London-based Arch Insurance International has authorized cryptocurrency insurer Evertas to increase the coverage limit for a single policy to $420 million for custodians or exchanges in what the U.S firm said is the highest in the industry. The move is …
A recent report by the Medical Professional Liability Association shows the medical professional liability insurance sector’s combined ratio improved from 108.1% in 2021 to 102.2% in 2022 – marking the industry’s best performance since 2017. However, the industry still has …
Chemical makers Chemours Co., DuPont de Nemours Inc., and Corteva Inc. said on Friday they would set up a $1.19 billion fund to settle PFAS-related drinking water claims in the United States. The companies are facing several lawsuits in the …
The unwinding of the blank-check stock frenzy, one of the hottest pandemic-era trends on Wall Street, is playing out its last act on a different stage: the courtroom. The raucous boom in special-purpose acquisition companies — which bankrolled takeovers that …
The U.S. government’s auto safety agency plans to require that all new passenger cars and light trucks include potentially life-saving automatic emergency braking and meet stricter safety standards within three years. Wednesday’s announcement by the National Highway Traffic Safety Administration …
A federal lawsuit claims FEMA failed to take into account skyrocketing flood insurance costs generated by its new rating system, Risk Rating 2.0. Ten states, along with 43 Louisiana parishes and more than a dozen levee districts, are suing FEMA, …
Everest Insurance Appoints Maritzen Global Chief Underwriting Officer Everest Insurance, the insurance division of Everest Re Group, Ltd., has named Mark Maritzen as global chief underwriting officer. Maritzen is based in New York. Maritzen will oversee all aspects of global …
Two new hurricane forecast models promise to help property owners and insurers better predict the losses from storms that may be increasing in intensity as ocean waters continue to warm. The National Hurricane Center announced just ahead of the 2023 …
Several reasons were given within State Farm’s announcement last week the carrier was no longer writing new personal or business property/casualty policies in California – including a challenging reinsurance market, increased risks and historic increases in construction costs outpacing inflation. …
According to an analysis by CoreLogic, about 33 million U.S. homes with a combined reconstruction cost value of $11.6 trillion are at risk of hurricane-force winds. CoreLogic released its 2023 Hurricane Risk Report to mark the start of the Atlantic …
