Allstate reports huge pretax cat loss

Regressive actions worsening the nat-cat protection gap While governments, companies, and individuals are taking action on the protection gap, risk management has been inconsistent, Mantero said. He cited high population growth rates in catastrophe-prone areas in the United States, such as Florida, where Hurricane Ian dealt significant inland flooding and damage to communities in 2022….

Despite an 18% decline, the District of Columbia had the highest vehicle theft rate in the country, with 842.4 thefts per 100,000 residents, more than three times the national average of 250.2 per 100,000. Other states with high theft rates included California at 463.2 per 100,000 residents, New Mexico at 458.2, Colorado at 430.0, and…

Akira and Black Basta dominate variants as early reporting proves critical Source link

The definition of “medical incident” under PorterCare’s policy included “any act or omission… which results in injury to a patient,” and crucially, stated that “all related acts or omissions… to any one person” would be considered a single incident. That wording, according to AdHealth, made it clear that each patient’s claim had to be treated…

With backing from Madison Dearborn Partners and later the Abu Dhabi Investment Authority, the firm has grown under CEO David Ross. Ardonagh has acquired assets in markets including Brazil, Spain and Italy. Last year, it purchased Australia’s PSC Insurance Group for an implied equity value of A$2.3 billion ($1.5 billion), taking the company private and…

GEICO’s accident forgiveness program is marketed as a way to prevent rate increases following a policyholder’s first at-fault accident. The insurer states on its website: “Your insurance rate won’t go up as a result of your first otherwise surchargeable, at-fault accident.” However, the lawsuit argues that the company’s handling of premium adjustments contradicts its marketing…