Anthony R. O’Donnell // May 8, 2025 (Image source: SBLI website.) SBLI (Woburn, Mass.) has implemented Swiss Re’s CARE (Claims Automated Rules Engine) to streamline its life insurance claims process and enhance decision-making speed, accuracy, and transparency. Timothy Quick, head of global product development for Life & Health Claims Solutions,...
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Published on: 2025-05-08
Source:
Insurance Journal
Article 0 Comments U.S. Transportation Secretary Sean Duffy called for the construction of six new air traffic control centers and the replacement of more than 600 radars in a broad proposal to overhaul the country’s aging system that manages some 45,000 flights each day. More than a dozen airport towers...
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Published on: 2025-05-08
Source:
News – Claims Journal
Anthony R. O’Donnell // May 8, 2025 (On stage at SAS Innovate, left to right: Bryan Harris, Roshan Shah and Bill Clifford.) At the SAS Innovate 2025 conference in Orlando, analytics provider SAS (Cary, N.C.) unveiled a suite of technology enhancements and strategic initiatives designed to help enterprises navigate disruption...
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Published on: 2025-05-08
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Insurance Journal
Article 0 Comments A federal judge narrowed but stopped short of dismissing a lawsuit by investors seeking to hold celebrities like sports stars Tom Brady, Stephen Curry and Shohei Ohtani liable for promoting the collapsed cryptocurrency exchange FTX. The investors said the defendants ignored “red flags” and hid millions of...
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Published on: 2025-05-08
Source:
News – Claims Journal
Anthony R. O’Donnell // May 8, 2025 (Image source: Farmers and Mechanics homeowners page.) Farmers and Mechanics Mutual Insurance Company of West Virginia (Martinsburg, W.Va.) has partnered with ZestyAI(San Francisco) to adopt AI-powered property risk analytics for improved underwriting and risk-based pricing across its portfolio. The insurer will use ZestyAI’s Z-PROPERTY™ Location Insights to...
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Published on: 2025-05-08
Source:
Insurance Journal
Article 0 Comments Kansas Insurance Commissioner Vicki Schmidt released data last month on the amount paid by insurance companies for Kansas storm damage claims in 2024. In 2024, reported storm claims totaled 56,778 and the amount paid out on those claims by insurance companies was $612,069,643.50. Johnson County saw the...
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Published on: 2025-05-08
Source:
News – Claims Journal
Article 0 Comments Oregon worker’s compensation claims fell in 2023 from the previous two years, a report from the Oregon Department of Consumer and Business Services shows. The department received notification of 22,994 accepted disabling claims for occupational injuries and diseases in 2023, a rate of 1.1 claims per 100...
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Published on: 2025-05-08
Source:
News – Claims Journal
Article 0 Comments A South Florida jury has awarded $3 million to a man who was severely injured by a defective airbag in a 2020 crash. Miami-Dade jurors reached a verdict for Jose Hernandez on Thursday, according to court records. He had filed a lawsuit in 2022 against Takata Airbag...
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Published on: 2025-05-08
Source:
News – Claims Journal
Anthony R. O’Donnell // May 7, 2025 (Image credit: KevinSchmid/Pixabay.) Shelter Insurance (Columbia, Mo.) has gone live with Shift Technology’s AI-based claims fraud detection platform, Shift Claims Fraud, to strengthen its ability to identify and investigate fraudulent activity across its auto and property lines. Mark Jones, Director of Litigation and...
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Published on: 2025-05-07
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Insurance Journal
Article 0 Comments Rattled flyers are deciding that trips through Newark just aren’t worth it. For days, red cancellation signs have flashed across the airport’s boards and flights have been delayed, leaving travelers stranded. And then there was the revelation about an unsettling lapse: a 90-second breakdown in radio contact...
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Published on: 2025-05-07
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News – Claims Journal
Anthony R. O’Donnell // May 7, 2025 (Electronic billboard at SAS Innovate in Orlando, Fla. Photo by author.) SAS (Cary, N.C.) has announced several new enhancements to its SAS Viya platform, including synthetic data generation tools, intelligent AI agents, and expanded managed cloud offerings. The updates, unveiled at SAS Innovate in...
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Published on: 2025-05-07
Source:
Insurance Journal
Anthony R. O’Donnell // May 7, 2025 (3D logo at SAS Innovate in Orlando, Fla. Photo by author.) SAS (Cary, N.C.) has introduced the AI Governance Map, a new online assessment and strategic tool designed to help organizations evaluate their current AI governance maturity and plan for improvement. The resource was announced at...
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Published on: 2025-05-07
Source:
Insurance Journal
Article 0 Comments The growth of AI will increase the number and sophistication of cyberattacks on Britain, senior minister Pat McFadden said on Wednesday. British companies, public bodies and institutions have been hit by a wave of cyberattacks in the past few years, costing them tens of millions of pounds...
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Published on: 2025-05-07
Source:
News – Claims Journal
Anthony R. O’Donnell // May 7, 2025 (Facing page of MAPFRE AI Manifesto document. Source: MAPFRE.) MAPFRE (Madrid) has launched a Manifesto for a Humanistic, Ethical, and Responsible AI, becoming the first IBEX 35 company to publicly define its principles for the development and use of artificial intelligence. The announcement coincides...
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Published on: 2025-05-07
Source:
Insurance Journal
Article 0 Comments Air traffic controllers guiding planes bound for Newark Liberty International Airport lost radar and radio communication for more than a minute early last week before flights at the key hub were snarled for days, according to people familiar with the matter. The outage of those key systems...
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Published on: 2025-05-06
Source:
News – Claims Journal
Anthony R. O’Donnell // May 5, 2025 (Image source: Klear.ai.) The Alaska Public Risk Alliance (Anchorage) has selected Klear.ai (Los Angeles) to support its initiative to modernize and unify claims operations across its consolidated public risk pools, formerly the Alaska Municipal League Joint Insurance Association (AMLJIA) and Alaska Public Entity Insurance (APEI). Pete...
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Published on: 2025-05-05
Source:
Insurance Journal
Article 0 Comments Nearly four months after wildfires reduced thousands of Los Angeles-area homes to rubble and ash, some residents are starting to rebuild. In the Pacific Palisades neighborhood, construction workers recently began placing wooden beams to frame a house on a lot where only a charred fireplace remains standing....
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Published on: 2025-05-05
Source:
News – Claims Journal
Article 0 Comments The U.K. supermarket chain Co-op said hackers were able to access and extract customer data from one of its systems during a recent cyberattack. “The accessed data included information relating to a significant number of our current and past members,” the company said in a statement Friday....
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Published on: 2025-05-05
Source:
News – Claims Journal
Article 0 Comments Last year, New York City settled 13,397 claims against it for a total cost of $1.94 billion, the most ever for one fiscal year, up from $1.5 billion in fiscal year 2023, the city’s financial monitor has reported. Police ($309.56 million), corrections ($252.87 million), education ($128.07 million),...
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Published on: 2025-05-05
Source:
News – Claims Journal
Article 0 Comments Through my 35 years in the claims industry, and experience ranging from casualty adjusting to property and construction to third-party administration, I’ve seen a significant amount of knowledge and expertise come and go. For decades, as workers have aged out of our industry, they’ve been replaced by...
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Published on: 2025-05-05
Source:
News – Claims Journal
Article 0 Comments The British government will next week warn all U.K. companies to treat cyber security as an “absolute priority” in the wake of attacks on retailers Marks & Spencer, the Co-op Group and Harrods. Cabinet office minister Pat McFadden on Friday led a briefing with national security officials...
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Published on: 2025-05-02
Source:
News – Claims Journal
“It’s the cyber battle field out there,” added Cooksley. “Especially with AI – that can really turbo charge attackers’ ability to create maliciousness. AI helps them craft emails at scale, making them more convincing because they’re learning what works and what doesn't. From there, they can use machine learning to...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Article 0 Comments Spain suffered several power glitches and industry officials sounded repeated warnings about the instability of its power grid in the build up to its catastrophic blackout on Monday. The government has ordered several investigations into the blackout. Industry experts say that whatever the cause, the mass outage...
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Published on: 2025-05-02
Source:
News – Claims Journal
For insurers, this breakdown provides more than just a snapshot of market composition; it’s a call to sharpen strategic focus. With liability lines anchoring the market, competition on pricing, underwriting discipline, and claims efficiency will remain fierce. At the same time, emerging risks – such as advanced driver-assistance systems, autonomous...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Net income attributable to AIG common shareholders declined to $698 million, or $1.16 per diluted share, from $1.2 billion, or $1.74 per diluted share, in the same period last year. Adjusted after-tax income (AATI) was $702 million, or $1.17 per diluted share, compared to $862 million, or $1.25, in the...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
The figures mark a significant increase for the private flood insurance sector, which has grown in recent years amid concerns over the sustainability of the federal National Flood Insurance Program (NFIP), the company highlighted. In a statement, CEO Trevor Burgess said the milestone demonstrates a growing demand for private flood...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Article 0 Comments Britain’s Marks & Spencer entered a second week unable to take online clothing and home orders on Friday following a major cyberattack, hitting sales of new season ranges as the country basks in record temperatures. Some 700 million pounds ($930 million) has been wiped off the stock...
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Published on: 2025-05-02
Source:
News – Claims Journal
Anthony R. O’Donnell // May 2, 2025 (Image source: Mitchell insurance page.) Mitchell (San Diego), a provider of auto physical damage technology solutions, has launched a cloud-native integration for Guidewire ClaimCenter designed to streamline claims processing for auto insurers in the United States and Canada. Will Murphy, VP, Marketplace Technology Alliances, Guidewire. The...
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Published on: 2025-05-02
Source:
Insurance Journal
The case stems from a fire that damaged Catskill Barbeque’s property in the Town of Fallsburg, Sullivan County. After the blaze, the business filed a claim with Mid-Hudson, its insurance carrier, seeking indemnification for its losses. Mid-Hudson responded with a payment of $175,000, arguing that this amount represented the maximum...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Earlier in the legislative session, lawmakers considered creating a formal risk pool for commercial fishermen, modeled after municipal programs. Insurance Commissioner Lori Wing-Heier said such a pool could be established but noted concerns about funding and eligibility. She said the industry’s current financial condition could limit its ability to sustain...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Law argues that the rule conflicts with the Texas Labor Code, particularly Section 408.161, which states that “lifetime income benefits are paid until the death of the employee.” He also cites Section 408.201, which exempts benefits from “garnishment, attachment, judgment, and other actions or claims.” According to Law, the monthly...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Maine lawmakers are moving forward with a bill that could bring notable changes to how self-insurers manage workers' compensation obligations in the state. Legislative Document 1195 (LD 1195), introduced on March 20, 2025, proposes to update several provisions of the Maine Workers' Compensation Act of 1992. The bill is now...
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Published on: 2025-05-02
Source:
Insurance Business Magazine
Anthony R. O’Donnell // May 2, 2025 (Image source: Capgemini.) The Capgemini Research Institute has published its 2025 World Property and Casualty Insurance Report, offering a stark assessment of how the aging of the global population will reshape the property/casualty insurance industry by mid-century. The report finds that demographic trends—particularly the...
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Published on: 2025-05-02
Source:
Insurance Journal
Article 0 Comments Conservative activist Robby Starbuck has filed a defamation lawsuit against Meta alleging that the social media giant’s artificial intelligence chatbot spread false statements about him, including that he participated in the riot at the U.S. Capitol on Jan. 6, 2021. Starbuck, known for targeting corporate DEI programs,...
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Published on: 2025-05-02
Source:
News – Claims Journal
Article 0 Comments The U.S. Department of Justice sued top health insurance companies and brokers alleging they used illegal kickbacks to steer members into certain private Medicare Advantage plans. The complaint names units of CVS Health Corp., Elevance Health Inc. and Humana Inc., along with broker companies eHealth, Inc., GoHealth,...
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Published on: 2025-05-02
Source:
News – Claims Journal
Article 0 Comments London department store Harrods said on Thursday hackers had attempted to break into its systems, the third high-profile cyber-attack on a U.K. retailer in two weeks, following incidents at Marks & Spencer and the Co-op Group. British companies, public bodies and institutions have been hit by a...
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Published on: 2025-05-02
Source:
News – Claims Journal
Article 0 Comments Norfolk Southern began making promises to East Palestine, Ohio, soon after its train derailed and caught fire in February 2023. The railroad said it would “make it right” after five tank cars of vinyl chloride were intentionally burned, sending up a huge black plume of smoke that...
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Published on: 2025-05-02
Source:
News – Claims Journal
However, geopolitical risks, including trade policy uncertainty in the US, ongoing war in Ukraine, and right-wing electoral surges in countries like Germany and France, are posing significant hurdles for investors. As economic and political volatility casts shadows over these regions, M&A players are re-evaluating the risks in cross-border mergers and...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Anthony R. O’Donnell // May 1, 2025 (Image source: CCC.) CCC Intelligent Solutions (Chicago) plans to integrate technology from recently acquired EvolutionIQ (New York) into its third-party auto casualty portfolio, expanding its use of AI-powered tools for injury claim management. John Goodson, Chief Product and Technology Officer, CCC. CCC expects...
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Published on: 2025-05-01
Source:
Insurance Journal
Anthony R. O’Donnell // May 1, 2025 (Image source: Ting/Whisker Labs.) Bamboo Insurance (Midvale, Utah) has launched a new program to provide Whisker Labs (Germantown, Maryland) Ting fire prevention technology and services at no cost to eligible policyholders. John Chu, Founder and CEO, Bamboo. The program will distribute Ting sensors and monitoring services...
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Published on: 2025-05-01
Source:
Insurance Journal
“Severe convective storms require more nuanced aggregation management than, say, a single hurricane,” she explained. “If you're writing across the Midwest, Southeast, and Plains, you want to not only avoid too much exposure in a single city, but also in cities that are too close together.” ...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Following the catastrophic wildfires in January 2025 – now considered the most expensive wildfire event in US history – insurers have been navigating a perfect storm of high exposure, regulatory restrictions, and rising reinsurance costs. More than 16,000 structures were destroyed across some of Southern California’s most affluent communities, according...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Allstate’s other segments in Q1 Meanwhile, Allstate’s property-liability segment reported earned premiums of $14 billion in Q1 2025, an 8.7% increase year over year. Premiums written rose 8.5% over the same period. The combined ratio for the segment was 97.4, which was 4.4 points higher than the first quarter of...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Article 0 Comments Allstate Corp. first quarter 2025 net income applicable to common shareholders fell more than 52% to $566 million primarily due to a record $3.3 billion of gross catastrophe losses. The gross loss was partially offset by $1.1 billion of reinsurance recoveries in the quarter for a net...
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Published on: 2025-05-01
Source:
News – Claims Journal
In the core commercial segment, operating income before taxes was $26.8 million, down from $71.5 million a year earlier. The segment’s combined ratio increased to 103.4% from 93.9% in Q1 2024. Catastrophe losses totaled $46 million, or 8.5 points of the combined ratio, up from $20.7 million, or 3.9 points,...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Premiums, fees, and other revenues increased 14% to $13.6 billion, reflecting higher underwriting margins, growth in volume, and stronger variable investment income. These gains were partly offset by unfavorable foreign currency movements and lower recurring interest margins. ...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Article 0 Comments The probe into the deadly Southern California Eaton fire is likely to take a year or more as authorities examine Edison International’s utility equipment as the possible cause, according to the company’s chief executive officer. Edison, meanwhile, is conducting its own investigation and has reviewed some “circumstantial...
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Published on: 2025-05-01
Source:
News – Claims Journal
“Organizations need a comprehensive understanding of their supply chains—beyond just their direct suppliers—especially with the changes to global trade policies,” explained Martin South, president and CEO of Marsh McLennan. “With Sentrisk and the Tariff Simulator, clients can assess their exposure to tariffs, anticipate cost increases from suppliers, and develop strategies...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Hiscox London Market reported ICWP of $329.7 million, a 4.0% increase from $316.9 million last year. Growth came from property, marine, energy, and specialty classes. Rates across the segment declined by 3% for the first time since 2017 but remained 69% higher than 2018 levels. The property division benefited from...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Pre-tax catastrophe and weather-related losses, net of reinsurance, totaled $49 million, or 3.7 points on the combined ratio. Of that, $32 million, or 2.4 points, was attributed to the California wildfires. The remaining losses were related to other weather-related events. After-tax, catastrophe and weather-related losses totaled $38 million. ...
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Published on: 2025-05-01
Source:
Insurance Business Magazine
Article 0 Comments Spain’s grid operator denied on Wednesday dependence on solar power was to blame for the country’s worst blackout, while Prime Minister Pedro Sanchez came under increasing pressure to explain what went wrong. With life returning to normal after a power outage that halted trains, shut airports and...
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Published on: 2025-05-01
Source:
News – Claims Journal
Article 0 Comments Los Angeles County officials this week approved a $4 billion payout to settle nearly 7,000 claims of sexual abuse in juvenile facilities since 1959. The agreement reached on April 4 far surpasses a $2.6 billion settlement reached in 2022 with the Boy Scouts of America that was...
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Published on: 2025-05-01
Source:
News – Claims Journal
// April 30, 2025 (Image source: WNLIC homepage.) Hexure (Colorado Springs, Colo.) has implemented its FireLight platform to support the launch of new annuity products from Wichita National Life Insurance Company (WNLIC; Lawton, Okla.). Wichita National Life’s Multi-Year Guaranteed Annuities—Security 3 and Security 5—are now available on FireLight, offering guaranteed interest rates of 6...
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Published on: 2025-04-30
Source:
Insurance Journal
Last year, TWFG Insurance, a Texas-based insurance broker, made a strong market debut. Priced at $17 per share, the IPO exceeded expectations, closing at $22.10 on its first trading day – a surge of over 30%. The company raised approximately $170 million, which is earmarked for debt repayment, potential acquisitions,...
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Published on: 2025-04-30
Source:
Insurance Business Magazine
Insurance coverage for oil companies Several major insurers, including AIG and Chubb, continue to provide coverage for oil and gas operations. Chubb, for instance, has expressed intentions to underwrite more oil and gas production, aligning with anticipated increases in fossil fuel activities under the current US administration. ...
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Published on: 2025-04-30
Source:
Insurance Business Magazine
In 2024, Higginbotham completed several notable acquisitions, including Eagan Insurance Agency in Metairie, La.; Fountain, Parker, Harbarger & Associates in Huntsville, Ala.; Thompson & Smith Insurance in Jackson, Tenn.; Glenn Harris & Associates in Oklahoma City; and Barnard Insurance Agency. ...
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Published on: 2025-04-30
Source:
Insurance Business Magazine
Article 0 Comments British supermarket chain Co-op said it was the target of a hacking attempt, just days after Marks & Spencer Group Plc said it suffered a cyber incident that rendered some of the retailer’s systems inaccessible. Co-op recently experienced attempts to gain unauthorized access to some systems, forcing...
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Published on: 2025-04-30
Source:
News – Claims Journal
After-tax operating income available to common shareholders was $587 million, or $1.54 per share, representing an 11.5% annualized operating return on average common equity. This compares to $933 million, or $2.45 per share, reported in the first quarter of 2024. ...
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Published on: 2025-04-30
Source:
Insurance Business Magazine
Senate Bill 1643 would mandate regulatory approval for any proposed rate adjustment, whether an increase or decrease, exceeding 10%. If the commissioner does not act within 30 days, the rate would take effect automatically, unless it involves an increase of 10% or more. ...
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Published on: 2025-04-30
Source:
Insurance Business Magazine
Article 0 Comments The use of migraine medications in workers’ compensation prescriptions, despite the overall cost per claim decreasing, a new report shows. The first part of Enlyte’s 2025 Drug Trends Report released this week shows and migraine medications and topicals are gaining ground as alternatives to pain management, while...
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Published on: 2025-04-30
Source:
News – Claims Journal
Anthony R. O’Donnell // April 29, 2025 (Image source: Xceedance homepage.) Xceedance (Boston) had announced a strategic partnership with FurtherAI (San Francisco), a company developing artificial intelligence Assistants purpose-built for commercial insurance. The collaboration aims to help insurers implement AI-driven automation across underwriting, compliance, and claims processes. Aman Gour, Co-Founder and CEO, FurtherAI....
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Published on: 2025-04-29
Source:
Insurance Journal
Article 0 Comments Insured losses from natural catastrophes could soar to $145 billion this year — well above the 10-year average — as population growth, urban sprawl and climate change combine to supercharge risks, according to a report by Swiss Re Institute. Severe thunderstorms, floods and wildfires are the main...
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Published on: 2025-04-29
Source:
News – Claims Journal
Anthony R. O’Donnell // April 29, 2025 (Image source: AdvanceGo homepage.) Sapiens International Corporation (Holon, Israel/Rochelle Park, New Jersey) announced it had signed a definitive agreement to acquire AdvantageGo (London), a commercial insurance software provider specializing in underwriting workbench solutions for the London and global commercial markets. Martin Higgins, Senior Principal, Datos Insights....
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Published on: 2025-04-29
Source:
Insurance Journal
Article 0 Comments A ransomware attack is the cause of a disruption at Marks & Spencer Group Plc., with hackers using a potent kind of malware to lock down some of the British retailer’s systems and render them inaccessible, according to people familiar with the attack. The company has for...
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Published on: 2025-04-29
Source:
News – Claims Journal
Article 0 Comments Spain’s grid operator offered the most detailed account yet of the events that led to a blackout that spilled over to Portugal, describing a series of disruptions over just a few seconds that plunged the country into darkness for hours. The information still leaves major questions about...
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Published on: 2025-04-29
Source:
News – Claims Journal
Article 0 Comments This article is part of an on-going series about technological and AI-related developments and advancements in claims processes and claims departments.View Series At AM Specialty Insurance Co., Nishad Lad, head of data and software development, has been placed at the forefront of transforming the Dallas, Texas-based excess...
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Published on: 2025-04-29
Source:
News – Claims Journal
Article 0 Comments A multi-day severe weather outbreak is expected to bring heavy thunderstorms, large hail and the threat of tornadoes across the central U.S. Parts of the Upper Midwest – particularly southern and western Minnesota and northern Iowa – is at highest risk for severe weather, the National Weather...
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Published on: 2025-04-28
Source:
News – Claims Journal
Article 0 Comments Most of Spain and all of Portugal were hit by a major blackout that impacted public transport, airports and phone service, leaving authorities scrambling to find the causes for one of the worst outages in Europe in years. Data from Spain’s grid operator Red Electrica showed power...
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Published on: 2025-04-28
Source:
News – Claims Journal
Article 0 Comments It’s not often that applause breaks out in the audience after a vote at the Hawaiʻi Legislature, but that one afternoon last week. The measure was House Bill 1001, and the subject was settling claims related to the August 2023 Maui wildfires. “This is a very important...
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Published on: 2025-04-28
Source:
News – Claims Journal
Article 0 Comments Marks & Spencer stopped taking online orders in the U.K. and Ireland on Friday following a cyber attack which it reported earlier in the week, an announcement which sent its shares down by 5%. The British company, which sells its clothing and homeware ranges through its website...
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Published on: 2025-04-25
Source:
News – Claims Journal
“There’s a disconnect in California with some well-meaning consumer groups who don’t understand that insurance companies can’t continuously lose money and stay in business,” Jones said. “Instead of forcing carriers to subsidize wildfire losses through litigation, we should be focusing on prevention and mitigation—on hardening homes, building defensible zones, and...
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Published on: 2025-04-25
Source:
Insurance Business Magazine
Business insurance also recorded a combined ratio of 94.4 and an underlying combined ratio of 88.4, matching results from the prior-year period. In the personal insurance segment, the combined ratio was 106.1, while the underlying combined ratio improved by 6.4 points year-over-year to 89.7. ...
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Published on: 2025-04-25
Source:
Insurance Business Magazine
A new court, a new ruling Undeterred, SafeLease moved the case to the newly formed Texas Business Court, which was established to hear complex commercial cases. There, it found a more sympathetic forum. On January 21, 2025, the court issued a temporary injunction ordering Storable to restore SafeLease’s access -...
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Published on: 2025-04-25
Source:
Insurance Business Magazine
Article 0 Comments Insurers in the U.S. paid out $1.6 billion as the number of dog-related injury claims rose significantly in 2024. That’s according to data compiled by the Insurance Information Institute and State Farm. The number of dog bite and related injury claims last year totaled 22,658, an increase...
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Published on: 2025-04-25
Source:
News – Claims Journal
Article 0 Comments The company that owned the railcar that caused the devastating East Palestine train derailment in 2023 won’t have to help pay for the $600 million settlement Norfolk Southern agreed to with residents. An Ohio jury decided Wednesday that GATX isn’t liable for the settlement even though the...
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Published on: 2025-04-25
Source:
News – Claims Journal
The IBERIA region posted a net result of €121 million, up 65.6% year-on-year, with a combined ratio of 95.6%. The company cited performance in the auto segment as a major factor in this regional outcome. In North America, MAPFRE reported a profit of €30 million, up 94.3%, continuing the region’s...
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Published on: 2025-04-25
Source:
Insurance Business Magazine
State Farm, caught in the middle of conflicting demands, opted to file a federal interpleader action - a move that allows insurers to deposit funds with the court and step aside while potential beneficiaries litigate who is entitled to the money. Robbins, in turn, sued State Farm in state court,...
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Published on: 2025-04-25
Source:
Insurance Business Magazine
Article 0 Comments J.S. Held announced that founder and long-time CEO Jonathon Held will step down as CEO. The move makes way for Lee Spirer, current president and chief operataing officer, to assume the role of president and CEO at the start of the second quarter. Held will transition to...
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Published on: 2025-04-25
Source:
News – Claims Journal
Sabrina Wilson // April 24, 2025 (Image credit: geralt/Pixabay.) At its Spring National Meeting in Indianapolis (March 23-26), the National Association of Insurance Commissioners (NAIC) announced a major overhaul of its Risk-Based Capital (RBC) model—a foundational shift in how insurers will be evaluated for capital adequacy. The move marks the...
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Published on: 2025-04-24
Source:
Insurance Journal
What’s going on in the property market? What was once a fiercely hard market marked by tight capacity, high rates, and restrictive terms has, over the last year and a half, softened in dramatic fashion. That change didn’t come overnight, according to Michelle Yuko (pictured on the right), EVP at...
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Published on: 2025-04-24
Source:
Insurance Business Magazine
The ruling, issued April 17 by the Intermediate Court of Appeals of the State of Hawai‘i, centers on a claim brought by Lola L. Suzuki, a former employee of American Healthways, Inc., who reported injuring her right wrist in November 2006. The company and its insurance carrier, St. Paul Travelers,...
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Published on: 2025-04-24
Source:
Insurance Business Magazine
Writing for the court, Judge Ronald Lee Gilman found that even if Wehr wasn’t sued directly, the allegations in the St. Claire case centered on its conduct, and any resulting liability could still flow back to it. That was enough, the court held, to trigger Phoenix’s duty to defend. Kentucky...
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Published on: 2025-04-24
Source:
Insurance Business Magazine
Article 0 Comments Firefighters in New Jersey made progress against a blaze that threatened to become the state’s largest in 18 years, while officials charged a man with arson in connection with the incident. The wildfire in Ocean County, about 90 miles south of New York City, spread across 21...
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Published on: 2025-04-24
Source:
News – Claims Journal
According to the report, by 2050, the global dependency ratio, or the number of seniors per 100 working-age adults, is expected to increase from 16% in 2024 to 26%. This demographic shift will influence consumer behavior, particularly in terms of spending patterns. ...
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Published on: 2025-04-24
Source:
Insurance Business Magazine
Article 0 Comments Allianz Commercial named Melissa Hill regional head of claims for North America at Allianz Commercial. Hill replace Frank Sapio, who is retiring. Hill has more than 25 years of experience in claims operations. Most recently, she was strategic claims transformation lead at Sompo. Her prior roles include...
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Published on: 2025-04-24
Source:
News – Claims Journal
Article 0 Comments A Long-range forecast predicts wildfires will burn more land across the U.S. this year, with a potentially active spring in places and a build up into summer. An AccuWeather forecast out on Wednesday calls for 7 to 9 million acres to burn across the nation this year,...
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Published on: 2025-04-23
Source:
News – Claims Journal
In comparison, Chubb achieved record net income of $9.27 billion for FY2024, or $22.70 per share, and core operating income of $9.20 billion, or $22.51 per share. Consolidated net premiums written were $51.5 billion, up 8.7%, with global P&C up 9.6% and life insurance up 15.7%. The P&C combined ratio...
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Published on: 2025-04-23
Source:
Insurance Business Magazine
Following the hurricane, Hamilton paid $81,521.13 to Shellpoint, which accepted the sum without objection. Ahmed, contending the payment was insufficient, sued the insurer directly, alleging breach of contract and seeking recovery as a third-party beneficiary. The breach of contract claim was dismissed early and not appealed. The remaining claim was...
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Published on: 2025-04-23
Source:
Insurance Business Magazine
FCCI Insurance Group operates through more than 3,800 independent agents across 20 states and Washington, D.C. Its product line includes coverage for auto, crime, cyber liability, equipment, excess & surplus, property, general liability, inland marine, umbrella, and workers' compensation, among others. Additionally, FCCI writes contract and commercial surety bonds in...
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Published on: 2025-04-23
Source:
Insurance Business Magazine
On appeal, Universal also challenged the homeowners’ procedural handling of the waiver issue, arguing they failed to properly plead it. The Fourth District agreed, holding that waiver must be explicitly raised in response to an insurer’s affirmative defenses. The Yagers, it found, did not do so until five months after...
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Published on: 2025-04-23
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Insurance Business Magazine
Article 0 Comments Fifteen years after the Deepwater Horizon oil rig exploded off the Gulf Coast, killing 11 and sending 134 million gallons (500 million liters) of crude gushing into the ocean, the effects of the nation’s worst offshore oil spill are still being felt. Oil company BP paid billions...
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Published on: 2025-04-23
Source:
News – Claims Journal
Under the proposed legislation, the annual DFS notice may include the department’s disaster hotline, key contact details, and a link to the department’s online disaster and flood resource center. Additionally, it must feature a clear statement highlighting that standard homeowners and renters insurance policies do not typically cover flood-related damages,...
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Published on: 2025-04-22
Source:
Insurance Business Magazine
The company offers products in general liability, commercial property, and garage segments, utilizing its proprietary Western World Integrated Platform (WWIP) to facilitate underwriting, rating, quoting, binding, and policy issuance for wholesale brokers and their clients. ...
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Published on: 2025-04-22
Source:
Insurance Business Magazine
Using their supply chain data, businesses can model tariff exposure based on where goods come from, how much is spent, and where products are sold. Mitigation strategies, such as “rewiring” your supply chain or redesigning products to reduce exposure from specific components, can then be explored. ...
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Published on: 2025-04-22
Source:
Insurance Business Magazine
Article 0 Comments Elon Musk’s electric vehicle company Tesla has agreed to settle a wrongful death lawsuit filed by the estate of a man who was killed in 2021 after his Tesla crashed and caught fire near Dayton, Ohio. Tesla and lawyers for the estate disclosed the settlement in a...
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Published on: 2025-04-22
Source:
News – Claims Journal
Meanwhile, Rick Donatini, a veteran in the employee benefits field, has been named vice president, employee benefits, bringing decades of experience to the role. Together, the three new hires bring nearly 70 years of combined experience to Liberty, strengthening the company’s ability to provide comprehensive benefit solutions to clients. ...
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Published on: 2025-04-22
Source:
Insurance Business Magazine
Founded in 1879, Starkweather & Shepley is one of the largest independent insurance agencies in Rhode Island. With 14 offices in Rhode Island, Massachusetts, Connecticut and Florida, the company offers business insurance, personal insurance, employee benefits and risk management services. ...
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Published on: 2025-04-22
Source:
Insurance Business Magazine
A newly signed bill in New Mexico has introduced sweeping restrictions on the disclosure of sensitive personal information by state agency employees, in a move that is likely to have compliance implications for insurers, contractors, and government service providers. The “Nondisclosure of Sensitive Personal Information Act,” passed under Senate Bill...
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Published on: 2025-04-22
Source:
Insurance Business Magazine
Article 0 Comments Dozens of former student pilots who say they racked up tens of thousands of dollars in debt for tuition are suing United Airlines and its flight school in the Arizona desert, saying it didn’t have enough teachers or aircraft to properly train and graduate its students. The...
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Published on: 2025-04-22
Source:
News – Claims Journal
Article 0 Comments Global natural catastrophes had an insured price tag of more than $53 billion during the first quarter of 2025, with claims driven by the wildfires in Los Angeles adding roughly $38 billion to taht, or 71% of total insured losses across the globe, according to Aon’s Q1...
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Published on: 2025-04-22
Source:
News – Claims Journal