The Hartford has reported a net income of $645 million for the third quarter of 2023, a 93% increase from $334 million from the same period last year.
Author: Annie George
Climate Risk Threatens Insurability of Some Coastal Communities, Analysts Warn
Coastal communities could see their property values plummet as catastrophe-prone areas spur billions of dollars in losses — and have private insurance companies scaling back or leaving certain markets altogether, a new report warns.
Insurance Economic Drivers Could Outperform U.S. Economy by 2025 But Major Hurdles Remain
The economic drivers of the U.S. property/casualty (P/C) insurance industry could cumulatively expand faster than the nation’s gross domestic product (GDP) in 2024 and may outperform the overall U.S. economy by 2025, according to the Insurance Information Institute’s (Triple-I) latest Insurance Economics Outlook.
Half of Amazon’s Warehouse Workers Are Injured After Just 3 Years: Study
More than two-thirds of Amazon.com Inc. US warehouse workers surveyed by researchers reported that they took unpaid time off to recover from pain or exhaustion sustained on the job.
Pekin Insurance Announces Job Cuts, To Reduce Coverage in Storm-Prone Areas
Pekin Insurance, which offers property and casualty coverage in Illinois and six other states, has eliminated some full-time positions and will refocus duties of many remaining employees as part of what is being called an accelerated strategic plan.
California Regulators Suspend Recently Approved San Francisco Robotaxi Service for Safety Reasons
California regulators have revoked the license of a robotaxi service owned by General Motors after determining its driverless cars that recently began transporting passengers throughout San Francisco are a dangerous menace.
Risk Strategies Acquires North Bay Business Unit of InterWest Insurance Services, Expands Wineries Specialty Capabilities
Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced it has acquired North Bay, a business unit from InterWest Insurance Services, LLC, adding, among other capabilities, specialty expertise to its Wineries Practice.
EPA Proposes Banning Cancer-Causing Chemical TCE Used in Automotive Care, Other Products
The U.S. Environmental Protection Agency on Monday proposed banning the cancer-causing chemical trichloroethylene, which can be found in consumer products including automobile brake cleaners, furniture care and arts and crafts spray coating.
Marsh Launches Global Cyber Practice
Marsh today announced the launch of a new Marsh Specialty global cyber practice that integrates all of its cyber capabilities across insurance, risk intelligence, incident management, and cybersecurity around the world.
2023’s Severe Weather Events Are Proving Costly to U.S. Insurers
The U.S. is experiencing its costliest year ever in 2023 for severe convective storms, with insured losses from these events exceeding $50 billion through the end of September, according to the Insurance Information Institute (Triple-I.)