Cyber Insurers Curb Appetite as Losses Mount
Insurers are changing their limits, coverage and pricing the face of hefty payouts
Rise in Demand Could Break Premium Records
Swiss Re expects premiums to grow by 3.4% in 2021, 3.3% in 2022 and 3.1% in 2023.
- Gallagher Completes $3.25B Purchase of Willis’ Treaty Reinsurance Brokerage Business
- Insurance Technology: Chubb Enhances Cyber; Sompo Teams with Praedicat; Willis, CodeEast Eye Product; FMl Adds Home Help
- Finland Battles Malware Attack Spread by Text Messages
- Bain Capital Makes Final Pitch for UK Mutual Insurer LV=
- Howden Acquires Specialist Broker Expat Marine in Hong Kong
- Judge Tosses $10B Advertising Bias Lawsuit Against McDonald’s for Insufficient Evidence
- Virginia School District Suit Settled Over Treatment of Students with Disabilities
- New York Seeks Monitor to Oversee Amazon Worker Safety
- Risk Strategies Acquires New Jersey’s KRA Insurance Agency
- People Moves: Promotions at Erie, Cross Insurance
- Lawsuit Alleges Discrimination at Wilmington Fire Department
- Delaware Workers’ Compensation Insurance Rates to Decrease for Fifth Year
- People Moves: PCF in Utah Adds O’Hara, Banyai and Marino
- Ryan Specialty Acquires Crouse and Associates in California
- The Liberty Company Insurance Brokers Acquires D.E.P. in California
- New Mexico Sees Lower Costs Worker’s Comp Insurance
- Workers’ Compensation Insurance Rating Bureau of California Profiles Restaurant Industry
- Takeaways from Our Conversation on State Cannabis Regulations and Their Impact on Insurance
- Florida Appeals Court Rejects Insurer’s Attempt to ‘Retry the Claim’
- Walmart Said She Shoplifted; Jury Awards Her $2.1 Million
- Insurers Taking Note of Big Verdicts, But Trial Lawyers Say Don’t Count on Changes
- Brightway, Guard Expand in Southeast States
- Tennessee Approves 5.6% Cut in Workers’ Comp Loss Costs; COVID Impact Uncertain
- Georgia, North Carolina Move to Beef up Benefits for First Responders
- Texas Barge Company to Pay More Than $15 Million Over Oil Spill
- DOJ, Texas Church Shooting Victims At Odds Over How Much Air Force Owes
- Marsh McLennan Acquires Texas-Based Insource
- Louisiana Department of Insurance to Hold Second Ida Relief Resource Center
- People Moves: Risk Strategies Appoints Lyons National Education Practice Leader; Waypoint Wholesale Names Nickoles CEO
- Texas Surplus Lines Association Names New Executive Leadership
- Michigan Abandons Oil Pipeline Suit, Refocuses on Separate Case
- Nebraska Jury Awards $26 Million in Malpractice Lawsuit
- Families of Two Illinois College Students Killed at Astroworld Concert File Lawsuits
- Nebraska Garage Fire Destroys More than $1 Million in Vintage Cars, Motorcycles
- People Moves: Lockton Names Roberts COO of Midwest Operations; Alliant Hires Healey
- Indianapolis School District Joins Vaping Lawsuit
National News
- 4 Employees Sue Bristol Myers Claiming They Were Denied Vaccine Religious Exemptions
- Despite COVID, Comp Claims and Severity Declined in 2020, NCCI Says
- Biden Administration Extends Comment Period on OSHA Vaccine Rule to Jan 19
- Labor Group Calls for Probe of Amazon’s Reporting of Covid Cases at Facilities
- Judge Asks If Opioid Maker Purdue’s Owners Abused Bankruptcy to Shield Assets
- Amazon’s New FleetWise Transfers Vehicle Data to Cloud to Aid Safety, Design
- Judge Tosses $10B Advertising Bias Lawsuit Against McDonald’s for Insufficient Evidence
- Insurance Technology: Chubb Enhances Cyber; Sompo Teams with Praedicat; Willis, CodeEast Eye Product; FMl Adds Home Help
- High Street Acquires 27 Former Nationwide Agencies
East News
- Virginia School District Suit Settled Over Treatment of Students with Disabilities
- New York Seeks Monitor to Oversee Amazon Worker Safety
- Risk Strategies Acquires New Jersey’s KRA Insurance Agency
- People Moves: Promotions at Erie, Cross Insurance
- Lawsuit Alleges Discrimination at Wilmington Fire Department
- Delaware Workers’ Compensation Insurance Rates to Decrease for Fifth Year
Midwest News
- Michigan Abandons Oil Pipeline Suit, Refocuses on Separate Case
- Nebraska Jury Awards $26 Million in Malpractice Lawsuit
- Families of Two Illinois College Students Killed at Astroworld Concert File Lawsuits
- Nebraska Garage Fire Destroys More than $1 Million in Vintage Cars, Motorcycles
- People Moves: Lockton Names Roberts COO of Midwest Operations; Alliant Hires Healey
- Indianapolis School District Joins Vaping Lawsuit
Commercial Auto Improved Results in 2020
AM Best reports the combined ratio for 2020 improved to 101.8 from 109.3 in 2019.
Texas / South Central News
- Texas Barge Company to Pay More Than $15 Million Over Oil Spill
- DOJ, Texas Church Shooting Victims At Odds Over How Much Air Force Owes
- Marsh McLennan Acquires Texas-Based Insource
- Louisiana Department of Insurance to Hold Second Ida Relief Resource Center
- People Moves: Risk Strategies Appoints Lyons National Education Practice Leader; Waypoint Wholesale Names Nickoles CEO
- Texas Surplus Lines Association Names New Executive Leadership
Southeast News
- Florida Appeals Court Rejects Insurer’s Attempt to ‘Retry the Claim’
- Walmart Said She Shoplifted; Jury Awards Her $2.1 Million
- Insurers Taking Note of Big Verdicts, But Trial Lawyers Say Don’t Count on Changes
- Brightway, Guard Expand in Southeast States
- Tennessee Approves 5.6% Cut in Workers’ Comp Loss Costs; COVID Impact Uncertain
- Georgia, North Carolina Move to Beef up Benefits for First Responders
Where Prices Will and Won’t Moderate
Willis Towers Watson says some rate decreases could begin in 2022’s second quarter.
West News
- People Moves: PCF in Utah Adds O’Hara, Banyai and Marino
- Ryan Specialty Acquires Crouse and Associates in California
- The Liberty Company Insurance Brokers Acquires D.E.P. in California
- New Mexico Sees Lower Costs Worker’s Comp Insurance
- Workers’ Compensation Insurance Rating Bureau of California Profiles Restaurant Industry
- Takeaways from Our Conversation on State Cannabis Regulations and Their Impact on Insurance
International & Reinsurance News
- Howden Acquires UK Specialist Broker Ross Insurance Group
- Arthur J. Gallagher & Co. Buys Australia’s Sound Insurance Services
- Gallagher Completes $3.25B Purchase of Willis’ Treaty Reinsurance Brokerage Business
- Finland Battles Malware Attack Spread by Text Messages
- Western Canada Braces for Another Deluge From ‘Atmospheric River’
- Howden Acquires Specialist Broker Expat Marine in Hong Kong
- Xenia Buys UK Trade Credit and Surety Broker, Peter Hill Credit & Financial Risks
- People Moves: WTW Names Marsh’s Monaghan GB Transportation Leader; Sethu Leads Sustainability & ESG at MS Amlin; Howden’s Levett Is Head of Mkt. Mgmt. at Miller
Insurance Journal Blogs and Columns
- Unusual Weather We’re Having, Ain’t It?
- Five ways to help small businesses get ahead of holiday risks
- How to Get Your First Bond, Part 1
- CARES ACT Accommodations: A Success Story for Insurance Risk Scores
- Protecting your marine clients with the right carrier partnerships
- Insurance leaders agree on challenges facing the industry
Sponsored Newswire
More Sponsored NewswiresQuote of Note
"The legal battle over who will ultimately share in paying for losses associated with the pandemic is far from over."
More QuotesA.M. Best in Commercial Lines Outlook 2021
Insurance Top Gainers/Losers
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| United Fire Group, Inc. | UFCS | $21.82 | +4.30% |
| United Insurance Holdings Corp. | UIHC | $4.24 | +2.66% |
| The Hanover Insurance Group, Inc. | THG | $124.16 | +1.98% |
| Unico American Corporation | UNAM | $3.14 | +1.75% |
| Heritage Insurance Holdings, Inc. | HRTG | $6.74 | +1.20% |
| Company | Symbol | Close | 1 Day Chg |
|---|---|---|---|
| Root, Inc. | ROOT | $3.60 | -9.55% |
| Trupanion, Inc. | TRUP | $112.14 | -9.07% |
| Lemonade, Inc. | LMND | $45.05 | -8.90% |
| Hippo Holdings Inc. | HIPO | $3.48 | -4.92% |
| Trean Insurance Group, Inc. | TIG | $8.11 | -3.57% |
