News Center
Business Insurance - _Risk Management
Abortion ruling complicates med mal insurance environment
Medical professionals and their insurers face an evolving medical liability landscape following the U.S. Supreme Court abortion decision last year, but captives may be able to help organizations handle the risks, an attorney, a risk manager and an underwriter said.
POSTED FEBRUARY 07, 2023 6:55 AM |
Risk management technology survey deadline approaching
The deadline to complete Business Insurance’s annual risk management technology survey is Feb. 13.
POSTED FEBRUARY 07, 2023 6:51 AM |
D&O liability rate decrease accelerates: Aon
The downturn in directors and officers liability rates continues to accelerate, with Aon PLC’s clients reporting a 17.8% adjusted decrease in average price per million for their D&O liability policies in 2022’s fourth quarter, compared with the same period in 2021, the broker said Monday.
POSTED FEBRUARY 06, 2023 5:58 PM |
Dispute arises over fallen tree from ‘Shawshank Redemption’
Timber! Tree damage and removal after a storm often leads to insurance questions, but in this case a fallen oak tree in Mansfield, Ohio, made popular by its role in the movie “Shawshank Redemption” is at the center of a dispute between a property owner and a sawmill.
POSTED FEBRUARY 06, 2023 2:37 PM |
Liberty Mutual adds former CNA exec
Liberty Mutual Insurance Co. said Monday it has named Paul Larson, formerly with CNA Financial Corp., as president, financial lines, of its global risk solutions North America division.
POSTED FEBRUARY 06, 2023 1:33 PM |
News Archives - Insurance Journal
Nearly 60 L’Oreal Hair Relaxer Lawsuits Consolidated in Illinois Federal Court
Nearly 60 lawsuits claiming hair relaxer products sold by L’Oreal USA Inc and other companies cause cancer and other health problems will be consolidated in Chicago federal court, according to a Monday order from the Judicial Panel on Multidistrict Litigation. …
POSTED FEBRUARY 07, 2023 1:53 PM |
Former NFL Player Faces DUI Charge After Florida Crash
A former NFL player was arrested on a misdemeanor driving under the influence charge after troopers say his vehicle rear-ended a pick-up truck that was on the side of a South Florida highway because of a flat tire, injuring the …
POSTED FEBRUARY 07, 2023 1:33 PM |
Downing of Chinese Balloon Creates Spectacle, Concern Over SC Tourism Hub
The downing of a suspected Chinese spy balloon just off South Carolina’s coast created a spectacle over one of the state’s tourism hubs and drew crowds reacting with a mixture of bewildered gazing, distress and cheers. The balloon was struck …
POSTED FEBRUARY 07, 2023 1:23 PM |
No Damage or Injuries Reported From Small Earthquake in Buffalo Suburb
A small earthquake rumbled through western New York early Monday, alarming people in a region unaccustomed to such shaking but apparently causing no significant damage. The U.S. Geological Survey preliminarily reported a 3.8 earthquake centered east of Buffalo in the …
POSTED FEBRUARY 07, 2023 1:18 PM |
NOAA Says Tennessee Drought Management Plan Lacks Specifics
Drought affects everything from water quality and public health to ecosystems and infrastructure. But when does a drought become severe enough to warrant water restrictions? Tennessee state agencies do not have that answer, according to a new report funded by …
POSTED FEBRUARY 07, 2023 1:10 PM |
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Florida Auto Legislation, on Heels of 2022 Reforms, Suggests State is Serious About Insurance Crisis Fix
Florida legislation proposed last week would prevent the state’s motorists from assigning their legal rights in auto insurance claims to repair shops. Assignment of benefits (AOB) is a standard practice in the insurance world. In Florida, however, this efficient, customer-friendly way to settle claims has long served as a magnet for fraud. The state’s … Continue reading Florida Auto Legislation, on Heels of 2022 Reforms, Suggests State is Serious About Insurance Crisis Fix →
POSTED JANUARY 31, 2023 2:37 PM |
Nurturing Tomorrow’s Risk & Insurance Leaders
By Loretta L. Worters, Vice President, Media Relations, Triple-I Forget the stereotype of the boring door-to-door life insurance salesperson – aka Ned Ryerson from the movie Groundhog Day. Insurance is not just about sales – it is a purpose-driven industry with countless opportunities to make a positive impact on individuals, businesses, and communities. The insurance … Continue reading Nurturing Tomorrow’s Risk & Insurance Leaders →
POSTED JANUARY 30, 2023 6:57 PM |
Online Promotionof Car-Theft Techniques Adds to Upward Pressure on Insurance Premiums
Three anti-crime organizations have asked YouTube to take down all videos that teach people how to steal Kia and Hyundai automobiles. The organizations – the National Insurance Crime Bureau (NICB), the Coalition Against Insurance Fraud, and the International Association of Special Investigation Units (IASIU) – made their request in response to a spike in thefts … Continue reading Online Promotionof Car-Theft Techniques Adds to Upward Pressure on Insurance Premiums →
POSTED JANUARY 24, 2023 8:29 PM |
Despite Warnings,Weak Password Policies Still Invite Cybercrime
By Max Dorfman, Research Writer, Triple-I It’s Cyber Security 101: Multi-factor authentication and hard-to-crack passwords are table stakes for preventing incursions. Nevertheless, “Password,” “12345”, and “Qwerty123” are among the most commonly found passwords leaked on the dark web by hackers, according to mobile security firm Lookout. And, despite the amount of attention the issue receives, the situation … Continue reading Despite Warnings,Weak Password Policies Still Invite Cybercrime →
POSTED JANUARY 19, 2023 7:54 PM |
Monetary Policy Drives Economic Prospects; Geopolitics Limits Inflation Improvement
Inflation, interest rates, and recession will dominate the U.S. economic narrative in the first quarter of 2023, shifting in the second and third to a focus on timing of recovery and a more neutral monetary policy and, in the fourth, whether and when the Fed will signal the start of a new easing cycle, according … Continue reading Monetary Policy Drives Economic Prospects; Geopolitics Limits Inflation Improvement →
POSTED JANUARY 19, 2023 5:34 PM |
Catalytic Converter Thefts Up, SpurringLawmakers to Act
By Max Dorfman, Research Writer, Triple-I Rising thefts of catalytic converters – driven, at least in part, by increased black-market prices for the motor vehicle pollution-control component – have prompted renewed state and federal focus on stopping these crimes. Converter thefts rose in 2021, with 52,206 reported, up from 1,298 in 2018, according to claims … Continue reading Catalytic Converter Thefts Up, SpurringLawmakers to Act →
POSTED JANUARY 09, 2023 2:50 PM |
Data Call Would Hinder Climate-Risk EffortsMore Than It Would Help
A new data-reporting mandate the U.S. Treasury Department’s Federal Insurance Office (FIO) is considering imposing on certain property/casualty insurers raises a variety of concerns both for insurers and their policyholders. In response to a request for comments on the proposed data call, Triple-I has told FIO that the requested data would be duplicative, could lead … Continue reading Data Call Would Hinder Climate-Risk EffortsMore Than It Would Help →
POSTED DECEMBER 22, 2022 12:38 AM |
JIF 2022 Wrap-Up:From Risk Transferto “Predict & Prevent”
Among the themes running through Triple-I’s 2022 Joint Industry Forum (JIF), a dominant one was the growing importance of predicting and preventing losses, versus the property/casualty insurance industry’s traditional emphasis on transferring risk from policyholders to insurers and assessing and paying claims when they arise. Increasing severity of weather- and climate-related events, compounded by rising … Continue reading JIF 2022 Wrap-Up:From Risk Transferto “Predict & Prevent” →
POSTED DECEMBER 20, 2022 5:00 PM |
A Discussion of Progress and Challenges in Diversity, Equity, and Inclusion at JIF 2022
By Max Dorfman, Research Writer, Triple-I At JIF 2022, a panel assembled to discuss the importance of diversity, equity, and inclusion (DEI) in the insurance industry. Jennifer Kyung, Property & Casualty (P&C) chief underwriter, USAA and Triple-I Chair, moderated the discussion, which focused on a wide array of issues, including the talent gap. “We need … Continue reading A Discussion of Progress and Challenges in Diversity, Equity, and Inclusion at JIF 2022 →
POSTED DECEMBER 19, 2022 2:35 PM |
Florida and Legal System Abuse Highlighted at JIF 2022
By Max Dorfman, Research Writer, Triple-I Florida took center stage at JIF 2022, as a group of panelists discussed growing courtroom costs and the rise of legal system abuse. “Legal system abuse is a combination of factors, including social inflation, nuclear verdicts, third party litigation funding, tort reform pullback, cost shifting schemes, and attorney advertising,” … Continue reading Florida and Legal System Abuse Highlighted at JIF 2022 →
POSTED DECEMBER 16, 2022 2:24 PM |
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