The U.S. Treasury late last week backed off a plan to have the Federal Insurance Office (FIO) collect data on climate-related risks from property/casualty insurers—an outcome that had been sought by the insurance industry since the proposal was published in …
Donald Trump secured a $91.6 million bond from insurer Chubb in order to allow the former president to appeal an $83.3 million verdict against him in the E. Jean Carroll defamation case. The surety bond contract with Chubb’s Federal Insurance …
A majority of Americans are unaware of third-party litigation funding but most believe state and federal laws should be changed to address abuses in the legal system. According to the results of a recent survey of 2,000 people conducted by …
Rating agency AM Best has assigned a negative outlook to the U.S. directors and officers liability insurance segment as more market entrants increase capacity and drive down pricing in the face of some troubling potential risk exposures. “The current pricing …
Overall commercial property/casualty premiums increased slightly for all account sizes to 7% on average in the fourth quarter 2023, continuing a trend that has now last more than 6 years. According to The Council of Insurance Agents and Brokers’ Q4 …
The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion according to data from 15 state surplus lines offices released by the Wholesale & Specialty Insurance Association (WSIA). 2023 premiums reflected a 14.6% …
A dispute between an insurer and a yacht owner went all the way to the U.S. Supreme Court with a decision recently—the first of its kind on marine insurance in about 70 years—to clarify federal maritime law and state insurance …
Insurtech Lemonade reported a fourth quarter 2023 net loss of $42.4 million and a net loss of about $237 million for the full year but its chief executive said the company has seen “dramatic progress.” Results were in comparison to …
Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and …
Chubb is writing more North American personal excess and surplus lines business, but the insurer’s chief executive is not exactly celebrating. While he reminded analysts during a fourth-quarter 2023 earnings conference call that the large majority of Chubb’s personal insurance …
