Benign Risk Period, Reinsurance Growth Strengthen P&C
Property and casualty insurance profitability is seeing generational highs with mortgage insurance and certain Florida homeowners carriers seeing particular success, but a relatively benign risk environment co... (more story)
Growing Share Of Fla. Premiums Going To Reinsurance Costs
Insurance companies are using an increasing share of Floridians' homeowners premiums to pay for reinsurance meant to offset their liabilities following a major disaster, according to research from the Brookings Institution.
Samsung Range Caused Wash. House Fire, Insurer Says
An insurer said it is entitled to recoup costs paid in connection with a Washington policyholder's house fire because the blaze was caused by a defective electric range manufactured by Samsung, according to a ... (more story)
Insurance Litigation Week In Review
Insurers needn't defend a telecom company accused of funding terrorist attacks, a behavioral health organization isn't entitled to coverage for a wrongful death settlement, and a reality television exclusion b... (more story)
State Farm Plans Calif. Return For Fire-Hardened Homes
More than three years after announcing it would no longer sell new homeowners insurance policies in California, State Farm has filed plans to begin writing new policies for Golden State homeowners who have mad... (more story)
9th Circ. Revives Bad Faith Claim In Title Insurance Row
A split Ninth Circuit panel on Wednesday partially reinstated Washington state property owners' suit accusing an insurer of bad faith by refusing to defend them and representing their opposing neighbors in an ... (more story)
Power Plant Drops $14M Lost Revenue Coverage Fight
The owner of a power plant in Dover Plains, New York, voluntarily dismissed its lawsuit accusing Factory Mutual Insurance Co. of wrongfully withholding more than $14 million in coverage for revenue losses stem... (more story)
11th Circ. Upholds AIG's $1.8M Yacht Fire Coverage Loss
An AIG unit cannot recoup $1.8 million from a dock builder and electrical subcontractor in connection with payments it made to a Florida policyholder whose yacht caught fire while plugged into a recently const... (more story)
Auto Parts Co. Fights Bifurcation Bid In $50M Coverage Trial
An auto parts manufacturer urged a North Carolina federal court to reject an insurer's request to bifurcate an upcoming trial over claims the insurer improperly denied $50 million in coverage for COVID-19 pand... (more story)
Data Center Suits, Arbitrations Have Tripled In Last 5 Years
Major lawsuits and arbitrations against data centers across the world have tripled since 2021, with disputes largely focused on zoning and environmental issues, according to a Tuesday report by global insurance group Howden.