Claims / Legal
Insurance Payouts at $4B and Counting for LA Wildfires
Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of ...
‘Underwriting Choices’ Added to Everest’s Social Inflation Woes: CEO
Social inflation wasn't the only factor that pushed the loss severity on the U.S. casualty book of Everest Group Ltd. up high enough to prompt a $1.7 billion loss reserve charge, the CEO said earlier ...
Property-Cat Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe ...
Claims Exec Who Defrauded Allied World Insurance Ordered to Prison, Pay $1.2M
James Keating of Paoli, Pennsylvania, has been sentenced to 20 months of imprisonment, followed by three years of supervised release, for defrauding his former employer of more than $1.4 million. ...
Everest Group Boosts Casualty Loss Reserves $1.7B
Everest Group, Ltd. pre-announced full-year 2024 earnings yesterday, disclosing about a 45 percent drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The ...
President Trump Proposes ‘Getting Rid of FEMA’ During Disaster Area Tour
President Donald Trump surveyed disaster zones in California and North Carolina on Friday and said he was considering "getting rid of" the Federal Emergency Management Agency, offering the latest ...
The 2025 Palisades and Eaton Fires: All the CM News So Far (Slideshow)
With conditions and loss estimates changing since wildfires began burning in California in early January, there has been a lot of content for insurance industry leaders to absorb. To help readers to ...
The Latest LA Wildfire Estimates: KCC Close to $28B
Risk modeler KCC has estimated that insured losses to residential, commercial and industrial properties, and autos from the Palisades and Eaton Fires will be close to $28 billion. KCC's estimate, ...