You head to your car in the morning, as you do every day. But today, you’re horrified to discover it isn’t where you parked it the night before. It’s a heart-sinking moment Americans across the country wake up to as cases of car thefts soar.
Between March and May insurance and related jobs rose by 15,000, inching closer to 3 million employed in the industry, and about 150,000 above the pre-pandemic count in January 2020, according to the Bureau of Labor Statistics.
The recently released J.D. Power 2023 U.S. Auto Insurance Study has found that nearly one-third of auto insurance customers in the United States have experienced rate hikes over the past year. The insurance industry has raised rates by an average of 15.5%, leading to substantial dissatisfaction among policyholders.
The National Highway Traffic Safety Administration (NHTSA) should reconsider its dramatic underestimate of the number of lives that could be saved by requiring side underride guards for large trucks, the Insurance Institute for Highway Safety said in a recent regulatory comment.
As they weather this year’s storm season, many businesses will experience property damage, often accompanied by business income losses. Most commercial general liability policies will provide business interruption coverage and extra expense insurance as an adjunct to property coverage.
Despite the industry’s stodgy reputation, insurance is often ahead of the curve, embracing new technologies that improve efficiency, enhance customer experience and increase profitability.
Insurers in Texas can no longer account for environmental, social or governance criteria when setting rates for almost all forms of insurance under a bill passed by the Legislature last month.
A jury in the northwestern U.S. state of Oregon on Monday found the electric utility PacifiCorp responsible for causing devastating fires during Labor Day weekend in 2020, ordering the company to pay tens of millions of dollars to 17 homeowners who sued and finding it liable for broader damages that could push the total award into the billions.
Firefighters and other first responders have been stretched thin while battling an unprecedented wildfire season in Canada, and such may be the case for claims adjuster capacity as well.
A California jury has returned a $63 million verdict against Chevron after finding the oil giant covered up a toxic chemical pit on land purchased by a man who built a house on it and was later diagnosed with a blood cancer.
The idea has been floated for years, and it may seem straightforward enough: if gun owners were required to purchase liability insurance, proponents argue, they would have to follow safe practices to limit their financial and legal risk, thus reducing incidents of gun violence.
The Florida Office of Insurance Regulation held a hearing in Tallahassee on whether to approve Citizens Property Insurance’s recommended rate increase.<br /><br />If approved, this means that those under the policy would see a statewide average rate increase of about 14%.
With the rapid advancement of artificial intelligence (AI), concerns about job displacement have become prevalent. However, it is essential to understand that AI, including language models like ChatGPT, has the potential to enhance and transform job roles rather than replace them.
Lawyers for the family of Alex Murdaugh’s late housekeeper Gloria Satterfield -- who died after a fall at the family’s home in 2018 -- have responded to Murdaugh’s motion to vacate his confession of stealing over $4 million in insurance money meant for Satterfield’s family.
