Industry News

Claims Journal

China City at Center of Coronavirus Shuts Transport Network; 17 Deaths Reported

Jan 22, 2020 BEIJING/SHANGHAI, Jan 22 Deaths from China’s new flu-like virus rose to 17 on Wednesday, with more than 540 cases confirmed, leading the...

Business News: RiskStream, Sedgwick, Clara Analytics

Jan 22, 2020 RiskStream Launches Innovation Lab The RiskStream Collaborative, a consortium of insurers that making a joint investment in blockchain technology, has created a new entity that...

Family Sues Hawaii School Over 5-Year-Old Boy’s Death While Kayaking

Jan 22, 2020 HONOLULU — The family of a 5-year-old boy who died on a kayaking excursion filed a lawsuit against the school that conducted the trip. The family of Alaric Chiu...

Duck Boat Owner Settles Final Lawsuit Over 2018 Missouri Accident That Took 17 Lives

Jan 22, 2020 The owner of a tourist duck boat that sank in a Missouri lake, killing 17 people, has settled its final pending lawsuit for an undisclosed amount...

Best's Reviews

ProAssurance Estimates $37 Million in Fourth-Quarter Prior-Year Adverse Development

Jan 22, 2020 ProAssurance Corp. said it estimates $37 million of adverse development in prior accident year loss reserves in the fourth quarter...

RLI Posts $53.4 Million Fourth-Quarter Net

Jan 22, 2020 RLI Corp. reported fourth-quarter net income of $53.4 million, helped by net favorable development in prior-year loss reserves. The net income compared with a $20.7...

UK Broker Group Warns of ‘Severe Shortage’ of Construction, Building Safety PI Cover

Jan 22, 2020 In its annual manifesto, the British Insurance Brokers’ Association warned of a “severe shortage” of affordable professional...

AM Best Downgrades Credit Ratings of Florida Family Insurance Company and Its Subsidiary

Jan 22, 2020 AM Best has downgraded the Financial Strength Rating (FSR) to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit...

Insurance Journal

Trump Says U.S. Has Plan to Contain Coronavirus

Jan 22, 2020 President Donald Trump said on Wednesday that the United States has a plan in place to contain the coronavirus outbreak. Speaking on the sidelines of the World Economic Forum (WEF...

Marsh Sees Hike in Demand for Political Violence Insurance in Gulf After Tanker Attacks

Jan 22, 2020 Marsh, one of the world’s largest insurance brokers and risk advisers, has seen a spike in clients’ inquiries for...

Ransomware Exposure Driving Up Cyber Insurance Costs

Jan 22, 2020 U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said...

Philadelphia Teachers Union Suing District Over Asbestos in Schools

Jan 22, 2020 The union representing public school teachers in Philadelphia is suing the district over its handling of asbestos contamination in schools, the union said Monday....