Last year, State Farm filed for property/casualty rate increases of 30% to 55%, citing concerns about maintaining solvency. The proposed hikes include a 30% increase for non-tenant homeowners, 55% for condominium coverage, 41.6% for tenant policies, 53.6% for personal liability umbrellas, 38% for rental property damage, and 55% for business owner policies, according to the report.
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
Sodium cyanide update An exclusion zone is in place around both vessels. According to some reports, the cargo ship owners say the Solong was not carrying sodium cyanide, as previously reported, but did carry empty containers that once held the toxic chemical. Source link
Intact Financial Corp. reported an estimated C$244 million (US$173.2 million) in net, pretax catastrophe losses for the first quarter of the year, driven by a series of weather-related events across Canada, the United Kingdom, Ireland, and the United States. Source link
“This acquisition is part of our strategic effort to scale high-growth broking businesses and expand our capabilities across the insurance value chain,” said Scott Burnett, head of corporate mergers and acquisitions for WTW’s risk and broking division. “GCC brings strong market penetration, especially in the trade credit space, and will significantly enhance our scale and…
At Central Insurance, we understand construction businesses’ unique safety challenges. That’s why we’re dedicated to providing comprehensive risk management solutions to protect your team and your bottom line. We’re excited to introduce Shawn Gentry as our new loss control construction specialist to enhance our commitment to your safety. With over a decade of hands-on experience…
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
