Q1 Global Insured Natural Disaster Losses Driven by Severe Convective Storms: Aon Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion,... Read More
Report: Late April Tornadoes Affected 7K Properties with Reconstruction Cost of $2.1B The tornadoes that swept through the Great Plains on April 26 and 27 damaged and destroyed roughly 7,000 homes and... Read More
Warren Buffett’s PacifiCorp Now Faces $30 Billion Fire Claim Demand Berkshire Hathaway Inc.’s PacifiCorp now faces a demand for $30 billion from victims of Oregon’s 2020 Labor Day wildfires, an... Read More
Lockton Re: Hypothetical Cyber Event Offers Carriers an Opportunity to Review Risks A simulated cyber catastrophe highlights the benefits and problems cyber insurance carriers will encounter as a result, according to a... Read More
Insurers Get Green Light to Pay Less Than Billed Charges in Florida PIP Cases The Florida Supreme Court has given auto insurers more flexibility in reducing payments for medical services under the state’s no-fault... Read More
US Great Plains Brace for Possible Tornados: Weather Watch States across the Great Plains in the US are bracing for possible severe thunderstorms — which may include tornadoes and... Read More
Ban on Worker Noncompetes Faces Uphill Legal Battle The U.S. Federal Trade Commission’s ban on “noncompete” agreements commonly signed by workers is likely vulnerable to legal challenges, experts... Read More
Class Action Opposes Limiting Ship’s Liability for Baltimore Bridge Collapse A Baltimore small business has filed a class action against the owner and operator of the cargo ship Dali that... Read More
Report: Cybercrime ‘A Thriving Business,’ as U.S. Claims Frequency Rises Cyber claims frequency in the U.S. rose 13% last year, a new report shows. Coalition this week released its 2024... Read More
Chubb CEO Greenberg: Some Financial Lines Underwriting Practices ‘Simply Dumb’ According to Chubb CEO Evan G. Greenberg, the insurance industry’s underwriting practices for a number of financial lines are “simply... Read More