Insurance
Insurance products and industry updates
Maryland Court Rules on Insurance Coverage Amid Abuse Allegations Against Boarding School
A federal judge has determined that Philadelphia Insurance must defend a Maryland boarding school in a sexual abuse lawsuit despite policy timing issues.
Insured Losses from Hurricane Isaias Estimated at $3.5 Billion by Moody’s RMS
Moody’s RMS projects insured losses from Hurricane Isaias at $3.5 billion, primarily from wind damage, with smaller contributions from flooding.
California Contractors Hit with $212,500 in Penalties Following Fatal Tunnel Incident
Two contractors face significant fines after a tunnel collapse in California resulted in one worker’s death and serious injuries to another.
Expedia Faces Lawsuit Over Allegations of Inflated Hotel Prices
A class-action lawsuit claims Expedia Group is inflating hotel rates by restricting pricing options for hotels, impacting travelers' costs significantly.
Travelers Reports Modest Earnings Growth Amid Stable Commercial Insurance Prices
Travelers' third-quarter earnings rose 2% due to steady commercial insurance pricing and increased investment income, despite higher catastrophe losses.
French Supermarkets Struggle with Uncovered Losses After Cyberattack
Recent cyberattacks on French supermarkets may result in millions of euros in uninsured losses due to outdated technology and policy exclusions.
Specialist Risk Group Opens Perth Office to Expand Australian Reach
Specialist Risk Group’s new Perth office extends its Australian presence and targets Western Australia’s energy, construction, agriculture and professional services sectors.
Specialty Insurers Navigate Uncertain AI Liability Landscape Without Exclusions
Specialty insurers are viewing AI risks as individual cases rather than blanket exclusions, prompting a market shift amid liability uncertainties.
Aon Appoints Chris Rafferty as Chief Integration Officer Amid Major Acquisition
Aon announces Chris Rafferty as chief integration officer, succeeding him with Steven Carleton as Chicago market leader, enhancing its strategic acquisition efforts.
Allianz Faces Legal Battle Over Igloo Cooler Injury Claims
A federal court ruled Allianz must defend Igloo against certain injury claims linked to cooler defects, despite some coverage exclusions.
Connecticut Enhances Workers' Compensation for Assault Victims in the Workplace
Connecticut's new law offers full wage replacement for workers injured in assaults on the job, benefiting teachers and healthcare workers.
Marsh Raises Cost Savings Goal Amid Rising Revenue and Profit
Marsh has boosted its cost savings target to $600 million while reporting an 8% rise in third-quarter revenue, despite a decline in reinsurance income.
Teen's Unique Approach to Career Exploration Turns Heads in New York
A New York teenager's inventive job search strategy—posting flyers on light poles—offers insightful lessons on career exploration and networking.
Shinhan Financial Group to Acquire Majority Stake in Lotte Non-Life Insurance
Shinhan Financial is set to purchase a 77% stake in Lotte Non-Life Insurance for approximately $515 million, aiming for full integration thereafter.
Liberty Mutual Expands Reach in Brazil with Acquisition of Austral Seguradora
Liberty Mutual is set to enhance its presence in Brazil by acquiring Austral Seguradora, boosting its position in the surety market.
Generali and World Bank Collaborate to Launch Risk Mitigation Facility for Emerging Markets
Generali and the World Bank are establishing a risk mitigation facility focused on safeguarding investments in several emerging markets, starting with Asia.
Marchesi Antinori Faces $6 Million Loss from Wine Heist Due to Insurance Gaps
Marchesi Antinori's $6 million wine heist loss exposes significant underinsurance, raising concerns about security vulnerabilities at the Tuscan winery.
TT Club and U.K. P&I Members Approve Merger, Creating $750 Million Premium Group
Members approved a merger expected to combine about $750 million in annual premiums across shipping, ports, terminals and logistics.
Tryg AS Reports Increased Q3 Profit on Strong Underwriting Performance
Tryg AS posted a 10% year-on-year rise in Q3 profit, driven by improved underwriting and low large claims, signaling financial strength in the Nordic markets.
Ransomware and Cyber Incidents Spike in South Korea and Japan
South Korea sees a 20% rise in cybersecurity incidents, with ransomware attacks soaring 77%, while Japan reports record incidents by mid-2026.