With corporate spending on class action lawsuits hitting $4 billion in 2023, labor and employment-related claims emerge as primary drivers of these cases, according to a Carlton Fields.
With global insured losses from natural disasters hitting $108 billion in 2023, Swiss Re emphasizes the urgent need for adaptation measures and climate risk mitigation.
The insurance industry — which is facing an exodus of older workers over the next few years — must adapt its talent assessment and development strategies to better attract, nurture and retain the next generation of professionals.
Health and safety risks top the list for global directors and officers, surpassing cyberattacks and data loss, according to survey from WTW, Clyde & Co.
Despite a 9.9% growth in net earned premiums, the US property/casualty industry reported a $21.2 billion underwriting loss in 2023, according to a report by AM Best.
The 2024 FM Global Resilience Index, with six new risk factors, guides businesses in strategic decision-making on property and operations in the most resilient business environment.
Insurance CROs are optimistic about their ability to shore up their operational defenses in 2024 despite global economic headwinds, and complex emerging risks, EY/IIF survey finds
The rise of generative AI and Large Language Models (LLMs) heralds a new era in cyber risk, potentially enabling more effective and widespread cyber-attacks, warns a recent report from Lloyd’s.
The U.S. construction insurance market is stabilizing after a challenging period, but will still face rate pressures due to inflation, interest rate uncertainty, and rising claims costs, according to a recent WTW report.
Product recalls across several various sectors experienced record breaking product recalls, according to a recent Sedgwick report. Regulatory changes within the last year could serve as the reasoning for the five-year high.
Conning survey reveals a surge in AI adoption within the insurance industry, with large language models leading the tools being explored for sales, underwriting, and claims processing.