A news compilation of the insurance and risk management happenings.

Jacques de Vaucleroy, chairman of Swiss Re, hopes that higher prices will prompt catastrophe-exposed property owners to better prepare for climate risks.

Rescheduling the drug would make it possible to add medical marijuana to workers’ compensation formularies, but the move would also introduce new employment liabilities.

The NAIC’s national call for policy and claim is intended to help regulators address a growing crisis in property insurance, but some states are opting out of full participation in an effort to attract new capacity.

The Hartford joins a growing-list of insurers that have withdrawn from California’s homeowners insurance market.

The latest appointment in the commercial insurance space

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.

In an era of geopolitical shifts and macroeconomic transitions, businesses must navigate unpredictable challenges and capitalize on emerging opportunities, according to a Marsh report.

Rising reinsurance costs and inflation contributed to an increase in rating downgrades for U.S. property and casualty insurers in 2023, according to AM Best.

The National Academy of Social Insurance’s 2017-2021 report reveals the pandemic’s impact on workers’ compensation, highlighting decreased benefits and employer costs, and the need for adequate state protections.

Corporate fraud cases are on the rise, requiring more vigilance and internal controls before misdeeds cause a crisis, warns a report by Arthur J. Gallagher & Co.

United Educators’ 2023 report reveals escalating financial risks in education due to rising liability claims, emphasizing the need for robust risk management.

Despite a slowdown in premium increases, The Council’s Q4 2023 survey reveals rising commercial property premiums and customer dissatisfaction, prompting brokers to prioritize enhancing customer experience.

Facing increased competition and regulatory pressures, the U.S. D&O insurers receive a negative outlook with declining premiums and rising legal expenses.

As reinsurance rates stabilize, Lockton says higher property insurance rates persist, driven by insurer concerns over catastrophe losses and increased primary retentions

Exploring the rise in cumulative trauma claims, a recent CWCI study reveals the impact of tenure, industry sector, and wage scale on California’s workers’ compensation system

After a lull in 2023, Deloitte predicts a resurgence in insurance M&A activity in 2024, driven by private equity and external investments.

The data from FLIP’s report offers valuable insights for small to mid-sized operators in the food industry, helping them benchmark their claims experience and prospects for business growth

Credit and economic risks top the concerns for Canada’s financial sector, with cyber risk and technology/innovation risk emerging as significant threats, reveals a Global Risk Institute survey.