Given the lack of a present, quantifiable obligation from LPCiminelli to the Debtor, the court determined that the Debtor could not establish a right to payment under the bonds at this time. Therefore, the court granted Liberty Mutual’s motion, denied the Debtor’s cross-motion, and dismissed the complaint without prejudice. Source link
“The only way for AI to be successful in the organization, beyond being a tool that people use to write things and query, is if you prepare for it,” Schreiber said. “AI, like people, needs to be trained. It needs feedback. It needs to be managed. It needs people looking over its shoulder and saying…
Lloyd’s 2024 results Gross written premium for the year, meanwhile, rose to £55.5 billion, up from £52.1 billion in 2023, representing a 6.5% increase. The growth was driven primarily by an 8.5% rise in volume, including 7.6% from existing syndicates and 0.9% from new entrants. Source link
However, during the hearing, Zurich disclosed that approximately 15 to 20 employees handled war-risk claims. Judge Corley directed the primary insurers to query those individuals about any prior claims involving vessel seizures, captures, or detainments, and to share their findings with Chevron. Source link
Move enhances presence in construction, environmental and manufacturing Source link
At the time, the dealership’s shuttle was insured by Motorists Commercial Mutual Insurance Company. Smith lived with his then-wife, whose vehicle was insured by Farm Bureau, making him eligible for resident-relative coverage under her policy. Lacking personal auto insurance, Mr. Smith also filed for benefits through the Michigan Automobile Insurance Placement Facility, which provides coverage…
One firm announces a new CEO, and another a new CFO Source link
Sale proceeds will be used for share repurchases Source link
Designed for claims professionals, brokers, and underwriters across global markets, including the London market, general and specialty insurance in the UK, Europe, North America, Latin America, and the Asia-Pacific region, SmartRisk automates risk assessments and policy analysis. Source link
Lloyd’s 2024 results Gross written premium for the year, meanwhile, rose to £55.5 billion, up from £52.1 billion in 2023, representing a 6.5% increase. The growth was driven primarily by an 8.5% rise in volume, including 7.6% from existing syndicates and 0.9% from new entrants. Source link
As insurers retreat from some markets, policyholders are facing skyrocketing premiums, stricter underwriting and unexpected policy cancelations Source link
One wholesale broker’s view on FAIR problems – and where the next great opportunity might be coming from Source link
At the same time, UFG has embraced technology to navigate this turbulent landscape. Advanced catastrophe modeling, in particular, has reshaped the company’s ability to assess risk. “We’ve improved data capture and integrated new CAT modeling tools, allowing us to better analyze exposure and decide where we want to grow,” Salazar said. The models blend internal…
The transportation industry runs on reliability. The consequences can ripple far beyond a single shipment when cargo is lost, damaged, or delayed. Without proper coverage, businesses risk financial loss, reputational damage, and loss of key contracts, which can all be detrimental. This article will explore key insights from Jason McConkey, Director of Transportation Underwriting at…
Additionally, Marsh has also announced that Andrew Herring will take on the role of global chair of energy & power, effective January 1, 2026. Herring, who joined Marsh in 2010, has led the UK energy & power team since 2012 and will continue to be based in London. Source link
There is also the Nevada Public Employees’ Benefits Program (PEBP), which manages and administers health and life insurance programs for qualified Nevada government employees. Established in 1963, it offers comprehensive medical, prescription drug, dental, vision, life, and long-term disability insurance. Source link
It may impact home insurance pricing and coverage availability Source link
‘What this data tells us is that AI is part of that trusted inner circle’ Source link
Agent accused of mishandling premium payments on the hook after fire disaster Source link
Are your clients ready for the legal fallout? Source link
Speaking to IB, he said that most industry leaders agree that the future of insurance networks will be shaped by strategic growth, technological advancements, and increased collaboration. Specifically, Strakhov pointed to discounted vendor services, specialized support in accounting, legal, financing and consulting, as well as partnerships with MGAs and wholesalers that allow agents to manage…
Firms brace for rise in litigation risks Source link
At the time of initial funding, there were 313 Fortified-certified roofs in the state, according to the auditor’s report. As of Feb. 1, 2025, that number had increased to 5,413, representing a 17-fold growth over two years. The report noted that 64% of these certifications were not funded by the LFHP. Source link
Insurance revenue rose 11% to €48.1 billion, while operating profit (EBIT) increased to €4.9 billion from €3.1 billion in the previous year. Net income grew by 25% to €1.98 billion, exceeding the company’s original 2025 target ahead of schedule. Return on equity reached 17.9%, up from 16.6% in the year prior. Source link
Additionally, Marsh has also announced that Andrew Herring will take on the role of global chair of energy & power, effective January 1, 2026. Herring, who joined Marsh in 2010, has led the UK energy & power team since 2012 and will continue to be based in London. Source link
Insurance revenue rose 11% to €48.1 billion, while operating profit (EBIT) increased to €4.9 billion from €3.1 billion in the previous year. Net income grew by 25% to €1.98 billion, exceeding the company’s original 2025 target ahead of schedule. Return on equity reached 17.9%, up from 16.6% in the year prior. Source link
Industry groups, however, warned the bill threatens the fragile recovery of Florida’s insurance market. Katelyn Ferry, representing the Florida Justice Reform Institute, argued the proposal could reverse recent progress. “Make no mistake: If this bill passes, it’ll eradicate Florida’s insurance market,” Ferry said. She credited previous reforms with curbing premium hikes and attracting new insurers…
Insurance claim delays are the longest since 2008 Source link
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…
David Lewis, managing director at Kroll, said that financial institutions must keep pace with evolving threats, as illicit actors continuously adapt. Brent Tomlinson, co-president of risk advisory at Kroll, adds that professionals in the sector face increasing uncertainty, requiring strategic decision-making. Source link
