Content from Chad Hemenway
Allstate Reports May Pretax Catastrophe Losses of $1.4B
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed to nearly $1.5 billion in catastrophe losses ...
Nuclear Verdicts’ Amount, Frequency Continue to Increase: U.S. Chamber of Commerce
A recent report from The U.S. Chamber of Commerce Institute for Legal Reform (ILR) has found that nuclear verdicts of $10 million or more are on the rise. Looking at verdicts from 2013 to 2022, ILR ...
After First Net Loss Since 1923, USAA Back to Profit in 2023
USAA on Friday said it recorded net income for 2023 of about $1.2 billion, reversing a 2022 loss—the first for the company since 1923—of about $1.3 billion. The San Antonio, Texas-based ...
AIG Drops Claims Against Former Execs Who Started E&S Insurer Dellwood
American International Group and a group of its excess and surplus lines subsidiaries have dropped claims against three former AIG executives who launched Dellwood Insurance Group but its claims ...
American National Exiting Homeowners Insurance Market
Following its announcement several months ago to leave the homeowners insurance business in nine states including California and Louisiana, American National appears to be exiting the line in all ...
Nationwide Pet Shedding 100,000 Policies
The leading pet insurer in the U.S. said it is dropping about 100,000 policies starting this ...
New Talc-Related Class Action Lawsuit Goes After J&J for Fraudulent Conveyance
With recent news that Johnson & Johnson is going forward with a third bankruptcy plan of a subsidiary to settle tens of thousand of lawsuits that it's talc products cause cancer, a class-action ...
CIAB: Commercial P/C Premiums Increase 7.7% in Q1 2024
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7 percent on average in the first quarter of 2024. According to The Council of Insurance Agents and ...