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Inflation, Rising Claim Costs, Riskier Business Reasons Cited for Rate Increases in A&E Market: Survey

Insurance Journal

Architects and engineers professional liability insurers report concerns about the persistent effects of inflation on claim expenses, uncertainty about the U.S. economy, higher risk project types and professional design disciplines, as well as new exposures from artificial intelligence (AI), according …

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Insurance Groups Pushing Hard for Georgia Tort Reform as State Liability Costs Soar

Insurance Journal

Georgia’s governor has asked state lawmakers for $175 million to cover the growing costs of liability claims against state agencies and employees, as the state’s liability insurance fund has dwindled to a fraction of the outstanding costs. The Atlanta Journal-Constitution …

Liability 279
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Viewpoint: Early Action Key to Mitigating Risk in Professional Liability Claims

Insurance Journal

Professional liability claims impact a multitude of professions, including those in the legal, medical, financial and insurance industries. Claims for malpractice, breach of contract, breach of fiduciary duty and related issues can result in widespread premium increases and professional discipline.

Liability 264
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How Iran Oil Link Could Complicate Insurance Claims After Tankers Collide Off Singapore

Insurance Journal

A collision between two tankers off Singapore in July raises questions over insurance claims, as one of the vessels previously shipped Iranian oil, potentially complicating payments due to Western sanctions, ship-trackers and industry sources say. What Happened? The Singapore-flagged Hafnia …

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After $66M Florida Boat Crash Award, Judge Says TPA Can’t Halt Claims Adjustments

Insurance Journal

South Florida residents will likely remember Aaron Hirschhorn, the successful Miami entrepreneur who launched a dog-sitting service then won a big investment for a stem-cell therapy for dogs when he appeared on the “Shark Tank” TV show in 2019. Hirschorn …

Claim 229
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Insurers Say Dark Fleet Oil Tankers Pose a Major Claims Risk

Insurance Journal

Marine insurance markets face significant risk from the growth of a shadow fleet of ships hauling oil from sanctioned producers like Russian and Iran, an industry group said. The opaque nature of the ownership of those vessels makes it hard …

Risk 258
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The Institutes, Kevelighan Fire Back at Retaliation Claims by Former Triple-I Employee

Insurance Journal

The Institutes and Sean Kevelighan, chief executive of the Insurance Information Institute, deny the allegations of discrimination and retaliation from former employee Michael Barry. According to a filing in U.S. District Court for the Southern District of New York, Triple-I …

Claim 263