The U.S. commercial lines insurance segments are being challenged by slower revenue growth, inflation-based claim uncertainty and less favorable loss reserve experience, Fitch Ratings says.
Author: Annie George
U.S. Commercial Insurance Rates Continue to Increase in the 1Q to Above 5%: WTW
The aggregate commercial price change reported by carriers was an increase of 5.6%, up from the rate of 4.8% in the previous quarter (Q4’22).
Nationwide Latest Major U.S. Insurer to Pull-Back, Citing Cat Weather Losses & Inflation
Nationwide Mutual Insurance is the latest major US carrier to announce that it is pulling-back, due to catastrophic weather losses and inflation among other reasons.
New Triple-I/Munich Re Survey Reveals Startling Consumer Perceptions
The official start of the 2023 Atlantic hurricane season kicked off June 1, and is forecast to be a busy one, which is why homeowners need to prepare.
A Greenwashing Lawsuit Against Delta Aims to Set a Precedent
Delta’s commitment to “becoming the world’s first carbon-neutral airline on a global basis” is the focal point of a class-action lawsuit arguing that its claims amount to little more than greenwashing.
Automaker Group Urges EPA to ‘Ease Up’ on Vehicle Emissions Rules
The head of a trade group representing nearly all major automakers urged the U.S. Environmental Protection Agency to “ease up” on its aggressive proposal to sharply cut vehicle emissions through 2032.
Federal Regulators Promise Safety Review at All the Major Freight Railroads
The Federal Railroad Administration recently completed a review of Norfolk Southern’s safety culture in the wake of the February’s fiery derailment in Ohio, and officials plan to follow up with similar investigations of all the major freight railroads over the next year.
Democrats on U.S. Senate Budget Committee Open Investigation into Major Insurers
Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers’ “support” of new fossil fuel projects, on the heels of an industry retreat from areas prone to climate risks.
Revised Wrongful Death Expansion Heads to NY Gov. Hochul’s Desk
New York state lawmakers last week put the finishing touches on a bill to expand the state’s wrongful death statute in a bid to make it easier for more people to file claims.
JPMorgan Agrees to Pay $290M to Settle Epstein Case
JPMorgan Chase & Co. agreed to pay $290 million to settle a lawsuit alleging it knowingly benefited from former client Jeffrey Epstein’s sex trafficking, according to a person familiar with the matter.