After Billions in Insured Losses, 2024 Hurricane Season Ends

Total estimated losses from five landfall hurricanes could reach near $70 billion.

Allstate Sues Hyundai, Kia Over Claims From Defective Cars

The subrogation suit aims to get back costs paid for damages from car fires.

National News

• Zurich Completes $600M Buy of AIG’s Travel Insurance Business
• Apple Accused of Silencing Workers, Spying on Personal Devices
• Triple Threat Targets More Than 30,000 US Homes: CoreLogic
• People Moves: Liberty Mutual Names Orloff President, Global Risk Solutions N.A.
• Trump Team Has Ivy League in Sight as It Gears Up Attacks on DEI
• Flavored Vape Products Dispute Goes Before US Supreme Court
• AM Best Revises Outlook for US Personal Lines Insurance Segment to ‘Stable’

East News

• Best Agency to Work For – East Bronze Winner: USI Insurance Sevices
• Hoboken Dealing With Ransomware Attack
• Prosecutors Say Retail Thieves Stole $2M in Products Then Resold Them
• Ex-TV Host Charlie Rose Resolves Sexual Harassment Lawsuit
• People Moves: Hatchette Named Deputy Insurance Commissioner in Maryland
• New Jersey Using Buyouts and Barriers to Battle Flooding

Midwest News

• Best Agency to Work For – Midwest Bronze Winner: The Bulow Group
• GM to Sell Stake in Michigan EV Battery Plant to LG Energy
• Ohio Manufacturer Faces $255K Fine After Worker Suffers Partial Amputation
• Best Agency to Work For – Midwest Silver Winner: Ansay and Associates
• Rockford Mutual to Expand Commercial Lines Products in Michigan
• Energy Department to Loan $7.5B for Electric Vehicle Battery Plants in Indiana

Outlook for US Commercial Insurance Segment ‘Stable’

Commercial insurers overall reported favorable underwriting results through Q3 2024, AM Best said.

Texas / South Central News

• Best Agency to Work For – South Central Bronze Winner: SMA
• Oklahoma Farm Fined $72K for Denying Workers Overtime Pay
• Venture Global LNG Considers Fifth Export Project in Louisiana
• Best Agency to Work For – South Central Silver Winner: G&G
• Texas Farmers Say Forever Chemicals in Fertilizer Poisoned Their Land
• ‘Drill, Baby, Drill’ Is Unlikely Under Trump, Exxon Says

Southeast News

• Old Damage, New Claim: Davies Risk Head Notes Rise in ‘Soft Fraud’ in Southeast
• FEMA Drops Hammer on Fort Myers Beach After Improper Rebuilding in Flood Area
• Best Agency to Work For – Southeast Bronze Winner: Brightway Insurance
• Aspiring Alabama Country Singer/Claims Adjuster Charged After Violating Bond at CMA
• Best Agency to Work For – Southeast Silver Winner: Energy Insurance
• Carolina Woman Charged with Using Mom’s Name to Get Policy, Filing Bogus Claim

Global Insurance Rates ‘Plateauing;’ Nat Cat Losses Delay Softening

Global non-life premiums are expected to hit a growth level of 4.3% in 2024.

West News

• California Eyes $25 Million Legal Fight Against Trump Plans
• Best Agency to Work For – West Bronze Winner: Heritage Insurance Agency
• People Moves: Symphony Risk Names Tobin Director of Dedicated Cannabis Business, Symphony Grow
• New Mexico Man Gets $412M Medical Malpractice Payout for Botched Injections
• Washington Workers’ Comp Premium Going up in 2025
• Best Agency to Work For – West Silver Winner: CMR Risk & Insurance Services

International & Reinsurance News

• Italy to Require Companies Buy Insurance for Climate Risks
• Rising Sick Days Are Costing Europe Billions Every Year
• UK Business Activity Set to Shrink in Wake of Budget, CBI Says
• Arthur J. Gallagher & Co. Acquires Brokerages in Canada and Australia
• People Moves: Ryan Specialty Underwriting Managers Int’l Names Birrell Exec Chair, Montgomery as CEO; Howden Re Taps Aon’s Kroely as MD for Continental Europe
• International Court Begins Hearings That May Shape Global Climate Litigation

Insurance Journal Blogs and Columns

• Profits Versus Christmas Cheer—A Good-Business Lesson Dec 2
• Selectsys Max: The Future of Web-Based Insurance Management for MGAs and Wholesalers Dec 2
• Expenses Needed To Start an Insurance Agency Nov 28
• 6 Variations on Producer Licensing for Travel Lines Nov 27
• 4 Things You Should Know about E&O Insurance for Insurance Agents Nov 21
• Key Benefits of Underwriter Link: Seamless Integration with Legacy Systems and Enhanced Client Satisfaction for Wholesalers, MGAs, and Brokers Nov 21

Sponsored Newswire

• Risk Theory Launches New High Value Homeowners Insurance

Quote of Note

If your insurance company is going to increase your premium, you have a right to know why. … This is pretty basic information you should expect from your insurance company, but we hear from hundreds of consumers every year who cannot get a clear, understandable answer on why they're being charged more.

Mike Kreidler, Washington Insurance Commissioner

More Quotes

Insurance Top Gainers/Losers

• Gainers
• Losers

Company	Symbol	Close	1 Day Chg
HCI Group, Inc.	HCI	$123.75	+1.54%
Donegal Group Inc.	DGIC.A	$16.78	+0.84%
United Fire Group, Inc.	UFCS	$30.84	+0.78%
Hagerty, Inc.	HGTY	$11.87	+0.76%
Tiptree Inc.	TIPT	$22.95	+0.70%

Company	Symbol	Close	1 Day Chg
ProAssurance Corporation	PRA	$16.24	-2.58%
Markel Group Inc.	MKL	$1,670.33	-2.11%
The Allstate Corporation	ALL	$196.60	-1.69%
American International Group, Inc.	AIG	$75.30	-1.32%
Marsh & McLennan Companies, Inc.	MMC	$220.73	-1.31%

* As of December 2, 2024; Source: S&P Global Market Intelligence

Market Stat

900

The approximate number of citations issued by U.S. law enforcement for traffic violations per 100 million vehicle miles traveled, according to data analytics company TransUnion.