Survey Shows Customers Expect 5-Day Claims Payouts, Not Paper Checks in Future January 23, 2024 The vast majority of insureds expect claim payouts to take no more than five days, a new survey shows. The...
Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey January 22, 2024 By Elizabeth Blosfield Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to...
New FEMA Rules Aim to Cut the Red Tape of Disaster Recovery January 22, 2024 By Rebecca Santana Anyone who has lived through a natural disaster and then applied to the federal government for assistance knows that it...
USGS: Nearly 75% of U.S. Could Experience A Damaging Earthquake January 19, 2024 Nearly 75% of the U.S. could experience damaging earthquake shaking, a recent U.S. Geological Survey report shows. A USGS-led team...
Airstrikes on Yemen Bring New Level of Chaos to Shipping in the Southern Red Sea January 19, 2024 By Áine Quinn, Julian Lee and Alex Longley The US and UK’s decision to hit back at Houthi militants after weeks of attacks on merchant shipping in the...
Secondary Perils Drive Global Insured Losses to Estimated $123B in 2023: Gallagher Re January 19, 2024 Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123...
10 Largest Auto Insurers Each Raised Rates by Double Digits in 2023 January 19, 2024 By Chad Hemenway According to S&P Global Market Intelligence’s RateWatch, Farmers Insurance instituted double-digit rate increases in 43 states in 2023 for a...
Sean ‘Diddy’ Combs and Diageo Settle, Withdraw Lawsuits in Case That Accused Diageo of Racism January 18, 2024 By Dee-Ann Durbin Rapper and entrepreneur Sean “Diddy” Combs has withdrawn his lawsuit against Diageo as part of a settlement with the London-based...
Insurers Seek to Exclude US, UK Ships from Red Sea Coverage January 17, 2024 By Alex Longley and Áine Quinn Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they navigate the...
Commercial Property Rates Not Expected to Increase at Same Pace as 2023: USI January 17, 2024 A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not...