Willis launches FinTech Plus | Insurance Business America

“A key difference between an action in tort and an action in contract is that in the latter, the standard of performance is set by the defendants’ promises, rather than imposed by law,” the court wrote. The indemnity obligation in this case, the court found, was one CHA “freely and intelligently chose to be bound”…

Gallagher commented on current conditions in the global property and casualty insurance market, noting a continued divergence between property and casualty premium trends. According to the company, commercial property renewal premiums declined 2%, while casualty increased 8% during the first quarter of 2025. Exposure changes, including mid-term endorsements, remained positive. The company also reported no…

Testifying before the Senate Committee on Banking, Housing, and Urban Affairs, Robert Gordon, senior vice president of policy, research, and international at the American Property Casualty Insurance Association (APCIA), outlined how legal system abuse and excessive litigation have added financial pressure to the insurance sector.  Source link

The deal includes 15 insurance programs across accident and health, property/casualty, and reinsurance, along with the retail agency NSM Insurance Brokers, the company said in a statement. As part of the transition, NSM’s operations will be split into two distinct entities. New brand identities will be introduced for both the U.S. commercial and direct-to-consumer businesses,…

Notably, before the Elon Musk-led Department of Government Efficiency (DOGE) officially took off, a coalition of nine state insurance commissioners from Alabama, Arkansas, Kansas, Louisiana, New Hampshire, North Carolina, Oklahoma, Tennessee, and West Virginia issued a joint letter to the agency urging the elimination of the FIO. Source link

However, the court sided with the defendants, namely Blue Cross and Blue Shield of New Mexico, Presbyterian Health Plan Inc., and Western Sky Community Care Inc., based on the structure of New Mexico’s Benchmark Plan. This plan, which guides insurer coverage in the state, does not explicitly cover cannabis and excludes reimbursement for substances that…