Auto-Owners Insurance is preparing to sue the state of Michigan over the state’s insistence on the continued enforcement of parts of the 2019 no-fault auto insurance reform to drivers who were injured before the passage of the law.
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Insurers Prepare Models as Meteorologists Predict Record Hurricane Season
Insurers are preparing for an active hurricane season in the North Atlantic. Forecasters such as Colorado State University and the National Hurricane Center predict 17 to 25 named storms.
U.S. Commercial Insurance Rates Maintain Predictable Trend at 6.3%
U.S. commercial insurance prices have maintained a steady trend with respect to consistent, routine, price increases, according to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS) for the first quarter of 2024.
Moody’s: Cyberattacks Pose Increasing Threat to Creditworthiness
The costs from cyberattacks — from business interruption to ransomware payments and legal settlements — pose an increasing threat to company creditworthiness due to loss of customers, theft of intellectual property or a break in revenue flows, Moody’s Ratings said.
What Does the Active Hurricane Season Mean for the Texas Home Insurance Crisis?
We’ve heard from several outlets that the 2024 Atlantic hurricane season is projected to be explosive. In May, for example, the National Oceanographic and Atmospheric Administration (NOAA) projected an 85% chance of an “above-normal” season with multiple major hurricane possibilities.
Congressional Committee Finds Wall Street ‘Colluded’ to Curb Emissions
A U.S. congressional committee will accuse the biggest Wall Street firms on Tuesday, in a report seen by Reuters ahead of its publication, of colluding with advocacy groups to force companies to shrink their greenhouse gas emissions.
The Cost of Home Ownership Is Surging for Americans
US homeowners are now paying an average of $18,118 a year on property taxes, homeowners’ insurance, maintenance, energy and various other expenses linked to owning a home, according to a new Bankrate study.
Catastrophe Bond Sales Hit Record High as Markets Brace for Rough Hurricane Season
The issuance of catastrophe bonds has reached a new high, as the market braces for a tough hurricane season with the potential to cause significant damage.
U.S. Chamber of Commerce Research Shows Nuclear Verdicts’ Amount, Frequency Continue to Increase
Massive jury awards of $10 million or more—known as “nuclear verdicts”—continue to increase in size and frequency, according to a new study released today by the U.S. Chamber of Commerce Institute for Legal Reform.
Extreme Weather Disrupting the Finer Things in Life
As the world warms, extreme weather is disrupting the production of some of life’s great comforts—wine, olive oil, coffee and cocoa. Some of these crops are concentrated in one or two regions, which means wonky weather in one part of the world can have a dizzying impact on global prices.