The number of securities class action lawsuits increased slightly in 2023, reversing the trend of decline over the last three consecutive years, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse.
Author: Annie George
New Tech Solutions, Growth Are the Focus for New CFO/CTO at Across America
Across America Insurance Services, Inc., a specialized wholesale insurance brokerage serving the commercial trucking and transportation industry, is adding new fire power to its C-suite by naming industry veteran Leah Barr as chief financial and technology officer.
Commercial Lines Performed Better than Personal, Combined Ratio Forecast at 103.9: Report
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9. Record levels of severe convective storm losses are the single biggest driver of the overall adverse results. Hard markets continue with 2023 net written premium growth forecast at 9.0%, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman.
Amazon Could Face Government Order Making It Liable for Third-Party Products
Amazon.com is facing a government order that could make it responsible for the safety of goods that it sells for outside vendors on its website and ships for them through its logistics network.
Chubb CEO: Competition, Regulation Constrain Financial and E&S Lines
Chubb Ltd. sees strong underwriting conditions everywhere but financial lines and certain excess and surplus lines, where competition and regulatory restraints are a burden, said its chief executive officer.
NY AG Sues Citibank for Mishandling Fraud
A New Yorker discovered $40,000 had been stolen from her retirement savings account after receiving a text message appearing to be from Citibank.
Florida Bill Would Allow Surplus Lines to Take Out Vacation Homes
A bill is moving through the Florida senate that would open the door to surplus lines carriers seeking to take out secondary, or vacation, homes covered by Citizens Property Insurance Corp.
Chubb’s Fourth-Quarter Profit Surges on P/C, Life Gains
Chubb Ltd.’s fourth-quarter profit more than doubled with the help of a tax benefit, record property/casualty underwriting income and 20.3% gains in life insurance net premiums written.
Business Groups Sue California to Block Climate Disclosures
A coalition of business groups sued California to overturn a state law that would require thousands of companies to publicly report their greenhouse-gas emissions.
Global Ransomware Attacks Reach Record High for 2023
Corvus Insurance, the leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, today released its Q4 2023 Ransomware Report. Featuring data collected from ransomware leak sites, the report shows that while Q4 attacks were down slightly from Q3 2023, ransomware activity for the year surpassed 2022 totals by 68 percent.