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Tag: insurance-journal

Nuclear Verdicts Surge to $14.5 Billion in 2023 – Report
Insurance Journal | May 10, 2024
Nuclear Verdicts Surge to $14.5 Billion in 2023 – Report
Nuclear verdicts of at least $10 million reached a 15-year high in 2023, while 27 verdicts were “thermonuclear,” or more than $100 million, according to a new study by research firm Marathon Strategies. The report, “Corporate Verdicts Go Thermonuclear,” found …
Personal Auto Insurers Have Edge on Innovation: AM Best
Insurance Journal | May 10, 2024
Personal Auto Insurers Have Edge on Innovation: AM Best
After two years of challenges for personal auto insurers, rating agency AM Best delivered a positive assessment: U.S. personal auto insurers are the furthest ahead when it comes to innovation. Personal auto insurers’ innovative processes include automated claims management and …
What Risks Do Advanced AI Models Pose in the Wrong Hands?
Insurance Journal | May 10, 2024
What Risks Do Advanced AI Models Pose in the Wrong Hands?
The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, Reuters reported on Wednesday. Government and …
Dallas to Atlanta Brace for Severe Thunderstorms: Weather Watch
Insurance Journal | May 9, 2024
Dallas to Atlanta Brace for Severe Thunderstorms: Weather Watch
Nearly 22 million people from Dallas to Atlanta will face another round of severe thunderstorms bringing downpours, hail and possibly tornadoes. For the last week, the central and southern US have been battered by ferocious storms and flooding that all …
People Moves: Leif Assurance Promotes Langworthy to Enterprise Relationship Manager
Insurance Journal | May 9, 2024
People Moves: Leif Assurance Promotes Langworthy to Enterprise Relationship Manager
Leif Assurance, a full-service insurance agency that exclusively handles construction insurance, has promoted Melinda Langworthy to the role of Enterprise Relationship Manager. Prior to this new position, she served as the company’s Senior Sales Account Executive. Langworthy will be responsible …
After Deadly Oklahoma Tornado, Storms Bring Twisters to Midwest
Insurance Journal | May 9, 2024
After Deadly Oklahoma Tornado, Storms Bring Twisters to Midwest
DETROIT (AP) — Severe storms battered the Midwest on Tuesday, unleashing a curtain of heavy rain, gusty winds and tornadoes throughout the region a day after a deadly twister ripped through a small Oklahoma town and killed at least one …
Alera Group Acquires Texas’ Trimble-Batjer
Insurance Journal | May 9, 2024
Alera Group Acquires Texas’ Trimble-Batjer
Alera Group announced the acquisition of Texas-based Trimble-Batjer. Founded in 1883, Trimble-Batjer provides surety and bonds, business solutions, employee benefits and insurance coverage for auto, home, health and life. The San Angelo agency specializes in construction, oil and gas, farm …
Travelers to Open Technology Office in Atlanta
Insurance Journal | May 1, 2024
Travelers to Open Technology Office in Atlanta
Just as companies worldwide struggle with the office-versus-remote work question, Travelers has decided to open a 2,800-square-foot office site in Atlanta to house its artificial intelligence, data science and other technology operations. Travelers, a global property and casualty insurer, plans …
Prudential to Wind Down Direct-to-Consumer Assurance Business
Insurance Journal | May 1, 2024
Prudential to Wind Down Direct-to-Consumer Assurance Business
Less than five years after acquiring online insurance startup Assurance IQ for $2.35 billion, Prudential is shutting it down. “Prudential Financial routinely evaluates strategic opportunities for its businesses that are aligned with its long-term growth strategy,” the company said in …
Insurtechs Root, Lemonade Book Q1 Net Income Losses but Each Tout Progress
Insurance Journal | May 1, 2024
Insurtechs Root, Lemonade Book Q1 Net Income Losses but Each Tout Progress
Insurtech Root Inc. posted a net loss for the first quarter 2024 of $6.2 million but said it recorded operating income for the first time in the company’s history. The net income loss for the first three months of the …