The U.S. Supreme Court agreed to hear a case in which an insurance company is challenging a bankruptcy reorganization plan that it says doesn’t protect it against fraudulent claims tied to asbestos exposure.
Author: Annie George
U.S. Plans to Push Other Countries Not to Pay Hacker Ransoms
The U.S. is pushing a group of governments to publicly commit to not make ransom payments to hackers ahead of an annual meeting of more than 45 nations in Washington later this month.
Home Insurance Is So High in West Palm Beach Town, Residents Are Leaving
Florida’s explosion in insurance premiums threatens to ground the state’s highflying housing market. Florida home prices soared more than 60% since 2019, according to real-estate brokerage Redfin.
Three Out of Four Small Businesses in the U.S. Aren’t Protected Against Claims
Hiscox, the leading small business insurer, found that 75% of small businesses in the US are underinsured, and over 70% do not understand what business insurance covers.
Slide Acquires Renewal Rights for Farmers’ Homeowners Policies in Florida
Slide Insurance, the full-stack insurtech providing effective homeowners coverage for the Florida market, today announced it has acquired renewal rights for 86,000 Florida homeowners insurance policies from Farmers Insurance®.
Surge in Health Insurance Costs Pose Next Challenge for Finance Chiefs
Companies are seeing health-insurance costs climb at the steepest rate in years, a trend that has finance chiefs looking for ways to remain competitive with job seekers while managing those higher expenses.
Progressive’s Q3 Earnings Beat Estimates, Premiums Rise Y/Y
The Progressive Corporation’s third-quarter 2023 earnings per share of $2.09 beat the Zacks Consensus Estimate of $1.71. The bottom line improved more than fourfold year over year.
Ultimate Risk Services’ “Grow Your Agency Program” Increases Revenue, Retention
Philadelphia-based Ultimate Risk Services (URS), a leader in cybersecurity and workplace safety solutions, is pleased to announce the onboarding of several forward-thinking insurance agencies to our cutting-edge “Grow Your Agency” program that increase revenues, retention, and differentiation.
Commercial Renewal Rates Up Month Over Month
The third quarter results of 2023 showed premium renewal rate change for all major commercial lines of business, except Workers’ Compensation, are up year over year. Q3 experienced an increase in average premium renewal rate change across all major commercial lines.
AM Best: U.S. P&C Rating Downgrades Outpace Upgrades in First-Half 2023
The U.S. property/casualty (P/C) insurance industry experienced an increase in Credit Rating (rating) downgrades in the first half of 2023, reflecting a difficult period for the personal lines segment, according to a new AM Best report.