National News

3M Faces $100 Billion in Losses From Veterans’ Earplug Suits, Expert Says

3M Co. faces more than $100 billion in losses and bankruptcy because of lawsuits brought by veterans who blame their hearing problems on faulty earplugs, according to a litigation consultant hired by lawyers suing the industrial conglomerate. Initial results from …

P/C Underwriting Profitability to Worsen as Inflation, Hard Market Persist: Triple-I, Milliman

The 2022 combined ratio for the property/casualty insurance industry is forecast to be 100.7, a worsening of 1.2 points relative to 2021, driven by significant deterioration in the personal auto line. Loss pressures and a hard P/C market are expected …

Applied Systems Acquires Tarmika

Applied Systems said it has acquired Tarmika, a leading commercial lines rating solution that streamlines small business insurance. This complementary acquisition will expand Applied’s commercial quoting and Ivans’ distribution connectivity solutions to create a more valuable and digital distribution experience …

Q2 Commercial P/C Premiums Up 6.1%: CIAB

The second quarter 2022 marked a full five years of premium increases for across all lines of commercial insurance business, according to the latest report from the Council of Insurance Agents and Brokers (CIAB). The average premium increase across all …

People Moves: Senior Roles at Ryan Specialty Underwriting Managers; Snyder Named President U.S. Insurance at Argo; Kovach Joins Concert

Ryan Specialty Appoints New Senior Leadership within Underwriting Managers Specialty Chicago-based Ryan Specialty has made appointments to three new senior leadership roles within the Underwriting Managers specialty. Brian Lillis, Chief Operating Officer, has been with Ryan Specialty Underwriting Managers for …

Much of the Country to Bake Under 125-Degree Days in Coming Decades, Report Finds

In just 30 years, more than a quarter of the United States, including a large patch of the Upper Midwest, will face days with temperatures above 125 degrees and will see almost three times as many days above 103 degrees, …

Citi Sues Revlon Over Lender Status After $900 Million Mistake

Citigroup Inc. has sued Revlon Inc. in a bid to resolve a nagging legal question that emerged after the bank mistakenly wired $900 million to the cosmetics giant’s lenders and intensified after Revlon filed for bankruptcy. When Citi accidentally sent …

Starbucks Seeks to Pause Union Elections at U.S. cafes, Claims Misconduct

Starbucks on Monday accused the federal labor board overseeing union elections at its U.S. cafes of misconduct and asked for elections to be suspended nationwide pending the outcome of an investigation. The coffee chain said in a letter to National …

Coalition to Now Offer Cyber Policies With Acquisition of Admitted Carrier

Coalition said it received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance Company is a property and casualty insurer licensed in all 50 states. The acquisition …

Viewpoint: More Sweeping Cellphone Laws Reduce Crash Rates

It’s common knowledge that texting while driving is illegal in most places. But what about tapping the screen of your cellphone to accept a faster route suggested by Google Maps? What if your phone is mounted on the dashboard? What …

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