Travelers News

Survey: Broad Support for Renewables, Gap in Climate Change Awareness

There is overwhelming public support across the globe for using renewable energy, according to a new survey out from the Yale Program on Climate Change Communication. The international survey was published on Wednesday. It was conducted in partnership with Data …

Kansas Court: More Fact-Finding Required in Air Ambulance Case

Federal law may prohibit states from regulating prices charged to insurers by air ambulance providers, but that doesn’t absolve the Workers’ Compensation Board of its responsibility to determine whether the billed charges are “usual and customary,” a split Kansas Supreme …

Rapid Cyber Premium Growth by Fairfax, Tokio Marine Increased Share of Market

The top cyber insurance carriers in 2021 shifted to include Fairfax Financial Holdings and Tokio Marine U.S. as the marketplace grew 74% to over $4.8 billion, according to a report from Fitch Ratings. Overall, the top cyber insurance underwriters are …

35% of Workplace Injuries Occur During First Year: Travelers

A new study by Travelers of workers compensation claims found that 35% of injuries occur during employees’ first year on the job, regardless of age or industry experience. “Our data underscores the importance of comprehensive onboarding and training programs for …

Travelers CEO Schnitzer: Loss Costs ‘Challenging as Ever to Predict’

In the words of its CEO, there’s a “fair amount to pay attention to” from the first-quarter earnings call of Travelers, as the P/C insurer grew net written premiums 11% to a record $8.4 billion. “Geopolitical risk is at a …

Boy Scouts Abuse Settlement Attacked for Preventing Future Lawsuits

The Boy Scouts of America’s sexual abuse compensation fund should be rejected, a small group of victims say, because the proposal has the same legal flaw that ended a similar plan by bankrupt opioid maker Purdue Pharma LP. The Boy …

Boy Scouts Victims’ Fund Unfair to Insurers, Companies Argue in Court

The Boy Scouts of America’s sexual abuse compensation fund may force insurers to make payments they can’t negotiate over, even if the claims are fraudulent, a group of the companies argued in court. Insurers, including American International Group, Liberty Mutual …

The $1M Bad Faith Case and the Missed Deadline

Darryl A. Vachon did not accuse Travelers of bad faith in handling his $25,000 uninsured motorist claim until after a jury found he had incurred $1,022,780 in damages. Because he didn’t, the insurer must now defend itself against a million-dollar …

J.D. Power Agents’ Survey Reveals Top-Ranked P/C Carriers (Story in Charts)

Neglected no more. Independent agents are feeling the love from property/casualty insurance carriers—and the scores they are giving carriers are moving higher, J.D. Power reports. According to results of the J.D. Power 2021 U.S. Independent Agent Performance and Satisfaction Study, …

Marsh Brokers New Amazon Insurance Network Offering Coverage to Online Sellers

Insurance broker Marsh said it has collaborated with Amazon to build a new digital insurance network, Amazon Insurance Accelerator, where small businesses selling on Amazon can purchase product liability coverage. Amazon now requires third-party sellers to obtain product liability coverage …