Insurance Law

Climate-Related Extreme Weather Events Pose $5 Trillion Global Economic Risk, Says Lloyd's of London Study

Climate-Related Extreme Weather Events Pose $5 Trillion Global Economic Risk, Says Lloyd’s of London Study

Lloyd’s of London and the Cambridge Centre for Risk Studies collaborated on a study projecting potential global economic losses of up to $5 trillion […]

Reinsurance Rates Up By Average 33 Percent

Reinsurance Pricing To Rise For Cedents and Policy Holders

Reinsurers rendezvoused in Monte Carlo in September, and to no one’s surprise, decided to impose rate hikes on year-end reinsurance renewals, according to an […]

Steps To Counter Workers’ Comp Insurance Inflation

Steps To Counter Workers’ Comp Insurance Inflation

Inflation is impacting the worker’s comp insurance market, according to a recent article by Gulf Shore Insurance. Issues include labor shifts, higher wages, and […]

New Twist For Vesttoo Fake Collateral Scandal

New Twist For Vesttoo Fake Collateral Scandal

White Rock Insurance Ltd. has partnered with the Bermuda Monetary Authority to pursue recovery for those hit by the alleged fraud involving Vesttoo-related accounts […]

Will Governments Step In When Cyber-Insurance Isn’t Available?

Will Governments Step In When Cyber-Insurance Isn’t Available?

Premiums for cyber insurance rose almost 50 percent in 2022, but they aren’t keeping up with the cost of attacks. The price of the […]

Uniform Trade Practices Act and Insurers

Uniform Trade Practices Act and Insurers

A bill working its way through the Michigan Legislature creates a bad faith cause of action against insurers for not paying insurance claims in […]

Big Premium Hike For Captives

Big Premium Hike For Captives

Captive insurers rated by AM Best have recorded their largest premium increase in ten years, according to Best’s market segment report, titled “Feasibility and […]

$91 Million Judgment Against AIG Unit

$91 Million Judgment Against AIG Unit

A unit of AIG must pay two companies, Griffith Foods International Inc. and Sterigenics U.S. LLC,  more than $91 million. That sum will go […]

Job Losses As Liberty Mutual Restructures

Job Losses As Liberty Mutual Restructures

Effective Aug. 1, Liberty Mutual is creating a new business unit. US Retail Markets will focus on personal and small commercial insurance lines in […]

Reinsurance Rates Up By Average 33 Percent

Reinsurance Rates Up By Average 33 Percent

According to Howden Tiger, risk-adjusted property-catastrophe pricing is up, ranging from 25 to 40 percent as of June 1, with an average increase of […]