Allstate Corp.’s net income applicable to common shareholders jumped to $1.46 billion from a $303 million net loss a year earlier.
Author: Annie George
Los Angeles Hit by Mudslides, Flooding as Atmospheric River Persists
A turbocharged atmospheric river continued to lash Los Angeles early Tuesday, where officials warned further rainfall on already saturated ground would trigger more dangerous mudslides and flash flooding.
The Pace of Public D&O Price Decreases Slowed Down in Q4: Aon
The pace of public directors and officers liability insurance price decreases again slowed in the fourth quarter of 2023, with the average price per $1 million in limits dropping by 17.5%, according to Aon’s Quarterly D&O Pricing Index.
Auto Insurance Rates in 2024 Jump 26% Across the U.S., Report Says
Motorists across the country are feeling the pinch as car insurance premiums continue to rise, according to a new report.
WTW Launches Large Client Unit as CEO Touts Specialty Brokerage Growth
WTW is sharpening a strategic focus on specialty markets, as it progresses with a cost-saving transformation initiative that will wind down by 2025, said the broker’s chief executive officer.
NC Insurance Commissioner Causey Rejects Large Homeowners Rate Increase
State Insurance Commissioner Mike Causey announced Tuesday that he has rejected a North Carolina Rate Bureau’s request to increase homeowner insurance rates by an average of 42%.
New Study Shows Intense Hurricanes Could Merit a Hypothetical Category 6
As fearsome as Category 5 hurricanes can be for people living in harm’s way, a new study reports global warming is supercharging some of the most intense cyclones with winds high enough to merit a hypothetical Category
Banking Groups Sue Regulators to Block CRA Revamp
Several industry groups sued US regulators to block recent overhauls to the Community Reinvestment Act, arguing the new rules meant to tackle redlining and boost lending to lower-income areas will actually discourage banks from lending.
WTW Reports Organic Revenue Growth of 6% for Q4’23
Global brokerage firm WTW has reported 6% organic revenue growth for the fourth quarter of 2023 to $2.91 billion, while net income for the period rose by 5%, year-on-year, to $623 million.
EU States Greenlight Landmark New AI Rules
EU member states on Friday approved landmark rules on reining in artificial intelligence, after tough last-mile negotiations on the legislation billed as a world first.