Auto Insurance

‘Big Four’ Reinsurers Maintain Property-Cat Appetite, Despite Signs of Rate Softening

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‘Big Four’ Reinsurers Maintain Property-Cat Appetite, Despite Signs of Rate Softening

Europe’s four largest reinsurers – Swiss Re, Munich Re, Hannover Re and SCOR – are maintaining their appetite for property-catastrophe risks as well as their ambitious profit targets for 2025 – despite signs of rate softening and hefty claims from January’s California wildfires, according to AM Best. “This follows a period of right-sizing of [property-cat] […]

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NCDOI Investigating Agency Over Complaints That Policies Weren’t Obtained

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Hundreds May Have Been Exposed to Rabies in Grand Teton National Park Cabins

Investigators with the North Carolina Department of Insurance searched an insurance agency and a home in Salisbury after reports that insurance premiums had not been used to secure policies. “The N.C. Department of Insurance has received several consumer complaints regarding this company and is currently investigating this case,” reads a statement from the DOI. The

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Farmers Insurance Data Breach Could Impact More Than a Million Customers

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Farmers Insurance Data Breach Could Impact More Than a Million Customers

A recently discovered data breach may impact more than one million customers of Farmers Insurance, warned a recent notification to Maine’s Attorney General. Farmers Insurance Exchange, Farmers Group, Inc. (its attorney-in fact), and their subsidiaries and affiliates provided notice of the security incident that could reveal personal customer information. The insurer’s notice, available on its

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AM Best Upgrades Stonetrust Workers’ Compensation to “A” Rating

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Hundreds May Have Been Exposed to Rabies in Grand Teton National Park Cabins

AM Best upgraded Baton Rouge based regional workers’ compensation insurer, Stonetrust Commercial Insurance Company’s Financial Strength and Credit Ratings from A – (Excellent) to A (Excellent). Stonetrust offers workers’ compensation coverage and services to more than 5,000 policyholders in Louisiana and eleven other states in the midwest and southeastern regions of the United States. AM

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20 Years After Katrina, Hurricane Risks to Gulf Coast Rising, Scientist Warns

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20 Years After Katrina, Hurricane Risks to Gulf Coast Rising, Scientist Warns

The Gulf Coast of the United States is increasingly vulnerable to hurricanes, a scientist has warned in a new study, 20 years after Katrina devastated New Orleans and hundreds of miles of coastline. Mark Bove, a meteorologist with the German reinsurer Munich Re, warned in his review, seen by Reuters, that the risk of major

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Ransomware Hack Hits Orange Telecom, Data Published on Dark Web

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Ransomware Hack Hits Orange Telecom, Data Published on Dark Web

A criminal hacking gang has stolen business customer data from French telecommunications company Orange SA and posted it online, according to people familiar with the matter. The breach, which Orange disclosed and reported to national authorities at the end of July, targeted the company’s internal systems with ransomware associated with a gang calling itself Warlock,

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Aging US Railroad Bridges Are Self-Inspected and Findings Are Kept Secret

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Aging US Railroad Bridges Are Self-Inspected and Findings Are Kept Secret

The fire burned for about nine hours, billowing smoke and scorching the wooden trestles of a nearly 75-year-old railroad bridge that spans the Marys River in Corvallis, home to Oregon State University. Long after the flames died out, Michelle Emmons, a local environmental advocate, could still smell the noxious stench of charred creosote — a

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Tour Bus Rollover Kills 5 on Highway in Western New York

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Tour Bus Rollover Kills 5 on Highway in Western New York

A tour bus returning to New York City from Niagara Falls with 54 people aboard crashed and rolled on its side Friday on an interstate highway, killing five passengers and injuring many others, authorities said. The driver apparently became distracted, lost control and overcorrected before the bus went into the right shoulder and flipped over

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Oregon Division of Financial Regulation Earns NAIC Accreditation

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Oregon Division of Financial Regulation Earns NAIC Accreditation

The Oregon Division of Financial Regulation (DFR) recently received its five-year accreditation from the National Association of Insurance Commissioners (NAIC). The purpose of NAIC accreditation is to ensure that state insurance departments meet baseline standards of solvency regulation, particularly with respect to regulation of multi-state insurers. Accreditation is awarded only after a detailed, comprehensive review

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Hurricane Erin Is Disrupting Both Europe’s Weather and Forecasts

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Missouri’s Mutual Insurance Companies Report Stronger Results in 2024

Hurricane Erin is muddling computer models and making forecasters, analysts and traders question the accuracy of the outlook for heat, wind and storms across Europe next week. Erin, which churned through the Atlantic 330 kilometers (205 miles) off the North Carolina coast on Thursday,is set to create atmospheric ripple effects that could amplify heat and

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