Although analysts at Fitch Ratings estimate that combined ratios for the directors and officers liability line remained below breakeven in 2022, with competition fueling price declines and the economic conditions uncertain, the line is under pressure. Fitch delivered the conclusion …
What can insurance carriers expect in 2023 in terms of new codes and construction technologies in the wake of one of the most devastating natural disasters that the nation has ever experienced? Much stronger building and site development regulations in …
A Cognizant report published last year, titled a pragmatist’s guide to the Metaverse, said if you ask three people what the Metaverse is, you’ll get three different answers. Insurance Journal recently tested that theory — and dissected the developing virtual …
Geico General Insurance Co. must face a class action suit alleging it has been underpaying benefits to its insureds injured in automobile accidents. U.S. District Court Judge Dora L. Irizarry in federal court in Eastern New York certified the class …
Nearly a third of injured workers in Massachusetts sought treatment for strains and sprains in a hospital emergency room, while in California and Nevada only 10% did, according to a study by the Workers’ Compensation Research Institute. That wide disparity …
The vast majority of commercial property, i.e., assets, are no longer physical. The majority of commercial assets are intangible. In fact, the overwhelming majority of assets owned by insurance agencies are intangible. They consist of those things called “expirations.” Other …
National NSM, Sequoia Reinsurance Services, Rockport Benefits, Insurance Resources and Auditing Services Pennsylvania-based insurance program specialist NSM Insurance Group completed its acquisition of three businesses that specialize in the field of medical stop loss insurance and managed care insurance. The …
Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from global analytics provider Verisk and the American Property Casualty Insurance Association (APCIA). The industry recorded a net underwriting loss …
Responsibility to Act “Insurers, as society’s risk managers, have a special responsibility to act and the power to drive change: without insurance most new fossil fuel projects cannot go ahead and existing ones cannot continue to operate.” — Reads part …
Generative AI is the next big technology trend in just about every industry. But for such a people-centric industry, how will ChatGPT, DALL-E 2 and Bing AI truly impact the insurance sector? Just ask ChatGPT, as some insurance pros have …
