Pennsylvania National, Zurich American in CGL dispute over defective workmanship
How much does foreseeability matter for a workman’s shoddy construction work to be covered?
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AI and cyber risks threaten digital healthcare landscape – CFC
From supporting operational efficiency to alleviating clinician workload, AI is becoming embedded in core healthcare functions. While private equity investment in digital health declined in 2023, CFC observed sustained interest in AI-powered technologies, which remain a key driver of sector transformation. Source link
Report reveals impact of US tariffs on global insurance sector
“Despite these large trade and market disruptions, we believe that the impact on most well-diversified insurance companies is manageable,” said Nadja Dreff, senior vice president, sector lead Global Insurance & Pension Ratings, Morningstar DBRS. “We expect insurers will take mitigating actions in the form of premium increases, adjustments to supply chains, tighter control of expenses,…
Heritage Insurance sees net income double
For the first quarter, Heritage reported a net income of $30.5 million, or $0.99 per diluted share, compared to $14.2 million, or $0.47 per diluted share, in the same period last year. Gross premiums earned in the quarter totaled $353.8 million, a 3.6% increase from the previous year’s $341.4 million. Source link
Steadfast Group’s new broker offering in New Zealand
Steadfast Group, Australasia’s largest brokerage network, with a presence in the US, has expanded its client trading platform in New Zealand to include personal lines. A media release today said Ando Insurance Group (Ando) is the first insurer partner and is offering home, contents and car insurance. Source link
TWFG explores FAIR Plan wrap options as challenges persist
Bunch also said developments in California’s property segment are tied to wildfire exposure, confidence in new catastrophe models, and reinsurance support. Filing new programs in the state remains difficult, he added, especially when competing with a state-run plan. Source link
Marsh McLennan Agency unveils new agribusiness insurance product
The broader agribusiness insurance market in the US has been affected by several ongoing challenges. More frequent and severe natural catastrophes, including wildfires, droughts, and hurricanes, have led to rising loss ratios and increased pressure on underwriting capacity. In response, many insurers have tightened terms, raised premiums, or withdrawn from high-risk regions. This has left…