The evolving economic landscape in California, marked by inflation and labor market changes, is profoundly impacting the state’s workers’ compensation system, with insurers adjusting premium rates and coverage options, while employers face higher premiums and regulatory compliance challenges.
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Addressing Huge Losses in the US Property-Casualty Sector
Significant losses in the personal auto and homeowner insurance segments are prompting insurers to refine risk management strategies, while the commercial sector remains resilient.
Preparing for AI Regulation and Litigation in the Insurance Industry
As AI technology permeates the insurance sector, companies must brace for regulatory scrutiny and potential litigation by developing transparent and ethical AI models to ensure compliance and build consumer trust.
Federal Appeals Court Hearing on ESG Rule: A Crucial Moment for the Insurance Industry
The upcoming federal appeals court hearing on the Biden administration’s ESG rule will have profound implications for how insurers incorporate environmental, social, and governance criteria into their business practices and investment strategies
State Farm Seeks Major Rate Hikes for California Homeowners and Renters
State Farm General is seeking to dramatically increase residential insurance rates for millions of Californians, a move that would deepen the state’s ongoing crisis over housing coverage.
Experts: Expect More Cyberattacks Like the CDK Global Outage
A software vendor has promised a quick fix to a crippling ransomware attack that has hit many of Connecticut’s car dealers — even as an expert on cybersecurity warns that more attacks are likely to impact all aspects of modern life.
Insurers Suing Norfolk Southern to Recoup Derailment Losses
A group of insurance companies filed a subrogation lawsuit against Norfolk Southern seeking to recoup on claims paid to cover damages from the February 2023 train derailment and subsequent release of toxic chemicals in East Palestine, Ohio, according to documents filed at the U.S. District Court for the Northern District of Ohio.
Ryan Specialty to Implement Leadership Succession Plan in October 2024
Under the plan, Patrick G. Ryan, the Company’s Founder, Chairman, and Chief Executive Officer, will transition to the role of Executive Chairman, and Timothy W. Turner, President of Ryan Specialty and Chairman and CEO of Ryan Turner Specialty (“RT Specialty”), will become Chief Executive Officer.
‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
Hurricane Beryl, described by forecasters as “extremely dangerous,” is set to cause massive damage across the Caribbean’s Windward Islands on Monday.
Insurance Carriers Warn Standardizing Cyber Policies Could Limit Future Coverage
Insurers told a congressional hearing Thursday that they need the flexibility to determine what they will and won’t cover under cyber policies, saying they are still trying to understand the risks associated with cyberattacks.