Insurance

Jeff Batiste, senior vice president and general manager of U.S. auto and home insurance for LexisNexis Risk Solutions, said, “As auto insurance purchase growth begins to erode loyalty, that could separate temporary wins from lasting growth. Insurers who invest in retaining hard-earned customers will likely be better positioned as the market shifts from rapid expansion…

Jeff Batiste, senior vice president and general manager of U.S. auto and home insurance for LexisNexis Risk Solutions, said, “As auto insurance purchase growth begins to erode loyalty, that could separate temporary wins from lasting growth. Insurers who invest in retaining hard-earned customers will likely be better positioned as the market shifts from rapid expansion…

Mist filed the claim on December 8, 2015. Berkeley reserved its rights from day one. In a coverage letter dated March 9, 2016, it agreed to pay 10% of legal fees, but provided full details of the capacity exclusion. This section prohibits coverage for any loss associated with a claim: “On the basis of, directly…

the mechanics behind the headlines The source of the confusion is a contractual provision called notice of cancellation – built into every war risk policy as a mechanism by which underwriters cover reinsurance if there is a material change in the risk landscape. As hostilities escalated, P&I clubs, including the American Club, Guard, Skuld, Northstandard,…

State Farm’s recent litigation and regulatory exposure is closely linked to the scale and concentration of its disaster footprint. In Los Angeles County alone, the insurer covers approximately 250,000 homes and 880,000 vehicles, translating into more than 12,000 wildfire claims during the January 2025 events. By mid-year, the company had paid out more than $4…

P&I clubs exclude war risk from standard mutual cover as a listed peril. In obvious cases – a ship hit by a missile in an active war zone – the exclusion applies, and owners must look to their separate war risk tower for cover. However, Ogulukian acknowledged that it is difficult to draw clear lines…

00:01 Insurance Business TV recently attended the 25th annual TMPAA Annual Summit in Scottsdale. While there, we met with leading insurance professionals to address some of the top challenges facing the industry today. 00:17 I’m here with Matthew Jones, head of business development and transparency ventures as MS Transfer. 00:26 The special events market is…

Role of reinsurance, retrocession and pricing in net losses The report explains how risk transfer and catastrophe pricing shape net risk. The 50 insurers with the largest natural catastrophe exposures face a combined aggregate risk of approximately $430 billion under a 1-250-year event. After reinsurance and retrocession, the average exposure reduces from about 34% of…

The dispute concerns the grounding of the tank vessel T/V Margara in Puerto Rican waters, an incident that posed a significant risk of oil spillage and damage to coral reefs and related marine resources. The United States, acting on behalf of the Coast Guard and the National Oceanic and Atmospheric Administration, filed suit under the…

As per paragraph 20 of the policy, the producers took the dispute to arbitration. According to the complaint, the arbitrator’s amended decision found that each plaintiff filed its own FSA-578 forms, kept its own tobacco contracts, sales receipts and soybean receipts, and signed its own assignments of indemnity. The arbitrator also found that Hudson “did…