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As property and casualty insurers grapple with rising costs and a challenging market, a recent Senate hearing highlighted the potential for litigation reform to help make insurance more affordable. On May 2, 2025, Robert Gordon, a senior vice president at the American Property Casualty Insurance Association (APCIA), spoke before the Senate Committee on Banking, Housing, … Read more

Cigna Group has announced a strong financial turnaround, reporting a profit of $1.3 billion for the first quarter of 2025. This marks a significant improvement from a loss of $277 million during the same period last year. The company, based in Bloomfield, Connecticut, attributes this success to its Evernorth division, which has been performing well, … Read more

The global cyber insurance market is on track for significant growth, according to a recent report from Munich Re. The company predicts that by 2025, the market will reach around $16.3 billion in gross premiums. This growth is expected to continue, with projections indicating that the market could exceed $32 billion by 2030. In their … Read more

United Risk, part of Applied Underwriters, has announced the launch of a new multi-line reinsurance managing general agent (MGA). This new entity aims to provide specialized underwriting services in property/casualty, cyber, and credit risk. Jay Cahill, who previously served as the chief financial officer of United Risk, has been appointed as the CEO of the … Read more

Hertz has informed its customers about a data breach that has put personal information at risk, including drivers’ license numbers. The breach occurred due to a hack involving a vendor in Hertz’s supply chain, specifically an enterprise software firm called Cleo Communications US. In a notice on its website, Hertz explained that it completed an … Read more

Automobile insurance remains the leading segment in the U.S. property and casualty insurance market, a position it has held for over a decade. As of 2024, automobile insurance accounted for 41.6% of the market share, peaking at 43.4% in 2018. Following auto insurance, property insurance held 35.7%, while liability insurance made up 19.5%. Smaller segments … Read more

In a significant ruling for auto injury claims, the Georgia Court of Appeals has decided in favor of a hospital seeking payment from Progressive Mountain Insurance Company. This case centers around a minor, Elizabeth Giles, who was injured in a car accident and received treatment at AU Medical Center. The court’s decision highlights an important … Read more

Cybercrime is on the rise, and businesses are feeling the heat. A recent report highlights the growing challenges organizations face in protecting sensitive information. According to Statista, over half of U.S. companies—52%—reported losing sensitive data to cybercriminals in 2024. Alarmingly, 26% of these incidents involved business email compromises. The financial impact is staggering, with the … Read more

A 62-year-old man from Houston has pleaded guilty to laundering money from a significant bank fraud operation. William Mills admitted to being part of a scheme that spanned nearly a decade, from 2014 to 2023, involving at least $35 million in fraudulent loans. Mills worked with others to create fake loan applications. These applications included … Read more

A Texas man is taking legal action against NFL player L’Jarius Sneed after an alleged shooting incident. Christian Nshimiyimana claims that Sneed or his assistant shot at him while he was inside a luxury vehicle at a car dealership in Carrollton, Texas, on December 6. Nshimiyimana is seeking at least $1 million in damages. At … Read more