Progressive Corp. intends to list several of its office buildings across the United States for sale as it consolidates office buildings amid a changing work environment, a company spokesman said.
Author: Annie George
U.S. Designates PFAS Chemicals as Superfund Hazardous Substances
The U.S. Environmental Protection Agency on Friday designated a pair of widely used industrial chemicals as hazardous substances under the country’s Superfund program, accelerating a crackdown on toxic compounds known as “forever chemicals.”
Rising Insurance Costs, Coverage Changes Prompt Florida & California Homeowners to Move: Redfin
A Redfin survey has found that nearly three-quarters (70.3%) of Florida homeowners and over half (51%) of California homeowners have seen a rise in insurance costs or change in coverage in the past year.
Allstate Estimates $731 Million in First-Quarter Pretax Cat Losses
Allstate Corp. said it incurred an estimated $343 million in pretax catastrophe losses from activity in March, raising the total for the first quarter to $731 million from $1.69 billion in the prior-year period.
Marsh McLennan’s Revenue Grows 9% in Q1 2024
Marsh McLennan reported consolidated revenue of $6.5 billion in the first quarter of 2024, up 9% from $5.9 billion in the prior-year quarter. On an underlying basis, its revenue also increased 9%.
Massachusetts Official Warns AI Systems Subject to Consumer Protection, Anti-bias Laws
Developers, suppliers, and users of artificial intelligence must comply with existing state consumer protection, anti-discrimination, and data privacy laws, the Massachusetts attorney general cautioned Tuesday.
California Bill Would Require Insurers to Consider Fire Mitigation When Setting Coverage, Rates
The American Property Casualty Insurance Association is urging California lawmakers to slow down on legislation that would require insurers to factor state and private fire mitigation efforts into decisions on coverage and rates.
FBI Says Chinese Hackers Preparing to Attack U.S. Infrastructure
Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting “for just the right moment to deal a devastating blow,” FBI Director Christopher Wray said on Thursday.
Marsh McLennan CEO: Economics, Geopolitics Drive Up Price of Risk
Marsh McLennan sees strong growth opportunities amid a year of economic and geopolitical uncertainty that is raising the price of risk, according to its chief executive officer. The geopolitical environment remains unsettled, with multiple major wars and rising tensions politically, said President and CEO John Q. Doyle in a conference call. As more than half… Continue reading Marsh McLennan CEO: Economics, Geopolitics Drive Up Price of Risk
California Homeowners Insurance Crisis: Thousands to Lose Coverage as Two More Insurers Withdraw
In filings with the California Department of Insurance, Tokio Marine America Insurance Company and Trans Pacific Insurance Company said they would both withdraw from the homeowners and personal umbrella insurance markets in California. Both are subsidiaries of Tokio Marine Holdings Inc., a Japanese company.