The federal judge overseeing the proposed $6 billion settlement of claims against 3M by hundreds of thousands of U.S. military veterans and service members is apparently not a fan of litigation funding.
Author: Annie George
Inflation Top Concern Among Middle Market Firms: Chubb
Three-quarters of middle market companies say they are considering an increase in their coverage amounts to ensure adequate protection against potential losses due to inflation, according to the Mid-Year 2023 Middle Market Indicator from Chubb and the National Center for the Middle Market (NCMM).
Orion180 Launches Homeowners Insurance Business in Alabama and Mississippi on Admitted Basis
Orion180, a premier provider of insurance solutions launched in 2018, began issuing homeowners insurance in noncoastal areas of Alabama and Mississippi this month through its admitted insurer Orion180 Select Insurance Co.
Record Number of Billion-Dollar Disasters Shows the Limits of America’s Defenses
The United States has suffered 23 billion-dollar disasters so far in 2023, a record for this point in the year that highlights the country’s struggle to adapt to the effects of climate change.
Flood Insurance Swamps U.S. Government
The National Flood Insurance Program, which covers nearly 5 million properties, needs to be reauthorized by Congress by the end of the month to avoid a housing crunch.
Pandemic Fraud May Have Robbed Unemployment Insurance of $135 Billion
More generous unemployment benefits doled out during the pandemic appear to have been a magnet for fraud, according to a government watchdog report released on Tuesday.
Commercial Insurance Rates Continued to Increase at Slightly More than 6% in 2Q
According to WTW, a leading global advisory, broking and solutions company, U.S. commercial insurance prices have continued to increase in the second quarter of 2023, based upon their Commercial Lines Insurance Pricing Survey (CLIPS).
AM Best: U.S. P/C Industry Records $24.5B Underwriting Loss in the 1H 2023
The U.S. property/casualty (P/C) industry recorded a $24.5 billion net underwriting loss in the first half of 2023, nearly eclipsing the $26.5 billion in total losses recorded for all of 2022, according to a new AM Best report.
USI Insurance Announces More than $1B New Equity Investment from KKR
USI Insurance Services, announced on Monday that its existing shareholder and global investment firm KKR is making a new equity investment of more than $1 billion in the company.
Federal Judge Approves Wells Fargo’s $1B Settlement with Shareholders Over Sham Accounts
A New York federal judge on Friday approved a $1 billion settlement agreement between Wells Fargo & Co. and its shareholders, resolving a class-action lawsuit that had accused the bank of misleading investors about its progress in cleaning up sham accounts.