David Blades (pictured above), associate director, industry research and analytics at AM Best, said that social inflation, life care plans, jury anchoring, and litigation financing are frequently cited as contributing to the escalation of excess verdicts.
Running a business comes with risk—and business insurance is one of the best ways to protect everything you’ve built. But when it comes to budgeting for coverage, many owners find themselves asking the same question: How much does business insurance cost? The answer? It depends. From the size of your business to the safety measures…
State Farm, caught in the middle of conflicting demands, opted to file a federal interpleader action – a move that allows insurers to deposit funds with the court and step aside while potential beneficiaries litigate who is entitled to the money. Robbins, in turn, sued State Farm in state court, alleging breach of contract, violations…
The increase, the company said, was mainly due to “expected higher stop loss medical costs” and the lingering impact of Medicare Advantage operations that Cigna has since divested. The sale of its Medicare businesses to Health Care Service Corporation (HCSC), parent of several Blue Cross and Blue Shield plans, closed in late March. That transaction…
In addition to scoring service performance, the survey asked brokers to identify their top three wholesale partners by line of insurance across 20 major coverage areas. The leading three in each category were awarded gold, silver, and bronze rankings. MGAs also competed for a “Brokers’ Pick” medal, given to the most frequently cited products. Source…
The report notes that tariffs, particularly those affecting the cross-border movement of construction materials, are expected to add further pressure to cost structures. Outside the United States, regional economic conditions are playing a key role. In Asia, growth is supported by both public and private investment, especially in energy and infrastructure. Source link
