Recent trends in claims litigation and social inflation are increasing insurance premiums, particularly in states like Florida and Louisiana, as legal system abuse continues to challenge the industry.
Southern California Edison agrees to an $80 million settlement for the 2017 Thomas Fire, marking a significant recovery for U.S. Forest Service costs and damages.
A sophisticated insurance fraud scheme in Everett involving over $1 million in false claims leads to multiple indictments, with two suspects still at large.
Warren Buffett’s latest annual report for Berkshire Hathaway may have tempered expectations for the conglomerate’s future "eye-popping performance," but the insurance sector, led by GEICO’s remarkable turnaround, provided a glimmer of profitability and growth amidst the caution.
The healthcare industry faces a significant cybersecurity challenge as UnitedHealth Group’s subsidiary, Change Healthcare, falls victim to a cyberattack suspected to be orchestrated by government-backed hackers.
The record-breaking climate and weather disasters of 2023 underscore the urgent need for the insurance industry to adopt a Predict & Prevent approach to mitigate financial impacts and protect policyholders.