INSURANCE NEWS
Allstate October Catastrophe Losses of $286M Include Milton, Helene
Allstate today said it estimated pretax catastrophe losses of $286 million for the month of October. Losses during October included $102 million, pretax, from Hurricane Milton as well as $144 million in unfavorable reserve reestimates from Hurricane Helene primarily from …
Musk, Ramaswamy Will Lean on Supreme Court Rulings to Cut US Agencies
Elon Musk and Vivek Ramaswamy said the government efficiency panel that President-elect Donald Trump has named them to lead will follow recent U.S. Supreme Court rulings that they say can be used to take power away from federal agencies and …
Tampa Bay Rays Say New St. Pete Stadium Unlikely to Be Ready for 2028 Season
ST. PETERSBURG, Fla. (AP) — A combination of severe hurricane damage to Tropicana Field and political delays on financing means it is highly unlikely the Tampa Bay Rays’ planned new stadium will be ready for the 2028 season, if at …
Biden Requests Funds to Rebuild Collapsed Baltimore Bridge
President Joe Biden’s pending request for nearly $100 billion in emergency disaster aid includes money to rebuild Baltimore’s Francis Scott Key Bridge, which collapsed under the impact of a massive container ship that lost power and veered off course in …
Blacks and Hispanics Pay More for Auto Insurance. Study Tries to Answer Why.
A new study examining potential unintentional bias in auto insurance finds that while Black and Hispanic drivers pay more than other drivers for auto insurance, they also have more claims and driving infractions. The study’s authors accept that higher losses …
Arthur J. Gallagher & Co. Acquires Chilean Broker THB Chile
Arthur J. Gallagher & Co. announced the acquisition of Santiago, Chile-based THB Chile. Terms of the transaction were not disclosed. THB Chile is a retail insurance broker providing property/casualty, life and health benefits, and reinsurance services to clients throughout Chile. …
Australia’s Top Female Executives Make US$103,000 Less Than Men
Australia’s top female business chiefs are earning A$158,632 ($103,340) less per year than their male counterparts, according to the Workplace Gender Equality Agency, with the overall pay disparity between men and women nationally sitting at 21.8%. Including executive salaries in …
Why Asbestos Is Still Being Found in Some Cosmetics
Asbestos, a notorious carcinogen, was in widespread use throughout the 20th century – from building materials to brake pads and even fake snow on film sets including The Wizard of Oz and White Christmas. In the 1960s, a link was …
Bank of Japan Governor Warns AI Could Bring New Financial Stability Risks
Bank of Japan Governor Kazuo Ueda said on Thursday central banks must be mindful that technological advances, such as in the area of artificial intelligence (AI), could bring new risks to financial stability. “As financial services grow more diverse and …
Zurich Insurance Group Sets New Targets After Meeting Existing Ones a Year Early
Zurich Insurance Group AG set new targets for profitability and profit growth for the next three years, after a better-than-expected market environment put it on track to exceed its existing guidance a year ahead of plan. The insurer pledged to …
General Mills to Engage Regulators on Food Dyes Targeted by RFK Jr.
General Mills Inc. is planning to engage federal officials over potential restrictions on food dyes that it uses in some of its cereals, as Robert F. Kennedy Jr., the nominee to run the Department of Health and Human Services, calls …
Allianz Offers 5 Loss Trends to Watch on the Liability Front
As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical to watch include pharma class actions, the …