INSURANCE NEWS
CEO Revenue Confidence Hits 5-Year Low: PwC Survey
Only three in 10 chief executives are confident in their companies’ revenue growth prospects over the next year, the lowest level in five years, according to a global survey by professional services group PwC released on Monday. The annual survey …
PE Firm TowerBrook Takes Stake in Insurance Claims Company MSA Mizar
Investment firm TowerBrook is acquiring a majority stake in MSA Mizar, an insurance claims management services provider, marking its first deal in Italy since it opened an office in Milan last year. MSA Mizar’s existing investor Columna Capital and the …
Viewpoint: Inside the Machinery of Medical Abuse in Liability Claims
Within the realms of general liability (GL) and workers’ compensation (WC) insurance lines, medical abuse is often considered in narrow terms — excessive treatment, unnecessary surgeries, inflated bills. While such behaviors are indeed problematic, a wider spectrum of medical abuse …
The battle between Applied Systems and Comulate has taken a new turn with a new federal antitrust lawsuit from Comulate. Late last year the competitors in the insurance technology market traded litigation. Applied Systems sued Comulate on allegations that Comulate …
Allianz Executive Pushes EU to Pressure US With Market Volatility
European policymakers should fuel market turbulence to pressure US President Donald Trump to back down from his Greenland claim, according to a senior executive at Allianz Global Investors. “If I were an adviser to some European governments, I would say …
Bermuda Re/Insurers to See U/W Profit Drop; M&A Returns as Organic Growth Wanes
Bermuda-based re/insurers monitored by Fitch are expected to see a drop in underwriting profit in 2025, reporting an average combined ratio of 92% in 2025, up from 90.7% in 2024, the ratings agency said. For the first nine months of …
Alabama DOI Report Shows Litigation is Up, Raising Liability Costs and Rates
A new report from the Alabama Department of Insurance suggests that claims litigation and big verdicts are on the rise in the state, inflating loss costs for insurers and putting upward pressure on auto and commercial liability premiums. “…The average …
Oregon Baby Still Battling Botulism After ByHeart Formula Exposure
A Portland, Oregon, boy is struggling to recover from infant botulism after drinking contaminated ByHeart baby formula donated through a program that aims to help poor and homeless families. Ashaan Carter, now 10 months old, was hospitalized twice and remains …
NHTSA Opens Probe Into About 600,000 GM Vehicles Over Engine Failure Issue
The U.S. National Highway Traffic Safety Administration said on Monday it opened a recall query into about 597,571 vehicles from General Motors over engine failure. The recall affects GM vehicles equipped with a L87 6.2L V8 gas engine that experienced …
Oklahoma Reaches Settlement With Poultry Company Over Litter Pollution
Oklahoma Attorney General Gentner Drummond announced the State of Oklahoma has reached a settlement agreement with George’s, Inc., resolving claims related to poultry litter pollution in the Illinois River Watershed. “This settlement demonstrates that fair, good-faith negotiations can produce outcomes …
Ohio Engineering Firm Penalized for 401(k) Plan Breach
A federal court has ordered a Cincinnati, Ohio civil engineering firm and its owner to pay $45,699.63 to employee accounts in the company’s 401(k) plan after the U.S. Department of Labor found the company violated federal employee benefits law. The …
Michigan Bulletin Provides Guidance for AI Use in Financial Services
The Michigan Department of Insurance and Financial Services issued a bulletin to provide guidance to financial service providers on the use of artificial intelligence. The bulletin says that financial service providers including insurers are expected to develop, implement, and maintain …