INSURANCE NEWS
JD Power: Drivers Keep Shopping Even as Auto Insurance Price Increases Slow
Even as auto insurance rates level out, drivers are still looking for a better deal. The rate of U.S. auto insurance premium price increases slowed to less than 2% at the end of 2024, down from 13% at the beginning …
This Texas E&S Carrier is Implementing Natural Language Processing
At AM Specialty Insurance Co., Nishad Lad, head of data and software development, has been placed at the forefront of transforming the Dallas, Texas-based excess and surplus carrier’s claims processing with new technologies. His team has implemented an array of …
Ohio Residents Divided Over Norfolk Southern Settlement Agreement
Norfolk Southern began making promises to East Palestine, Ohio, soon after its train derailed and caught fire in February 2023. The railroad said it would “make it right” after five tank cars of vinyl chloride were intentionally burned, sending up …
Student Competition to Showcase Young Talent at RIMS
Attendees of the RIMS’ Riskworld annual conference in Chicago will have an opportunity to meet a cohort of aspiring risk management professionals, who are participating in a global university competition. Teams from eight colleges around the world will compete in …
Uber Teams Up With May Mobility to Launch Robotaxis in US Cities
Uber Technologies said on Thursday it will partner with self-driving technology startup May Mobility to deploy thousands of self-driving vehicles on its ride-hailing platform across U.S. cities, starting with Arlington, Texas, by late 2025. This adds to Uber’s growing list …
Zurich Offers ‘Roadmap’ to Prep Businesses, Governments for Climate Change
A new paper from Zurich calls out an “alarmingly bleak” outlook thanks to climate change driving the frequency and intensity of extreme weather and increasing the likelihood of natural catastrophes. However, the paper takes an optimistic stance that there are …
Hawaii Plans to Increase Hotel Tax to Help It With Climate Change Mitigation
In a first-of-its kind move, Hawaii lawmakers are ready to hike a tax imposed on travelers staying in hotels, vacation rentals and other short-term accommodations and earmark the new money for programs to cope with a warming planet. State leaders …
Britain’s M&S Enters 2nd Week of Sales Disruption After Cyberattack
Britain’s Marks & Spencer entered a second week unable to take online clothing and home orders on Friday following a major cyberattack, hitting sales of new season ranges as the country basks in record temperatures. Some 700 million pounds ($930 …
Florida Lawmakers Vote to Repeal ‘Free Kill’ Law Affecting Med Mal Suits
Adult children and parents of young adults who died under medical care will soon be able to recover punitive and pain-and-suffering damages in medical malpractice lawsuits if Florida Gov. Ron DeSantis signs a bill into law. The Florida Senate approved …
APCIA, IBHS Testify Before Senate Committee on Loss Mitigation
During a Senate committee hearing focusing on insurance and loss mitigation efforts, industry representatives said the all levels of government play a role. “Where government regulation and infrastructure allow private, competitive, insurance, and global reinsurance markets to flourish, consumers are …
Ryan Specialty Finalizes Acquisition of USQRisk
Global specialty insurance broker Ryan Specialty has completed the acquisition of USQRisk Holdings, LLC. Operating in New York and London, USQ underwrites non-traditional insurance risks. USQ’s operations will become a part of the alternative risk business within Ryan Specialty. The …
Liberty Mutual Teams With WNBA Champion New York Liberty
Liberty Mutual Insurance has announced a multiyear partnership with the New York Liberty women’s basketball team. As part of the partnership, the Liberty Mutual logo will be prominently displayed on all Liberty jerseys beginning with the 2025 season. Additionally, Liberty …