Monthly Archives: September 2022

Industry Roundup: Cyber-Insurer War Exclusion Clauses Face Reckoning; Trends Shaping the US Transportation Insurance Market; What Does a Recession Mean for Insurance Payments?; Is the Four-Day Workweek an Inevitable Part of Our Future?

​As War Rages on, Cyber-Insurer War Exclusion Clauses Face ReckoningAs more state actors engage in cyberwarfare, insurance companies and private businesses are struggling to find common ground on what the "War Exclusion Clause" means for them.Trends Shaping the US Transportation Insurance MarketThe transportation industry is driving into a barrage of headwinds in the form of inflation, rising gas and diesel prices, lower freight rates, supply chain disruptions, and ongoing challenges in the highly litigious liability arena.What Does a Recession Mean for Insurance Payments?Now more than ever, customers expect a modern checkout experience with flexible payment options and customer-first experiences.Is the Four-Day Workweek an Inevitable Part…

Continue ReadingIndustry Roundup: Cyber-Insurer War Exclusion Clauses Face Reckoning; Trends Shaping the US Transportation Insurance Market; What Does a Recession Mean for Insurance Payments?; Is the Four-Day Workweek an Inevitable Part of Our Future?

Industry Roundup: P&C Sector Outlook Stable Despite Claims Inflation; When Recession Strikes, Fraud Spikes; Auto Loss Costs Not Coming Down, Bigger Rate Hikes Ahead; Baksetball Hall of Fame and Chubb Hit the Court Over D&O Coverage

  • Post category:News

US P&C sector outlook stable despite further claims inflation, says Moody'sA recent report by Moody's affirmed that its stable outlook for the US commercial P&C insurance sector reflects strong underwriting profitability, despite slowing price increases and persistent claims inflation.When Recession Strikes, Fraud SpikesData shows reports made to the FBI's Internet Crime Complaints Center increased by 69.4% from 2019 to 2020.​Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEOHigher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the…

Continue ReadingIndustry Roundup: P&C Sector Outlook Stable Despite Claims Inflation; When Recession Strikes, Fraud Spikes; Auto Loss Costs Not Coming Down, Bigger Rate Hikes Ahead; Baksetball Hall of Fame and Chubb Hit the Court Over D&O Coverage

​ Albany Update: “Not One More Cost Hike” Campaign Launches

Last week, the Lawsuit Reform Alliance of New York, with support from Big I NY, launched a new ad campaign, “Not One More Cost Hike", in order to educate elected officials, local business owners, families, and voters of the costly consequences of A.6770/S.74-A. As written, the bill will radically expand the types of damages recoverable in wrongful death lawsuits – sending insurance premiums skyrocketing.Agents are urged to contact Governor Hochul and ask her to veto this bill. An analysis from global actuarial firm Milliman, Inc. finds that if A.6770/S.74-A is enacted, insurance costs – including personal auto and general liability for small businesses – could…

Continue Reading​ Albany Update: “Not One More Cost Hike” Campaign Launches