Insurance
Insurance products and industry updates
Insurance Brokers Brace for Significant Earnings Hit Due to Proposed Commission Caps
India's proposed broker commission caps could slash earnings by 12% and fees by up to 90% starting January 2027, raising industry concerns.
JPMorgan Forecasts Continued Declines in Property Catastrophe Reinsurance Rates through 2027
JPMorgan projects a 10% to 20% drop in property catastrophe reinsurance rates for January 2027, highlighting ongoing pricing pressures.
Kroger's Captive Insurers Face Negative Outlook Amid Increased Losses
A.M. Best has downgraded the outlook for Kroger's captive insurers, citing increased casualty losses affecting underwriting performance.
Lockton Appoints Vince Gaffigan to Lead U.S. Casualty Practice
Vince Gaffigan has been elevated to lead Lockton's U.S. casualty practice, a role that builds on his 26 years of tenure at the company.
Dunkin' Faces Lawsuit Over Misleading 'Zero Sugar' Claims in Beverages
Dunkin' is being sued for allegedly misleading customers about sugar content in its 'Zero' drinks, raising questions about labeling integrity.
Markel Unveils New Coverage for Chemical and Energy Sectors
Markel Insurance launches tailored property coverage for small to midsize energy businesses and promotes key leadership in its energy division.
Wisconsin Court Confirms Wage-Loss Award for Injured Welder Denied Rehire
A Wisconsin appeals court confirmed a wage-loss award for a welder who was not rehired despite another job being available after his injury.
Court Allows Temporary Worker’s Injury Lawsuit Against Concrete Company to Proceed
A North Carolina appeals court reinstated a temporary worker's injury suit against Johnson Concrete, rejecting the company's claim of employer immunity.
Pivix Launches Specialized Monoline Commercial Property Insurance Program
Pivix Specialty Insurance now offers a targeted monoline commercial property program in 20 states, specifically for well-maintained properties.
Tower Ltd. Reports 3% Increase in Gross Written Premium and Upgrades Profit Forecast
Tower Ltd. has announced a 3% rise in gross written premium and raised its net profit guidance for the year, driven by competitive pricing strategies.
Rising Casualty Insurance Claims Pressure Asia's Market
Casualty claims in Asia are increasingly frequent and costly, surpassing general inflation, driven by elevated labor and material costs.
Awbury Insurance Expands Operations to Japanese Credit Insurance Market
Awbury Insurance has entered Japan's credit insurance sector, enabling coverage for existing global clients with subsidiaries in the region.
Corteva Faces Lawsuit Over Vylor Spinoff Amid Allegations of PFAS Liability Shielding
Fifteen states have filed a lawsuit against Corteva, claiming its Vylor spinoff was a tactic to evade significant PFAS contamination liabilities.
Court Verdict Mandates Insurers Cover Silicon Valley Bank's Fraud Losses
A federal judge has ruled that insurers must compensate Silicon Valley Bank for significant losses incurred from loan fraud involving forged documents.
Attorney Advertising Remains Prominent in Auto Insurance Claims Landscape
A significant majority of consumers notice attorney advertising related to auto insurance claims, with mixed opinions on its impact on costs and claims.
Tennessee Judge Rules Against Dual Workers' Comp Claims for Virginia Injury
A Tennessee judge denies benefits to a worker pursuing dual workers' compensation claims after a Virginia injury, citing jurisdictional issues.
Key Business Insurance Developments: Leadership Changes, Legal Settlements, and New IPOs
This week, notable trends in business insurance include leadership shifts, significant legal settlements, and an upcoming IPO.
Zurich Insurance Unit Exempt from NFL Concussion Settlement Payments, Appeals Court Rules
An appeals court has ruled that Zurich American Insurance's unit is not responsible for covering the NFL's billion-dollar concussion settlement with players.
Marsh Agency Reorganizes Operations, Appoints New CEO for Combined East Region
Marsh Agency merges its East and Northeast regions, appointing Andrew Neary as CEO, amid strategic expansions and leadership changes.
Illinois Court Rules Insurer Not Liable for Coverage in Carpenter's Death
An Illinois appeals court concluded that an insurer is not obligated to cover a construction company's liability in a carpenter's fatal accident due to an exclusion clause.