Insurance Journal
FEBRUARY 13, 2025
Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of thousands of homes last month.
Property Insurance Coverage Law
FEBRUARY 20, 2025
A new bill filed in the Florida Senate by Don Gaetz is making waves by proposing that insurance companies disclose the financial relationships of their executives and related entities. The legislation would require a report detailing the compensation of executives, including salaries, stock options, bonuses, stock buybacks, and other taxable payments.
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Prof. Allan Manning
FEBRUARY 10, 2025
I recall the very first business interruption claim I did was for a risk in Toowoomba and to my horror found that the Insured had only declared 3 months insurable gross profit with a 3-month Indemnity Period. That sum insured had not been reviewed for many years and as a result of 100% average, as it was on that policy, the client received only 6.9% of their loss.
Insurance Journal
FEBRUARY 11, 2025
California Insurance Commissioner Ricardo Lara approved a California FAIR Plan request for a $1 billion assessment on admitted market insurers to cover claims from the Los Angeles wildfires.
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Insurance Journal
FEBRUARY 23, 2025
As consumer complaints have apparently mounted over unpaid hurricane losses, Florida’s top insurance regulator and some lawmakers are signaling new scrutiny on insurance carriers’ claims-handling and other practices.
Insurance Industry Brief brings together the best content for insurance professionals from the widest variety of industry thought leaders.
Insurance Journal
FEBRUARY 12, 2025
The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders.
Insurance Journal
FEBRUARY 27, 2025
A Florida appeals court has re-affirmed a major state Supreme Court decision, helping to answer lingering questions about whether the 2022 bad-faith litigation reform law can be applied retroactively.
Insurance Journal
FEBRUARY 17, 2025
Uber Technologies Inc. is pouring millions of dollars into a national ad campaign to push for reforms in insurance policies that it says have been exploited by personal injury lawyers and contribute to higher ride prices.
Insurance Journal
FEBRUARY 3, 2025
TXSE Group Inc., parent company of the proposed Texas Stock Exchange, closed its initial fundraising round at $161 million and said the TXSE has filed for registration as a bourse with the US Securities and Exchange Commission.
Insurance Journal
FEBRUARY 23, 2025
The business environment is constantly evolving, with each new development and innovation offering a unique variety of potential risks and rewards.
Insurance Journal
FEBRUARY 6, 2025
Before a wildfire ravaged their street in northwest Altadena, Louise Hamlin and Chris Wilson lived next door to each other in nearly identical houses.
Insurance Journal
FEBRUARY 14, 2025
California Insurance Commissioner Ricardo Lara did not approve an emergency, interim 22% rate request from State Farm, instead calling a meeting with the carrier to get some answers about the carrier’s financial situation and more.
Insurance Journal
FEBRUARY 21, 2025
The U.S. property/casualty industry took another underwriting loss in 2024, but results improved thanks to rate increases and changes in risk selection. A report from industry rating agency AM Best this week said U.S.
Insurance Journal
FEBRUARY 26, 2025
A Maryland woman pleaded guilty to defrauding USAA Insurance out of more than $58,000 in water damage claims by using faked invoices and photos.
Insurance Journal
FEBRUARY 5, 2025
The excess and surplus lines market continued to grow in 2024, with premium reaching more than $81 billion, according to annual reports from 15 state stamping offices released by the Wholesale & Specialty Insurance Association (WSIA).
Insurance Journal
FEBRUARY 10, 2025
A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak.
Insurance Journal
FEBRUARY 26, 2025
The U.S. will invest up to $1 billion to combat the spread of bird flu, as well as increase imports of eggs in an effort to drive down high prices, agriculture secretary Brooke Rollins said on Wednesday.
Insurance Journal
FEBRUARY 20, 2025
Over the past decade, there’s been a dramatic increase in reconstruction costs, according to Trish Hopkinson, head of 360Value at Verisk. The 10-year analysis examined residential and commercial reconstruction costs between October 2014 and October 2024.
Insurance Journal
FEBRUARY 18, 2025
Is a binder binding, even if the property owner never received the insurance policy? Yes, it is, the Alabama Supreme Court decided last week in a case that marks another win for insurers relying on binding arbitration agreements.
Insurance Journal
FEBRUARY 14, 2025
California Insurance Commissioner Ricardo Lara and a group of state lawmakers are pushing a 10-bill legislative package designed to improve disaster preparedness and help protect wildfire survivors. The bills intended focus are on consumer protection, climate resiliency and market strength.
Insurance Journal
FEBRUARY 28, 2025
California’s $21 billion wildfire fund may shield Edison International’s balance sheet if equipment owned by the company’s electric utility is found to have caused a deadly Los Angeles fire last month, Edison’s CEO said on Thursday.
Insurance Journal
FEBRUARY 13, 2025
American International Group CEO Peter Zaffino used the insurer’s fourth quarter earnings call to again talk about reinsurance attachments points, throwing in the possibility 2025 could be the year for $200 billion in insured catastrophe losses.
Insurance Journal
FEBRUARY 3, 2025
The City of London, once considered the crown jewel of Britain’s dominant services sector, has performed even worse than the rest of the economy in the years following the Brexit referendum. Financial and insurance output has grown just 2.
Insurance Journal
FEBRUARY 28, 2025
Arkansas Attorney General Tim Griffin sued General Motors and its subsidiary OnStar this week, alleging the car manufacturer deceived Arkansans by collecting and selling driver information to third parties, who then sold the data to insurance companies.
Insurance Journal
FEBRUARY 6, 2025
Georgia’s governor has asked state lawmakers for $175 million to cover the growing costs of liability claims against state agencies and employees, as the state’s liability insurance fund has dwindled to a fraction of the outstanding costs.
Insurance Journal
FEBRUARY 5, 2025
Allstate Corp. fourth quarter net income applicable to common shareholders increased 30% to about $1.9 billion, and the insurer finished 2024 with net income of $4.6 billion compared to a loss of $316 million the prior year.
Insurance Journal
FEBRUARY 26, 2025
The US Supreme Court signaled it will revive a job-bias lawsuit by a straight woman and make it easier in some parts of the country for members of so-called “majority groups” to get to a jury with discrimination claims.
Insurance Journal
FEBRUARY 19, 2025
U.S. personal injury law firm Morgan & Morgan sent an urgent email this month to its more than 1,000 lawyers: Artificial intelligence can invent fake case law, and using made-up information in a court filing could get you fired.
Insurance Journal
FEBRUARY 23, 2025
Back around 2013 (the copy I have is not dated, so I might be off a year), McKinsey & Company published a study that caused some angst within the industry.
Insurance Journal
FEBRUARY 3, 2025
State Farm General said on Monday it is asking the California Department of Insurance to immediately approve interim rate increases, including 22% average for homeowners.
Insurance Journal
FEBRUARY 5, 2025
USAA has paid out more than $1 billion for the Los Angeles wildfires, making it the third insurer to report $1 billion or more in payouts for the destructive blazes that burned thousands of properties.
Insurance Journal
FEBRUARY 20, 2025
When the garbage truck stopped, the worker stepped down from the metal step on the back of the truck to run and retrieve a trash can.
Insurance Journal
FEBRUARY 18, 2025
(AP) Leaders in Johnson City, Tennessee, have agreed Thursday to pay $28 million to settle a lawsuit that said police deliberately botched investigations into a suspect accused in civil cases of drugging and sexually assaulting dozens of women.
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