Chubb Ltd. sees strong underwriting conditions everywhere but financial lines and certain excess and surplus lines, where competition and regulatory restraints are a burden, said its chief executive officer.
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NY AG Sues Citibank for Mishandling Fraud
A New Yorker discovered $40,000 had been stolen from her retirement savings account after receiving a text message appearing to be from Citibank.
Florida Bill Would Allow Surplus Lines to Take Out Vacation Homes
A bill is moving through the Florida senate that would open the door to surplus lines carriers seeking to take out secondary, or vacation, homes covered by Citizens Property Insurance Corp.
Chubb’s Fourth-Quarter Profit Surges on P/C, Life Gains
Chubb Ltd.’s fourth-quarter profit more than doubled with the help of a tax benefit, record property/casualty underwriting income and 20.3% gains in life insurance net premiums written.
Business Groups Sue California to Block Climate Disclosures
A coalition of business groups sued California to overturn a state law that would require thousands of companies to publicly report their greenhouse-gas emissions.
Global Ransomware Attacks Reach Record High for 2023
Corvus Insurance, the leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, today released its Q4 2023 Ransomware Report. Featuring data collected from ransomware leak sites, the report shows that while Q4 attacks were down slightly from Q3 2023, ransomware activity for the year surpassed 2022 totals by 68 percent.
ITRC Report Reveals 72% Increase in Data Compromises Over Previous High
According to ITRC’s 2023 Annual Data Breach Report, the number of data compromises in 2023 (3,205) increased by 78 percentage points compared to 2022 (1,801). The ITRC set a new record for the number of data compromises tracked in a year, up 72 percentage points from the previous all-time high in 2021 (1,860).
Coalition Launches New Miscellaneous Professional Liability Insurance Coverage
Coalition, the Active Insurance provider, has announced its new Miscellaneous Professional Liability (MPL) Insurance coverage.
Cigna Sells Medicare Business to Health Care Service Corp. for $3.3 Billion
Cigna Group has agreed to sell its Medicare business to Health Care Service Corp. for $3.3 billion.
Inside the U.S. Senior Care Crisis
Nearly 70% of older adults will need long-term care services, according to Harvard’s Joint Center for Housing Studies. But for many individuals, the cost of affordable long-term care services is beyond their reach in an industry facing higher labor and supply costs, a labor shortage, and other challenges. According to KFF (Kaiser Family Foundation) and The New York Times, nearly three million older Americans who need long-term care are not receiving it due to lack of accessibility and the high cost of assisted living facilities, nursing homes, and aides at home.