LA Wildfires Cause $1.9M Average Insured Loss Per Structure, Over 17,000 Properties Impacted
The Palisades and Eaton wildfires in Los Angeles have damaged or destroyed 17,027 structures, with estimated insured losses reaching $32.5 billion, making this one of the costliest wildfire events in U.S. history.
January 20
Catastrophe
Excess & Surplus Lines
Property
Risk Management
California
Pennsylvania Introduces Regulatory Changes for Surplus Line Licensees and Policyholder Incentives
Pennsylvania’s latest insurance regulations allow surplus line licensees to charge service fees and offer enhanced nonmonetary gifts to policyholders, improving transparency and market dynamics.
July 22, 2024
Excess & Surplus Lines
Insurance Industry
Legislation & Regulation
Risk Management
Pennsylvania
Unlocking Potential in the E&S Insurance Market
The excess and surplus insurance market is dynamically growing, providing major opportunities for insurtechs.
June 18, 2024
Excess & Surplus Lines
Insurance Industry
Technology
Underwriting
New York
Jeff Canfield Discusses AI’s Role in Ascot’s Underwriting Strategy
At RISKWORLD 2024, Jeff Canfield of Ascot explores the potential of AI in underwriting, Ascot’s data-driven deal selection, and their approach to underwriting specialty risks.
May 30, 2024
Excess & Surplus Lines
Insurance Industry
Technology
Underwriting
Catastrophe Bond Issuance Hits Record Highs in 2024
Catastrophe bond and insurance-linked securities issuance surpasses $10.9 billion in H1 2024, setting new records with more deals expected.
May 23, 2024
Catastrophe
Excess & Surplus Lines
Insurance Industry
Risk Management
Florida Senate Moves to Allow Surplus Lines Insurers to Cover Second Homes
A key Florida Senate bill aims to shift secondary home insurance from Citizens to surplus lines carriers, stirring mixed reactions among industry professionals.
February 6, 2024
Excess & Surplus Lines
Legislation & Regulation
Property
Florida
As Trial Opens, FTX’s Bankman-Fried Battles Excess Insurer Over D&O Coverage
Just two days before his criminal trial started this week in federal court in New York, FTX Trading founder Sam Bankman-Fried filed suit in federal court in California against his excess insurance company seeking payment of legal costs.
October 4, 2023
Excess & Surplus Lines
Litigation
Cost of a Data Breach 2023: Geographical Breakdowns
Data breaches can occur anywhere in the world, but they are historically more common in specific countries. Typically, countries with high internet usage and digital services are more prone to data breaches.
September 28, 2023
Excess & Surplus Lines
Lawsuits Target MGM and Caesars Casinos Over Cyberattacks
Five class action lawsuits filed against MGM Resorts International and Caesars Entertainment seek to punish the casino giants for failing to protect customers in September’s cyberattacks.
September 26, 2023
Excess & Surplus Lines
Litigation
Nevada
Telematics: A Sword and a Shield
The transportation industry plays a crucial role in global commerce, and it has to constantly adapt to technological advancements, economic fluctuations, shifting consumer demands, and the legal landscape.
September 14, 2023
Excess & Surplus Lines
Liability
Litigation
Paramount Received $71M Insurance Payout for ’Mission: Impossible’ COVID Delays
Paramount Pictures has disclosed that it received approximately $71 million from Swiss insurer Chubb as compensation for the COVID-19 pandemic-induced delays in the production of "Mission: Impossible -- Dead Reckoning Part One."
September 13, 2023
Excess & Surplus Lines
Billions at Stake: Aircraft Lessors and Insurers Gearing Up for June 2024 Trial
Some of the world’s largest aircraft lessors and insurers are aiming to be ready to go to trial in June 2024 over contested insurance claims for aircraft stuck in Russia, a lawyer for one of the lessors said on Monday.
August 1, 2023
Excess & Surplus Lines
Litigation
Bigger in Texas
CLM’s upcoming Construction Conference on Wednesday, Sept. 27 will feature a brand-new location as we deliver the high-impact sessions you have come to expect on the biggest topics facing construction claims professionals.
July 28, 2023
Education & Training
Excess & Surplus Lines
Liability
Litigation
Crane Fire and Collapse Lead to Evacuations in Manhattan’s West Side
A crane, located atop a high-rise building in Manhattan, experienced a partial collapse and caught fire over 40 stories above the ground Wednesday morning. Emergency crews were alerted to the situation when they received a call about a fire in the crane’s engine compartment at around 7:30 a.m.
July 26, 2023
Excess & Surplus Lines
Liability
New York
Cyber Insurance Complexities: University of California’s Legal Battle with Lloyd’s
In a legal battle that sheds light on crucial aspects of cyber insurance, the University of California has initiated a lawsuit against insurance companies operating in the Lloyd’s of London market.
July 5, 2023
Excess & Surplus Lines
Litigation
