Articles by Suzanne Barlyn

Regulators Weigh Model Law for Pet Insurance to Address Consumer Peeves

U.S. insurance regulators are close to creating a legal standard for pet insurance that would address long-standing consumer complaints that insurers rarely pay up when their furry friends are not well. A National Association of Insurance Commissioners (NAIC) committee is …

Regulators Weigh Model Law for Pet Insurance to Address Consumer Peeves

U.S. insurance regulators are close to creating a legal standard for pet insurance that would address long-standing consumer complaints that insurers rarely pay up when their furry friends are not well. A National Association of Insurance Commissioners (NAIC) committee is …

Bail Bond Insurance Industry Spends to Defend Profitable Business Against Critics

Insurance companies have spent $17 million to defeat proposals to weaken or abolish the for-profit bail industry in the United States, a system that brings insurers $15 billion in business a year, according to a Reuters analysis of campaign contributions, …

Insurance Losses From Texas Storm May Set First Quarter Record: A.M. Best

Insurers could suffer record first-quarter catastrophe losses after the historic Texas winter storm, which crippled the state’s electrical grid and caused extensive property damage including collapsed roofs and broken pipes, insurer credit rating agency A.M. Best said on Friday. The …

Insurers Expect ‘Hundreds of Thousands’ of Claims from Texas Storm

U.S. property insurers are bracing for claims for damage from collapsing roofs, bursting pipes and lost business as Texas takes stock of its losses from a winter storm that has crippled its electrical grid. Insurers’ losses could stretch into billions …

AIG Hikes Rates Up to 45%; Reports Interest in Life/Retirement Unit Sale

American International Group Inc. said on Wednesday it is hiking some commercial insurance rates by as much as 45%, a trend it sees persisting in 2021, as the company prepares to install Peter Zaffino as its new chief executive on …

Florida Consumers ‘Flabbergasted’ by Property Insurance Rate Hikes

Florida property insurers are jacking up rates by double-digit percentages, blaming the hikes on lingering damage from past hurricanes, a wave of litigation, and a law that encourages lawyers to sue by allowing courts to award them big fees. The …

Travelers Insurance Profit Soared in Q4 on Fewer Claims, Investment Gains

Property and casualty insurer Travelers Cos. Inc. reported a jump in quarterly profit that beat analysts’ estimates on Thursday, helped by an increase in returns from investments and lower catastrophe claims. Travelers reported a core income of $1.26 billion, or …

Taxpayers, Not Insurance, to Cover Costs of Capitol Damage by Trump Mob

U.S. taxpayers will be on the hook for damage from a mob attack on the U.S. Capitol in Washington on Wednesday because the building and grounds are not insured, industry sources said. Supporters of Republican President Donald Trump angry at …

Rising Lawsuits Over Lack of Diversity Pushing Insurers to Look Closer at Recruiting, Succession Practices

U.S. insurers are taking a closer look at the recruiting and succession practices of corporate customers, worried about mounting lawsuits over a lack of diversity among top executives and directors, industry sources said. Insurers are meeting company officials to examine …