Illinois Chiropractor Sentenced to 20 Months in Prison for Insurance Fraud
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Travelers Subsidiary Ordered to Pay $44M in Missouri Wrongful Conviction Case
By John Hanna A man won $11 million in a lawsuit against police after his conviction for killing a Missouri newspaper’s sports editor was overturned, but the city’s former insurer resisted paying most of it for almost three years. A …
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Washington Board to Eye Insurer AI Use
Washington Insurance Commissioner Patty Kuderer convened her first Artificial Intelligence Advisory Board meeting in Seattle to look at the insurance industry’s use of AI and to get recommendations on policy development, oversight and consumer education. The board reviewed its charter …
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WCIRB: 2024 Losses, Expenses in California Workers’ Comp 108% of Earned Premium
Total losses and expenses in California’s workers’ compensation system incurred in 2024 were $16.7 billion, or 108% percent of earned premium, a report shows. The Workers’ Compensation Insurance Rating Bureau of California released the 2024 California Workers’ Compensation Losses and …
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Texas, Oklahoma Among States Lure Corporations Away From Delaware
By Mingson Lau Lawmakers in Texas, Oklahoma and Nevada have recently approved changes aimed at helping their states dip into the lucrative side of corporate litigation that Delaware, with a specialized court and business-friendly laws, has dominated as the world’s …
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Two More Insurers Enter Florida Market as Storm Season Warms
Two more property insurers put their toes in the Florida market this summer, bringing to 14 the number of new carriers in the state since 2023. It’s another sign that legislative discouragement of claims litigation has made a difference and …
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Behind the Surge: What Cyber Claims Say About the Future of Risk
The U.S. cyber insurance market witnessed a surge in reported claims, reaching a record 33,561 incidents, according to the 2024 NAIC Cyber Insurance Report. This escalation underscores the growing complexity and frequency of cyber threats for businesses across all sectors. …
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Reinsurance Renewal Prices Moderate as Capacity Exceeds Cedent Demand: Brokers
By L.S. Howard Strong returns in the reinsurance sector are attracting capital and leading to favorable pricing outcomes for buyers–but underwriting discipline continues, according to renewal reports from three reinsurance brokers. Despite heavy natural catastrophe losses in the first quarter, …
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Texas Flood
As of press time, Texas and the world are watching yet another unprecedented natural catastrophe unfold. More than 100 lives have been lost [edited to included updated number] in this one event and billions of dollars in property have been …
Marsh Suit Against Alliant Alleges Poaching of Commercial Surety Team, Accounts
By Andrew G. Simpson Insurance broker Marsh USA is suing rival Alliant Insurance Services, this time for allegedly poaching key commercial surety employees and clients. New York-based Marsh is accusing California-based Alliant of inducing key commercial surety employees to breach …
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