State Farm says it plans to increase the size of its claims workforce by 10%, or about 3,000 employees, starting in 2027. The Bloomington, Illinois-based carrier reports roughly 30,000 claims employees across the country. State Farm handles nearly 11 million …
Insurance Australia Group said on Friday it had agreed to settle an A$2.8 billion ($1.96 billion) Credit Suisse lawsuit over losses linked to the collapse of finance firm Greensill Capital. Here are some key details: The insurer did not disclose …
Hurricane Nolo is threatening Hawaii, a state already raked by multiple natural disasters since March that have caused hundreds of millions of dollars in damage. Nolo’s top winds reached 75 miles (120 kilometers) per hour as it churned about 450 …
The National Association of Insurance Commissioners defended its supervision of Wall Street’s influence over insurers and their bets on private credit, as the group seeks to dispel U.S. Senator Elizabeth Warren’s doubts about potential regulatory gaps. In a letter Thursday …
Tesla’s FSD automated-driving system frequently exceeded speed limits and attempted to overtake cyclists on streets where it’s prohibited, a road-safety advocacy group said, citing tests it conducted in Belgium. The Belgian group Johanna.be – which advocates for pedestrian and cyclist …
Investors in a catastrophe bond targeting Mexico are betting they’ll be spared losses as Hurricane Polo looks set to avoid landfall as a dangerously destructive storm. “I’d never say never,” said Florian Steiger, chief executive of Zurich-based cat-bond manager Icosa …
Electric utility Southern California Edison is urging California lawmakers to hold a special session before year-end to consider limiting utilities’ exposure to future wildfire liabilities, CEO of parent company Edison International EIX.N Pedro Pizarro said this week. Electric utility infrastructure …
Legal filings against residential rental properties in New York City grew substantially between 2021 and 2023 and then remained constant at that elevated level, according to research from Milford Street Captive Insurance. The analysis conducted by LegalClaimsAI and the NYU …
