Global growth is slowing as U.S. tariff policy reduces trade and heightens geopolitical uncertainty. That will lead to decelerating growth in insurance premiums. According to Swiss Re, global GDP growth (adjusted for inflation) is expected to slow to 2.3% this …
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Revealing Hidden Costto Consumers of Auto Litigation Inflation
By William Nibbelin, Senior Research Actuary, Triple-I Motor vehicle tort cases in federal and state courts generated $42.8 billion in “excess value” from 2014 to 2023, according to new analysis by Triple-I. “Excess value” may sound like a good thing, but it’s not. It represents an additional cost of motor vehicle civil litigation – above…
Private Equity Firm Bain Capital to Buy UK Insurance Intermediary Jensten Group
Bain Capital, the private investment firm, announced it has signed a definitive agreement to acquire Jensten Group, the UK-based commercial insurance distribution platform, from Livingbridge, a UK mid-market private equity investor. The investment is being made by the dedicated insurance …
Uber, Lyft Drop Opposition to California Driver Union Bill
Uber Technologies Inc. and Lyft Inc. agreed to back a state-supervised way for California drivers to unionize and collectively bargain on industry-wide pay and benefit guarantees, under a new legislative deal that provides the companies relief on insurance costs. Legislative …
France and Germany Reject Trump’s Threats on EU Tech Legislation
France and Germany on Friday defended Europe’s right to adopt its own legislation on technology after U.S. President Donald Trump criticized European rules on digital services, saying any U.S. coercion would be met with retaliation. Trump on Monday threatened to …
Katrina’s Legacy: Louisiana Fortifies Itself Against the Next Storm
When Hurricane Katrina made landfall in southern Louisiana 20 years ago, the region was ill-prepared for the 125 mph winds and catastrophic flooding that would follow. Louisiana, like the rest of the United States, was still adopting modern international building …
US Farmers Are Pulling Back on Spending in Threat to Rural Economy
Sunny skies and mild temperatures this week greeted the biggest US farm show of the year. The contrast couldn’t be greater with the sentiment among attendees as low crop prices and trade tariffs squeeze the agricultural sector. The market for …
A Texas Congressman is Quietly Helping Elon Musk Pitch Building $760M Tunnels Under Houston to Ease Flooding
The devastating flooding in Houston caused by Hurricane Harvey in 2017 killed dozens of people, inundated hundreds of thousands of homes and left the community desperate for a solution. Since then, local flood experts have extensively studied the possibility of …
NOAA Develops Tool to Predict Hourly US Wildfire Hazards
Scientists at National Oceanic and Atmospheric Administration (NOAA)’s Global Systems Laboratory said it has developed an hourly assessment of wildfire potential across the U.S. The Boulder, Colorado-based lab’s Hourly Wildfire Potential (HWP) Index, in development since 2019, provides frequent updates …
The Ghost of Hurricane Katrina Haunts Catastrophe Modelers
When Hurricane Katrina slammed into New Orleans in August 2005, causing greater insurance losses than any other natural disaster in history, it became clear that a lot of the city’s flood protection engineering — walls, pumps, levees — had failed. …