InsuranceEDGE | November 18, 2021 | BuildingMetrix

The U.S. Coast Guard used two helicopters to rescue campers from rising waters at an RV park on the Oregon Coast Friday, mudslides shut down roads and a woman was plucked from a swollen river as a second day of heavy rains and flooding pummeled the Pacific Northwest.

Private workers compensation insurer net written premium decreased 9.5% to $38 billion in 2020, according to the National Council on Compensation Insurance.

Hedge funds, private equity and sovereign wealth funds are piling billions into the outcome of high stakes court cases at a faster rate than ever before.

Commercial insurance buyers in North America should see relief from the hard market next year with a few lines seeing flat renewals or even decreases, according to a report from Willis Towers Watson PLC.

U.S. property/casualty insurers saw their net income jump to $37.5 billion in the 2021 first half, up from $24.3 billion the year before, as the country continued to recover from COVID-19’s economic disruption.

A majority of the expected $300 million or more in damages from a severe weather outbreak in the southern plains and Midwest Oct. 10-11 was covered by public and private insurers. The storms brought damaging winds, tornadoes and large hail.

Despite several years of price increases and corrective underwriting actions, the sector’s combined ratio for commercial auto has not been below 100.0 since 2010, according to Best’s Market report.

Oregon will likely file a claim on its one-of-a-kind wildfire insurance policy with Lloyd's of London. The policy will help pay for fighting fires that burned 225,007 acres of the 16 million acres protected by ODF.
 

Jury awards exceeding $10 million, known as nuclear verdicts, are on the rise in the trucking industry – and those decisions are making it tougher for transportation companies to stay in business.

To find out which states have the most and least expensive home insurance premiums, financial services company Bankrate gathered and analyzed 2021 rates for all zip codes and carriers.

Even as evidence mounts that prescribed burns are effective in reducing wildfire risk, the U.S. Forest Service and other agencies are falling behind.

Climate change hasn’t increased the frequency of hurricanes in the North Atlantic, but has increased the proportion of major storms — those that reach Category 3 to 5 intensity on the Saffir-Simpson scale.

As droughts across the U.S. result in large losses, leading some to question whether sustainable growing practices are needed.

Insurtech funding reached $5.3 billion in the third quarter of 2021 and has surpassed $15 billion for the year, according to a report Wednesday from Forrester Research Inc.