Chad Hemenway serves as the National News Editor at Insurance Journal, bringing extensive experience as a journalist since 2000, with a focus on the insurance sector since 2007. His coverage includes trends and analysis across various insurance lines, natural catastrophes, modeling, regulation, legislation, and litigation.
Cyber Insurance and Cybersecurity Incidents
The cyber insurance landscape is constantly evolving, with insurers reassessing coverage breadth after several years of competitive pricing and capacity expansion. Cyber analytics firm CyberCube estimated that losses from the Amazon Web Services outage could exceed $580 million.
A well-known cybercrime group appears to have shifted focus to insurers, with recent cybersecurity incidents affecting Erie Insurance and Philadelphia Insurance.
Hospital operator Ascension said on Monday that it “worked around the clocked” over the weekend to handle a recent ransomware.
Financial Performance of Insurance Companies
Several major insurance companies have reported their financial results. Allstate Corp. reported third quarter 2025 net income applicable to common shareholders of about $3.7 billion, more than triple the $1.2 billion reported previously. Net income at The Hartford increased 41% to about $1.1 billion in the third quarter 2025.
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American International Group (AIG) also reported positive results, with third quarter 2025 underwriting income in its General Insurance segment increasing 81% compared with last year. AIG today said it has a definite agreement to acquire the renewal rights of Everest Group’s retail commercial.
However, not all companies experienced gains. Insurtech Lemonade reported a second quarter 2025 net loss of about $44 million compared with a loss of $57.2 million. reported a third quarter 2025 net income loss of $5.4 million after landing in the positive with $22.8...
Cyber Insurance Explained In Less Than 2 Minutes
Catastrophe Losses and Hurricane Season
Allstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events...
The National Oceanic and Atmospheric Administration is predicting an 85% chance of an above-average Atlantic hurricane season, with up to...
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Less than a month before hurricane season, the acting administrator of the Federal Emergency Management Agency has been fired. About six months after Congress passed a short-term reauthorization, the National Flood Insurance Program will soon expire-a prospect that could...
Legal and Regulatory Matters
Attorneys general in 42 states said they finalized a $700 million settlement with Johnson & Johnson over the marketing of... With recent news that Johnson & Johnson is going forward with a third bankruptcy plan of a subsidiary to settle...
The Securities and Exchange Commission and software company SolarWinds Corp. have reached a settlement, ending a federal lawsuit that...
Legal System Abuse
Can a More Unified Front Be Formed Against Legal System Abuse? The American Property Casualty Insurance Association chimed in to a recent Senate subcommittee hearing to defend the industry’s response to...
To tell the public what it spends on insurance-an amount largely affected by what it calls legal system abuse-Uber has...
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Other Industry Developments
Marsh McLennan Agency is going after a single employee, who came over in the acquisition of McGriff Insurance Services, for... Already suing the current CEO of Howden US and others, all former employees, broker Marsh has filed a new lawsuit...
Overall commercial property/casualty premiums increased slightly for all account sizes to 7.7% on average in the first quarter 2024. The property/casualty industry booked an underwriting loss of more than $20 billion...
Unless Congress reaches a compromise on funding by midnight, there will be no budget and the government will shut down-sending...
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