National Mitsui Sumitomo Insurance Co., W.R. Berkely Corp. Japanese property/casualty insurer Mitsui Sumitomo Insurance Co. will buy a 15% stake in W.R. Berkely Corp. through open market purchases or private transactions with third parties. W.R. Berkely said the Berkely family …
A multiday severe weather outbreak in the central U.S. caused an estimated $80 billion to $90 billion in total damage and economic loss, according to a preliminary estimate from AccuWeather. From April 2 to April 6, a rare weather system …
U.S. and Canada auto sales could decline by 1.8 million vehicles this year and be stagnant over the next decade if the global trade war escalates, a Detroit-area automotive advisory firm forecasts. If the current tariffs stay in place until …
According to a new report from the Insurance Research Council, auto insurance is more affordable now than at the start of the 21st century. The IRC, an affiliate of The Institutes, concluded that the average expenditure for auto insurance–as a …
Buyers of directors and officers (D&O) liability insurance have benefited from strong capacity and healthy competition among insurers to see consistent rate decreases at renewal over the last several years. Those days may be coming to an end thanks to …
Proxy Discrimination “The data insurers use for risk-based pricing is data that is actuarially sound and correlated with risk and does not include nor use certain protected class attributes. To argue that insurer use of data, algorithms, or AI in …
Wouldn’t it be nice to know what the future holds? The insurance market, the economy, and consumer expectations are all shifting, making it hard to know where to focus. The Council of Insurance Agents & Brokers (CIAB) reports that fourth-quarter …
“I conceive that the great part of the miseries of mankind are brought upon them by false estimates they made of the value of things.” — Benjamin Franklin It seems difficult to watch a daily newscast that doesn’t have a …
More than half of small business leaders believe artificial intelligence will play a “crucial role” in worker safety over the next five years, according to a new report from Pie Insurance. A survey of decision-makers from just over a thousand …
An employee who claimed he injured his knee while swinging a club during an employer-sponsored TopGolf event has failed to qualify for workers’ compensation benefits. The Virginia Workers’ Compensation Commission (VWCC) recently upheld a deputy commissioner who found that the …
