Insurance

Analysts’ projections of slower growth and smaller underwriting margins ahead for personal auto insurers started to play out ever so slightly in third-quarter results of two giant auto insurers this week. Both Progressive and GEICO reported higher personal auto combined …

Florida insurers will no doubt remember the time more than two years ago when one of the largest plaintiffs’ law firms in the state gave notice that it was planning to file tens of thousands of claims lawsuits ahead of …

Fire destroyed Miami Heat coach Erik Spoelstra’s home last week, with officials saying more than 20 units were dispatched in what became a frantic, futile effort to save the property. Nobody was in the home when the fire broke out, …

Investors in Jamaica’s catastrophe bond now face a 100% payout after Hurricane Melissa set off a full trigger event, according to the World Bank. Jamaica’s $150 million cat bond, which was arranged by the World Bank, is designed to provide …

Marsh McLennan Agency (MMA), headquartered in White Plains, New York, appointed Adam Balentine as President of National Business Insurance. Based in Kansas City, Missouri, Balentine leads the development of strategic growth initiatives for MMA’s property and casualty business, oversees the …

The Fidelis Partnership (TFP), the Bermuda-based managing general underwriter, announced the launch of a consortium that targets risks associated with the construction of AI data centers. With estimates suggesting that the AI data center market could rapidly represent billions in …

An explosion at a hydrogen and nitrogen product manufacturer in Mississippi on Wednesday caused an ammonia leak and forced nearby residents to evacuate, officials said. Mississippi Gov. Tate Reeves said in a post on the social platform X that emergency …

AM Best has placed under review with positive implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of Louisiana Farm Bureau Mutual Insurance Company (Louisiana Farm Bureau), an action that follows the …

A former South Carolina state lawmaker and injury lawyer has been indicted on federal allegations that he schemed to defraud his legal clients. According to court papers, a federal grand jury on Wednesday indicted former Rep. Marvin Pendarvis, a Democrat …

More than six years after a Boeing 737 Max jetliner crashed in Ethiopia, the first civil trial related to the disaster that killed all 157 people on board was set to proceed. Boeing has settled most of the dozens of …