Judge in $6 Billion 3M Settlement Issues Order to Stop Litigation Funding September 12, 2023 By Chad Hemenway A federal judge has barred attorneys and claimants involved in 3M’s $6 billion settlement with U.S. military servicemembers from any...
First-Half P/C Underwriting Loss Just $2B Shy of Loss for All of 2022 September 12, 2023 The total net underwriting loss of $24.5 billion for the U.S. property/casualty industry after the first six months of 2023...
Q2 US Commercial Lines Prices Up 6.1%: WTW September 12, 2023 According to WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), commercial insurance prices in the U.S. continued to increase in the...
Executives Go Quiet on Diversity After Affirmative Action Ruling September 11, 2023 US executives drastically cut back on public discussions of workplace diversity last quarter, in the first earnings season since the...
Judge Rules Against Consumer-Watchdog Anti-Discrimination Effort September 11, 2023 By Jody Godoy A federal judge has ruled that the U.S. Consumer Financial Protection Bureau (CFPB) does not have broad authority to tackle...
KKR Invests Additional $1 Billion in USI to Become Largest Shareholder September 11, 2023 USI Insurance Services said Monday that KKR is making a new equity investment of more than $1 billion to become...
Insurance Industry Should Expect $100 Billion in Catastrophe Losses Every Year: Verisk September 11, 2023 By Chad Hemenway Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in...
Non-Life Insurers’ Profits to See Boost From Higher Rates September 11, 2023 Non-life insurers are set to significantly improve their profitability in the next few years as investment returns from higher rates...
SpaceX’s Starship Probe Ends With 63 Regulatory Fixes September 11, 2023 By Joey Roulette The U.S. Federal Aviation Administration wrapped up a technical investigation into SpaceX’s April test launch of its giant Starship rocket,...
Lee’s Rapid Growth Rewriting Hurricane Rule Book September 11, 2023 By Jeff Martin Hurricane Lee is rewriting old rules of meteorology, leaving experts astonished at how rapidly it grew into a goliath Category...