Climate troublemaker La Niña isn’t here yet – but it is on the way, federal weather forecasters said in a report released Thursday morning.
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Liberty Mutual Q1 Net Income Leaps to $1.54B; U.S. Premiums Drop as Rates Climb
Liberty Mutual Holding Co. Inc. swung to a $1.54 billion net attributable income in the first quarter from a $74 million attributable net loss a year earlier on improved losses and the sale of GRM West operations, according to President and Chief Executive Officer Tim Sweeney.
White House to Push Cybersecurity Standards on Hospitals
The Biden administration intends to require hospitals to meet minimum cybersecurity standards after a single hack exposed the data of 100 million Americans.
Hamilton Insurance CEO: $37.9M Baltimore Bridge Loss Will Boost Positive Rate Trend
Hamilton Insurance Group Ltd.’s chief executive officer said the Baltimore bridge collapse is likely one of the largest potential marine losses ever to hit the market, as the group’s first-quarter profit and premiums surged amid positive market conditions.
Risk Professionals Take on Emergent AI, Climate Change and Global Conflict
Generative artificial intelligence, geopolitical tension, punishing climate events—the list of headaches for businesses’ risk managers can seem to be in a perpetual state of growth.
Pfizer Agrees to Settle Over 10,000 Zantac Lawsuits
Pfizer has agreed to settle more than 10,000 lawsuits about cancer risks related to the now discontinued heartburn drug Zantac, Bloomberg News reported on Wednesday, citing people familiar with the deal.
Louisiana Governor Signs Insurance Crisis Bills into Law
The Louisiana governor signed four bills into law on Tuesday, which would tackle the state’s insurance crisis.
NAMIC Applauds Pause to Fannie Mae, Freddie Mac Guidance Changes
The National Association of Mutual Insurance Companies welcomed the announcement today that government-sponsored enterprises Fannie Mae and Freddie Mac are delaying implementation of changes to guidance that would have drastically increased costs for millions of Americans.
Munich Re Q1 Net Income Soars on Rates Despite Bridge Event
Munich Reinsurance Co. saw lower catastrophe losses, even as man-made losses rose due to the Baltimore bridge disaster, as first-quarter profit soared 68.4% on high rates and strong April 1 renewals.
Pricier Insurance Makes Sense as Climate Risk Grows, Chubb CEO Says
Surging insurance premiums in regions vulnerable to climate change make sense, and government efforts to hold back those increases won’t work in the long term, Chubb Chief Executive Evan Greenberg said.