March 2025
Q1 2025 Personal Lines Trends and Perspectives
Property plays catch-up while auto shifts gears As 2025 began, underwriting fundamentals in auto and property were out of sync: While auto insurance again experienced profitability not seen since 2020, property profitability continued to lag, held back by climate-driven disasters and inadequate rates. But auto insurers face challenges as well, including the need to make […]
Mangione case rattles industry leaders
CEOs are scrambling to remove as much online information about themselves, their lives and families following the sudden popularity of Luigi Mangione assassin of health insurance leader Brian Thompson on December 4. Incredibly, to many the suspect has become symbolic of the rage, some policyholders have toward their health and other insurers. Instances of rage […]
Gallagher acquires firms in UK, New YorK
Gallagher Bassett Services Inc. claims management has acquired W K Webster & Co. Ltd., a London-based marine and transit claims consultancy. Separately, Gallagher said Monday it acquired Syracuse, New York-based Dominick Falcone Agency Inc. and Falcone Associates Inc. Terms of the transactions were not disclosed. W K Webster, with 250 employees, has offices in New […]
Trial Court Incorrectly Refused Insurer’s Demand for EUO
Apparent Staged Accident Requires EUO to Investigate Potential Fraud The trial court initially denied Allstate’s suit stating that Allstate failed to show good cause and did not cite any contractual provision compelling the Appellees to provide information in an examination under oath (“EUO”). Allstate argued that it had a duty to investigate suspected insurance fraud […]
The General Counsel Report Identifies Priorities and Biggest Drivers of Cost Increases for Legal Departments
FTI Consulting, Inc. (NYSE: FCN) and global technology company Relativity PRESENTED findings from part one of The General Counsel Report 2025. The study found that 85% of general counsel expect corporate risk and demand on the legal department to increase at an accelerating rate in the year ahead. This expectation is combined with a reported increase in the overall […]
Risk Strategies Acquires Griffith Insurance, LLP
Strong alignment with construction industry, commercial and private client business segments Risk Strategies, a leading North American specialty insurance brokerage and risk management and consulting firm, announced it has acquired Griffith Insurance, LLP, a full-service independent insurance agency based in West Chester, Pennsylvania. Terms of the deal were not disclosed. Founded in 1988, Griffith Insurance provides […]
Q4 2024 Auto and Property Insurance Shopping Increased 20% Compared to Q4 2023
Property insurers struggle with profitability due to delayed rate increases and natural disasters Chicago, Feb. 18, 2025 — Both auto and property insurance shopping saw 20% year-over-year increases in Q4 2024, according to TransUnion (NYSE: TRU) research. However, profitability for auto and property insurance was uneven. While auto insurance has come close to achieving rate […]
Post Procurement Fraud Prevents Rescission
Rescission in Michigan Requires Preprocurement Fraud Lie About Where Vehicle Was Garaged After Policy Inception Not Basis for Rescission This appeal turns on whether fraud occurred in relation to an April 26, 2018 renewal contract for a policy of insurance under the no-fault act issued by plaintiff, Encompass Indemnity Company (“Encompass”). In Samuel Tourkow, by […]
Electronic Notice of Renewal Sufficient
Renewal Notices Sent Electronically Are Legal, Approved by the State and Effective Washington state law allows insurers to deliver insurance notices and documents electronically if the party has affirmatively consented to that method of delivery and has not withdrawn the consent. The Plaintiffs argued that the terms and conditions statement was not “conspicuous” because it […]
