Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry’s understanding of these risks, according to a report published by RMS. “Secondary …
Rate hikes for commercial lines of insurance are slowing to single-digit increases or even flat renewals, according to broker WTW’s Marketplace Realities spring update. The exception, as it has been, is cyber insurance. Buyers here keep seeing even higher increases. …
The owner of a Hummer vehicle found buried in rural Alabama will have some explaining to do when he returns home, the local sheriff said after crews used a backhoe to unearth the vehicle this week. “We had our suspicions …
A deepening opioid epidemic is prompting the U.S. Department of Justice to warn about discrimination against those who are prescribed medication to treat their addictions. In guidelines published Tuesday, the department’s Civil Rights Division said employers, health care providers, law …
Relation Insurance Services announced it acquired the assets of Louisiana-based BRK Insurance Group. Terms of the transaction were not disclosed. BRK provides employee benefits and commercial lines insurance solutions to clients throughout Louisiana and is headquartered in New Orleans, LA. …
AIG, one of the world’s biggest commercial insurers, is considering cutting cover for Russia and Ukraine, to shield itself from the risk of hefty claims as sanctions ratchet up and the war drags on, an insurance broker and a source …
The United Nations on Thursday announced the members of an expert group that will scrutinize corporate pledges to achieve net-zero emissions, an effort to prevent greenwashing as private sector climate plans proliferate. U.N. Secretary-General António Guterres said the group of …
Zurich Insurance Group announced it is bringing forward by 20 years its target to achieve net-zero emissions in its operations. It now aims to reach the goal by 2030, after implementing plans announced on March 31 last year to achieve …
Ukraine, a major producer of grain, oilseeds and steel products, will guarantee insurance payments to cargo vessels damaged in hostilities on its stretch of the Danube, according to the government decision published on Friday. Ukraine exports almost all its commodities …
People who owned units in a Florida oceanfront condominium building that collapsed last year will divide $83 million for property losses, with the compensation for families over the 98 deaths still to be determined, a judge ruled Wednesday. The money …