Vehicle thefts continue to surge nationwide, challenging vehicle owners and law enforcement agencies hoping to curb this growing crime trend.
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CAC Exec: Liability Fallout Will Take Years as Clean-up Begins for Baltimore Bridge Disaster
Insurance fallout from the collision of a container ship with the Francis Scott Key Bridge in Baltimore will take a decade or more to play out in the courts, said an executive with a commercial lines broker.
FL Homeowners Insurance Hikes Slowed at the End of 2023
Home insurance rates in Florida far outpaced inflation over the 18 months that ended on Dec. 31, but the rate of increase slowed in the fourth quarter of 2023 to its lowest point of the period.
Zurich to Stop Insuring New Oil and Gas Projects
Zurich Insurance Group Ltd. said it will stop insuring new oil and gas projects.
Insurers Using Aerial Home Images to Assess Risk
Across the U.S., insurance companies are using aerial images of homes as a tool to ditch properties seen as higher risk.
Global Reinsurance Industry Capital Hits $729B in 2023: Gallagher Re
The dedicated capital of the global reinsurance industry increased 12% year-on-year to $729 billion in 2023, driven by improved profitability in the year, according to Gallagher Re’s latest Reinsurance Market Report.
Norfolk Southern Agrees to $600M Ohio Derailment Settlement
Norfolk Southern agreed to pay $600 million to settle lawsuits brought by individuals and businesses in connection with a toxic train derailment in Ohio early last year.
Amazon Can’t Escape Potentially Huge Biometrics Class Action Over Virtual Try-on Tool
A Cook County woman and her attorneys have won approval to move forward with a class action lawsuit under Illinois’ biometrics privacy law against Amazon for allegedly improperly scanning the faces of people using its online virtual try-on tool when buying cosmetics.
Dog-Related Injury Claim Payouts Hit $1.12B in 2023
U.S. insurers paid out $1.12 billion in dog-related injury claims in 2023 according to the Insurance Information Institute (Triple-I) and State Farm.
NAIC Adopts First National Climate Resilience Strategy for Insurance to Close Coverage Gaps, Improve Recovery from Natural Disasters
Putting the focus on reducing losses and speeding recovery from natural disasters, the National Association of Insurance Commissioners’ (NAIC) Membership adopted the first-ever NAIC National Climate Resilience Strategy for Insurance to protect the nation’s property insurance market.