NU Property & Casualty 360

Surplus lines insurers are now the dominant players in cyber

From 2015-2020 the surplus line sector held a relatively steady 25% market share. It is now over 60%.

Posted: Jun 13, 2023

The role of collaboration in the insurance industry

Bryan Falchuk of Insurance Evolution Partners discusses the importance of partnership between legacy insurers and insurtechs based on research from his latest book.

Posted: Jun 13, 2023

New weekly column to highlight insurance industry's good news

"Making a Difference" will be published weekly on Fridays. The new column will spotlight philanthropic work and more.

Posted: Jun 13, 2023

Niche practice: Lawyers secure wins in dog-bite cases as insurance landscape shifts

In one case, the jury awarded the plaintiff $18,284.65 in economic damages and $400,000 in non-economic damages.

Posted: Jun 12, 2023

Cyberattacks are accelerating with AI's help

"If you're a bad guy and you're not using ChatGPT or other LLMs to go and find vulnerabilities, you're probably not doing your job as a bad guy," said Scott Giordano, general counsel of Spirion.

Posted: Jun 12, 2023

Canadian wildfires affect air quality, lumber production

Across Canada, this year’s above-average number of wildfires have already destroyed at least 4 million hectares; about 1% of Canada’s total forest.

Posted: Jun 12, 2023

Insurify: 10 U.S. cities with the highest flood risk

Anywhere it can rain, it can flood. But these burgs are especially at risk.

Posted: Jun 12, 2023

Most homeowners that had weather damage in the past expect it to happen again

Just 2% of policyholders that have faced extreme weather think their homes will never see weather damages again.

Posted: Jun 12, 2023

Worker injuries at food production sites have been dropping

Strains continue to be not only the most common type of injury, but also the most expensive.

Posted: Jun 12, 2023

Americans showing enthusiasm for European summer travel

European travel is accounting for 42% of all summer travel insurance sales, according to Squaremouth.

Posted: Jun 11, 2023

Well-being and your small business

What to consider in determining your level of well-being, how it’s affecting your small business and what to do about it.

Posted: Jun 11, 2023

Who's using what in P&C insurance: June 12, 2023

Insurance technology news from Insurity, Ledgebrook, AMA and more.

Posted: Jun 11, 2023

Insurance suit by site of 2020 Nashville bombing removed to federal court

The bar's suit accuses the insurer of failing to cover its business losses as a result of the incident.

Posted: Jun 11, 2023

The shifting climate & home insurance are on a collision course

AIG is curbing home insurance sales in around 200 ZIP codes across the U.S.

Posted: Jun 11, 2023

British companies scramble for cyber-risk mitigation, insurance

Small and midsize companies remain especially vulnerable to state-sponsored cyberattacks, GlobalData says.

Posted: Jun 11, 2023

Insurer urges judges to reject Harvard’s claim to legal costs in Supreme Court case

First Circuit presses Harvard on missed notification deadline for insurance coverage in case challenging school's admissions policy.

Posted: Jun 08, 2023

People on the move in the P&C insurance industry: June 9, 2023

The latest insurance industry personnel news from NFP, The Hartford, McGlinchey Stafford and more.

Posted: Jun 08, 2023

Claims transformation: The inconvenient truth

Customers expect insurers to share information that illuminates the hidden dangers of their daily routines and to give guidance on minimizing the likelihood of adverse outcomes.

Posted: Jun 08, 2023

Florida joins 9 other states to fight against NFIP's Risk Rating 2.0

Florida, Louisiana and the other states are challenging Risk Rating 2.0, which changed the methodology for determining flood insurance prices.

Posted: Jun 08, 2023

How personal transformation, leadership growth drive business success

Increased emotional intelligence has a positive correlation with increased earnings potential.

Posted: Jun 08, 2023

Florida's Citizens seeking 13.4% average rate increase

Citizens is expected to hit 1.7M policies with $654B in total insured value by the end of this year.

Posted: Jun 08, 2023

Insurer must pay $9.2M after denying $1.2M claim for hurricane damage

The insurer refused the claim because it determined that the hurricane caused only minor damage to the property, and that the cost of any repairs was less than the insurance policy’s deductible.

Posted: Jun 07, 2023

Arizona blocks new homes in Greater Phoenix due to lack of water

No permits to be issued for new homes that rely on wells in Maricopa County.

Posted: Jun 07, 2023

Driven by Winter Storm Elliott, freeze claims jumped 428%

December 2022 through January 2023 saw an increase in every type of loss associated with winter storms compared to the previous year, according to a report from Verisk.

Posted: Jun 07, 2023

Get ready for boating season: Are you covered?

Boating enthusiasts should understand the types of insurance needed to protect against theft, damage, accidents and other disasters.

Posted: Jun 07, 2023