Ransomware still costly, but cyber claims down – Coalition

Wildfires reverse rate moderation  After signs of stabilization in 2024, the commercial property market experienced renewed pressure following major wildfire events. In January, the Palisades and Eaton Fires in Los Angeles County destroyed more than 16,000 structures, quickly depleting reinsurers’ catastrophe budgets for the year. Though 2024 reinsurance renewals were broadly favorable, the early surge…

New US automobile tariffs, along with additional proposed tariffs targeting key trading partners, could increase costs and introduce further volatility across property, auto, life, and health insurance lines, according to industry analysts. Source link

In a closely watched insurance dispute, a New York appellate court ruled on April 29, 2025, that Colony Insurance Company must defend and cover Sandy Clarkson LLC, a property owner, in a personal injury lawsuit stemming from a construction site accident – even though Sandy Clarkson had no direct contract with the subcontractor insured by…

As we move into 2025, employers in New York will need to stay on top of several new compliance changes that either recently went into effect or will be going into effect later this year. From new obligations under the Clean Slate Act to updates on COVID-19 sick leave, expanding protections for pregnant employees, strengthened…

The fund operated effectively throughout the 1990s, insuring approximately 155,000 policyholders statewide by 1999. However, as private insurers gradually returned to the market, the HHRF ceased issuing new policies in December 2000 and became dormant by 2002. Despite its inactivity, the fund maintained a reserve balance to ensure readiness in the event of future market…

Sensational media claims, as politicians blame insurers Source link