Auto insurers have had difficulties coming out of the pandemic – when streets were relatively unpopulated. The topic was the top national story published by Insurance Journal in 2022. If a word cloud was to be done on all national …
As we reach the end of another eventful year, Insurance Journal takes a look back at some of the top International stories, which were, of course, dominated by the Russia-Ukraine war. Three of the top 10 articles for the year …
A business owner’s insurance policy did not provide coverage for software damaged by a ransomware attack because there was no direct physical damage or loss, the Ohio Supreme Court ruled. “Computer software cannot experience ‘direct physical loss or physical damage’ …
With last year’s 25% rate hikes for public directors and officers liability insurance dropping to 2.5%, and 150% hikes for cyber cover sinking to 25%, significant softening is forecast for some casualty lines in 2023. Those reduced price hikes are …
U.S. oil major Exxon Mobil Corp. is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this …
Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships traveling in Russian waters from Jan. 1. …
This year will be the warmest year on record for the UK, according to the Met Office. The annual average temperature across Britain exceeded the previous high set in 2014, when the average was 9.88C, provisional data from the national …
Berkshire Hathaway’s $11.6 billion acquisition of Alleghany Corp. was the largest insurance transaction in 2022 but insurance M&A activity dropped this year, according to an S&P Global Market Intelligence analysis. As of the end of November, there were 685 deals …
Insured damage to residential, commercial, and industrial properties and automobiles will be about $5.4 billion from Winter Storm Elliot, according to modeler Karen Clark & Co (KCC). The storm affected 42 states from Dec. 21 to Dec. 24 with below-freezing …
SACRAMENTO, Calif. (AP) – Dense fog plagued California’s Central Valley early Wednesday as one winter storm left the state and another lined up to enter. The new storm was expected to move through Northern California late Wednesday and overnight, followed …