Tens of thousands of homeowners and businesses have lost their property insurance coverage in the last year, following four major hurricanes, eight company failures and a dozen pullouts from the state’s increasingly dicey market. The shakeup has triggered a mass migration away from small private insurers.
U.S. traffic deaths jumped about 7% in the first three months of 2022 to 9,560, the largest first-quarter number since 2002, regulators said on Wednesday in a preliminary estimate.
The newer the car, the safer it is for women drivers, the National Highway Traffic Safety Administration said in a new report Tuesday. While the NHTSA’s earlier report, published in 2013, found women to be at a much higher risk of fatality in car crashes compared to men, the 2022 report said that newer car technology, in line with strengthened regulations, has decreased the disparity.
On August 12, 2022, the U.S. District Court for the District of Minnesota dismissed a policyholder’s complaint seeking a declaration that $600,000 in social engineering fraud loss fell within a crime policy’s computer fraud coverage.
On May 25, Rhode Island became the 19th U.S. state to legalize recreational marijuana. Earlier this year, Mississippi passed legislation to allow for medical marijuana use, bringing the total number of states that have authorized Âmedical cannabis to 37. The continued push to legalize marijuana is no surprise.
After more than a year of bad news around battery fires, this summer Chevy slashed the price of the electric Bolt and Bolt EUV by as much as $6,000, making the Bolt the most affordable electric car on sale in America. In an effort to appease customers who bought their Bolts before the discount, Chevy offered a cash rebate to existing Bolt owners.
GM is recalling its redesigned full-size SUV models to address improperly riveted mounts securing the third-row seatbelts that may fail in the event of an accident.
Across the country, the Great Resignation has seen professionals leaving their jobs and moving on for several reasons, including the COVID-19 pandemic, unsatisfactory or uninspiring working conditions, limited opportunities for growth and more
At the NWCDN Annual Conference in Nashville last week, a presenter shared a personal story about how their emotions once got the best of them when handling a particular claim.
Verdict amounts across the country are on the rise, due in part to the phenomenon of social inflation and the success of reptile theory-style arguments. An insurer’s potential extra-contractual liability for these verdicts and related damages continues to substantially increase a carrier’s exposure in litigation.
Owners of some of the most-stolen vehicle makes in Denver are facing more problems after at least one major insurance company says the risk is too high to insure them.
As part of its attempts to push the frontiers of technology, Meta recently unveiled a chatbot powered by artificial intelligence that draws on the vast stores of knowledge on the internet. The results, well... they haven’t always been quite what Meta hoped.
How do businesses/defendants and carriers combat the effects of social inflation? It is definitely not a simple challenge, but here are three key considerations.
Aloha Petroleum, a subsidiary of oil and gas giant Sunoco, has sued an AIG unit, accusing the insurer of breaching insurance contracts by refusing to defend it in a pair of lawsuits filed by the Hawaiian government alleging that the gas chain contributed to climate change.
Floods are the nation’s most common and costly natural disaster, producing millions of dollars of destruction every year, and this year will be no exception. In just the last two weeks, there has been major flash flood events in St. Louis, Eastern Kentucky, parts of Virginia and West Virginia, and Death Valley.
