California’s private self-insured employers reported 7.4% fewer workers’ compensation claims in 2024 than in 2023, pushing private self-insured claim frequency to a four-year low, a new report shows. However, for the second straight year, the average paid and incurred losses […]
Tag: Losses
Adaptive Insurance, Tokio Marine HCC Partner on Power Outage Losses
Adaptive Insurance, a provider of parametric insurance solutions, has partnered with specialty insurer Tokio Marine HCC on GridProtect—an insurance product for short-term power outages. The flagship product from Adaptive, which says it is building an AI-driven platform to businesses create […]
Q1 Claims Volume Hits 5-Year Low But Severity Up on Wildfire Losses, Verisk Says
The first three months of 2025 brought devastating wildfires to California, significant wind and hail events to Texas, and substantial increases in activity to “Tornado Alley,” but claim volume fell to a five-year low, a property report from Verisk shows. […]
Credit Suisse, Softbank Fight Over Greensill Losses in $440M London Lawsuit
Credit Suisse’s $440 million London lawsuit against Japan’s SoftBank Group Corp kicked off on Thursday over losses linked to Greensill Capital, with the collapsed finance firm’s founder Lex Greensill expected to give evidence next week. The case, which centers on […]
Hurricane Wind Losses Could Rise 76% by 2060 in Southeast US
Hurricanes are expected to get more intense and destructive, as global temperatures rise and homeowners in Texas, Louisiana, Mississippi, and Alabama are expected to bear the brunt of it, according to a new study published in the journal Risk Analysis. […]
After Years of Losses, Florida Insurers Saw Underwriting Profits in 2024, AM Best Says
After eight years of losses, Florida’s personal property insurance market reported an underwriting profit and a considerable jump in operating income in 2024, the AM Best rating and analytics firm said in a report this week. The firm examined 45 […]
When Vandals Trigger the Sprinklers: The Battle Over Resulting Losses
When vandals triggered a sprinkler system in a vacant building, flooding it with over one million gallons of water, the result was not just property damage. Instead, it was a lawsuit that put the scope of all-risk commercial property insurance […]