Jean Eaglesham

Industry denies "bullying" tactics after getting approval for premium increases averaging 20% since last year.

Heat waves have become more intense, stunting crops and leading to worker injuries.

American International Group missed Wall Street earnings forecasts in the second quarter of this year, following elevated global catastrophe losses. The insurer’s second-quarter underwriting income of $430 million was down 28% year-on-year.

Most companies have cut back on oil, gas and coal investments after big climate-related losses. But State Farm and Berkshire Hathaway's insurance companies increased theirs.

Nearly 300,000 new properties nationwide have been built in flood-prone areas since 2019.

Storms could push up insurance costs for vehicle owners in hurricane-prone areas.

American International Group beat Wall Street earnings forecasts last quarter, on the back of increased new business and higher rates. The insurance company also benefited from relatively low losses from natural disasters, despite Hurricanes Helene and Beryl making landfall during the three-month period. “In a challenging catastrophe environment, this performance is remarkable, with industry insured losses [for 2024] expected to top the 2023 total of $125 billion,” AIG Chief Executive Peter Zaffino said.

Insurers are paving the way for investors to pour more money into Ukraine, ahead of a potential end to its grueling near-three year war with Russia. Insurance broker Aon and the European Bank for Reconstruction and Development will launch on Thursday a first-of-its-kind initiative to help revive Ukraine’s insurance market. The new facility is designed in part to help rebuild Ukraine as and when the conflict ends.

The propensity to build houses in disaster-prone areas is a big driver of the record underwriting losses roiling insurance markets, forcing rates ever upward.

Losses from storms, wind, wildfires and other natural disasters are hitting new records, battering insurance-company profits and forcing home-insurance rates ever upward. One culprit: the propensity to build in disaster-prone areas. Read more here: