year-old man who died of blunt force injuries two weeks ago while riding the new Stardust Racers roller coaster at ...
AI Investments Are Top Priority; Hourglass Workforce Structure Takes Shape: Insurance CEO Survey
"We are very bullish on AI, and we're leaning into it." That's how Alan Schnitzer, chief executive officer of Travelers, responded to a recent question from an investment analyst who wanted specifics ...
Acrisure to Lay Off 400 Employees; Cites Tech Advances, AI Integration
Acrisure announced it will implement layoffs to its accounting workforce beginning in early 2026, citing advancements in technology and artificial intelligence. The company said 400 employees will be ...
High Demand for Gen AI Insurance; Buyers Say They’ll Pay More: Report
A new survey of corporate insurance buyers reveals widespread interest in buying insurance to cover Gen AI risks—and a willingness to pay up 10-20 percent more in organization-wide insurance ...
Don’t Forget the Front Line: Why Insurers Need to Research the Agent Experience
In the rush to improve customer experience, many insurers have overlooked a critical group of stakeholders: the independent brokers and agents who sell their products ...
Is This Claim Covered? Lawyer-Built AI Drafts Coverage Letters in Minutes
Dan Schuleman, the co-founder and chief executive officer of Qumis, unhappily remembers a time when he worked as outside coverage counsel for an insurance company ...
Recovery Unlikely for Jewels Stolen From the Louvre Museum
Just days after a stunning heist at the Louvre Museum in Paris, speculation is growing around where the lavish, stolen jewels that once adorned France's royals might end up. A handful of experts warn ...
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Biz Worth $2B
American International Group said yesterday that it has a definite agreement to acquire the renewal rights of Everest Group's retail commercial insurance business. Everest will focus on its ...
Agents Struggle to Find Capacity, Meet Customer Timing Expectations: Survey
A new P/C insurance industry survey report reveals some of the key challenges that independent agents are facing, including providing quotes within customers' expected time frames—or finding ...
Insurance Leaders Can Leverage AI to Become Industry Influencers
A group of insurance executives met recently for a company meeting. Following their discussions of sales and product development plans, they attended training to become ...
Truckers Seek Detours Around Rising Costs and Litigation
The COVID-era boom in trucking is definitely over. The trucking sector is experiencing one of its most challenging times, with trucking operators' profitability dropping across all sectors, total ...
U.S. Workforce Burnout Reaches 6-Year High
Workplace burnout is at an all-time high in the U.S., according to the 15th annual Aflac WorkForces Report's survey results from 1,002 employers and 2,000 employees across the United States. ...
Federato Launches Tech to Tackle Underwriter Fears of Falling Behind
Federato, an InsurTech focused on underwriting intelligence, has launched an agentic AI platform designed to help insurers harness technology to assess, quote, and manage risk. The new solution aims ...
Golf Legend Jack Nicklaus Wins $50M Verdict in Defamation Lawsuit
Professional golf legend Jack Nicklaus has won a $50 million verdict in a defamation lawsuit filed in Florida against his former business partners. A six-person jury in Palm Beach County found Monday ...
Injury Severity and the Power of the Anchor: Swiss Re’s Juror Analysis
"Verdicts on trial: The behavioral science behind America's skyrocketing legal payouts." Our international editor, Lisa Howard, captured some of the highlights of a recent report from Swiss Re with ...
Risk Reality vs. Commercial Insurance: Coverage Holes Exposed
Two recent reports—one reviewing property and business interruption risks and the other, liability—highlight a growing divide between escalating risk and shrinking insurance coverage. They also ...
Anchored in Maritime Roots, the Cayman Islands Set Sail for Reinsurance Opportunities
The Cayman Islands have a story familiar to many in insurance—entering the industry unexpectedly from somewhere else.
In fact, the ...
Negotiation Is the Job: Reframing Defense Work in an AI-Enhanced Era
If you're in the business of resolving litigated or non-litigated claims, you're in the business of negotiation.
The math is simple: Most ...
Should Company Size Determine a Carrier’s ERM Practices?
Gather a group of 20, 30 or even 50 P/C insurance executives in a room and ask, "Who here wants their company to miss achieving its strategic goals?" or "Who wants to ...
7 Years of Double-Digit Growth; New Players on Top 25 E&S Insurers List
2024 marked the 7th straight year of double-digit growth for the U.S. excess and surplus lines market, but the top 25 players no longer command 70 percent of the pie, according to a new report. AM ...
Reimagining Homeowners Insurance in the AI-Powered Claims Era
Historically, the insurance claims process was built on paper files, and that infrastructure has not fundamentally changed in more than 100 years. It's long overdue for a refresher. Even as carriers ...
Recent Years’ Commercial Auto Loss Costs Dog Selective Insurance in NJ
Lower levels of catastrophe losses more than offset impacts of prior-year reserve boosts to Selective Insurance's third-quarter and nine-month combined ratios. But behind improved underwriting ...
Inflation, Supply Chains, Tariffs: Trends Impacting Business Insurance and Claims
Inflation has been a persistent issue in the United States, though it has moderated since its peak during the COVID-19 pandemic, while supply chain disruptions for equipment and other goods continue ...
5-Year Cost of Litigation Funding to Commercial Insurers Could Top $25B
"Are you being serious?" Christopher Swift, chair and chief executive officer of The Hartford, was taken aback by a question from an analyst during the company's second-quarter earnings call about ...
Rebuilding Commercial Lines Underwriting: Smarter, Simpler and More Strategic
Commercial lines underwriting is at a critical turning point.
Traditional models built on manual ...
Most Bizarre Workplace Injuries Include Pickle Slip and Fall, Frozen Fish Assault: Report
Many workplace injuries remain preventable, and Pie Insurance's 2025 State of Workplace Safety report highlights the most bizarre injuries reported by the 1,018 U.S. small businesses surveyed earlier ...
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports
Hurricane Melissa made landfall in Jamaica as a powerful category 5 storm — a record for the Caribbean island nation — which brought storm surge, torrential rain, strong winds and massive ...
NASCAR Driver Kyle Busch Alleges Deceptive Practices, Sues Insurer for $8.5M
Kyle Busch bought what he thought was a safe life insurance plan that would provide self-funding income for his retirement. When Pacific Life Insurance Company sent a sixth premium notice on what was ...
Taking Back Negotiation: Why Claim Professionals Must Lead the Next Chapter
In the rapidly shifting landscape of property/casualty insurance claims, negotiation stands at the pivotal moment for improved settlement outcomes, client satisfaction, ...
AI-Powered Home Insurance Startup Expands in Risky Florida Market
Stand Insurance has raised $35 million in a Series B funding round to expand its artificial intelligence-powered coverage for homeowners. The company targets insurance markets deemed risky, with ...
Starr Acquiring IQUW; Starr Managing Agency Among 10 Largest at Lloyd’s
Starr, a global investment and insurance organization, announced that it has entered into a definitive agreement to acquire IQUW Group, a specialty insurance and reinsurance business that combines ...
Viewpoint: Strong In-House Claims Functions Help Build Trust in MGA Sector
The managing general agent (MGA) market is in the spotlight as one of the most agile and innovative arrows of growth for the insurance sector. But as with any arrow, direction and precision matter. ...
Why Progressive’s Customer Scores Lag State Farm, GEICO: J.D. Power
When it comes to personal auto insurance, Progressive has been outpacing GEICO and State Farm in terms of growth and posting better loss ratios for years. But customer satisfaction scores are another ...
Viewpoint: AI Will Replace Most Humans, But Then What?
Is technology more job augmenting or job replacing? This has been a long-standing debate. But recent academic work suggests that technology has been a net destroyer of jobs for decades. Artificial ...
California’s Top 5 Most Destructive Wildfires
The Palisades Fire was the most destructive blaze in Los Angeles to date and among the five worst in California's history. Federal authorities said last Wednesday that they have charged Jonathan ...
Study Reveals Nearly Half of Drivers Killed in Crashes Tested Positive for THC
THC-impaired driving deaths are soaring, according to new study findings that will be presented this week at the American College of Surgeons (ACS) Clinical Congress 2025 in Chicago. In a review of ...
An Unsustainable Trend – Declining P/C Rates and Rising Cost of Risk: Marsh’s Doyle
Property/casualty prices are declining, while the cost of risk continues to rise – a trend that is unsustainable over time, according to John Doyle, president and chief executive officer of Marsh ...