Industry News
Struggling Businesses at Corner Where George Floyd Was Murdered Sue Minneapolis
Several business owners at the struggling corner where George Floyd was murdered by a Minneapolis police officer in 2020 are suing the city to demand it take over their properties and compensate ...
Allstate Thinks Outside the Cubicle With Flexible Workspaces
After ditching two-thirds of its office space and selling its Chicago headquarters, Allstate Corp. realized that even employees who prefer working remotely still need a place to gather with their ...
AI Weather Models Have Shown Promise This Hurricane Season
When Hurricane Beryl was rushing across the Atlantic basin in July, the weather forecasting tool made by Google Deepmind, the tech company's artificial intelligence unit, saw something other models ...
U.S. Product Recalls on Pace to Hit 6-Year High
If the pace of product recalls continues in the fourth quarter, the number will reach a six-year high by the end of the year, a new report from Sedgwick shows.
New Hampshire High Court Invalidates GEICO Underinsured Claim Provision
A claim provision requiring insureds to seek underinsured benefits from their auto insurer within three years of an accident is unenforceable in New Hampshire because it restricts the insureds' right ...
Lloyd’s of London Shakes Up IT, Operations Teams
Commercial insurance market Lloyd's of London is restructuring its data, operations and change departments, which will involve outsourcing some of those units' work, a Lloyd's spokesperson said on ...
Insurance Industry Labor Market Remains Stable: Report
A majority of carriers (86 percent) intend to increase or maintain their staff sizes in the next 12 months, according to Jacobson's Q3 2024 Insurance Labor Market Study. The Bureau of Labor ...
Swiss Re Execs Sleeping Well After $2.4B Q3 Reserve Boost
While a $2.4 billion boost in loss reserves for the third-quarter will help Swiss Re's executives sleep better on a bigger cushion, across the industry, worsening trends in U.S. liability loss costs ...
Allstate Insurers Sue Hyundai, Kia to Pay for Claims From Defective Cars
A group of subsidiaries of Allstate have filed a subrogation suit against Hyundai and Kia to get back costs paid to insureds for damages when their cars suddenly erupted in flames. According to the ...