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May 19
Industry News: Insurers Raise Cyber Rates Significantly Amid Costly Losses; A New Generation of Independent Agents Calls for New Hiring Tactics; U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005

Is That 18-Year-Old Driving Your Commercial Truck?

Driver shortages have led to trucking companies exploring options to recruit new drivers, but is lowering the age requirement the best option?


Tesla Bets It Can Bring Down Insurance Costs, Make Driving Safer

Tesla Insurance is offering comprehensive coverage and claim management for Tesla owners in select U.S. states, with additional states coming in the future and says they can do it cheaper.


New York Accuses Amazon of Discriminating Against Pregnant and Disabled Workers

The New York State Division of Human Rights has filed a complaint against Inc. accusing the online retailer of discriminating against pregnant and disabled workers.


Insurers Raise Cyber Rates Significantly Amid Costly Losses

Direct-written premiums collected by the largest U.S. insurance carriers in 2021 swelled by 92% year-over-year, according to information submitted to the National Association of Insurance Commissioners, an industry watchdog, and compiled by ratings firms.


Fraud Adds Billions to Insurer Disaster Payouts

According to the National Insurance Crime Bureau (NICB), property and casualty insurers paid $4.6 billion to $9.2 billion extra in disaster claims due to insurance fraud in 2021, a cost policyholders bear through their insurance premiums.


Why are US Commercial Insurance Rates Continuing to Climb?

A new report from the American Property Casualty Insurance Association (APCIA) has looked into the impact of inflationary pressures on commercial lines insurance in the US and identified three main drivers of commercial insurance rate increases.


US Auto Insurer Elephant Insurance Rocked by Cyberattack

US insurance company Elephant Insurance and its subsidiary Apparent Insurance have announced that a recent cyber incident may have exposed the personal information of its customers.

A New Generation of Independent Agents Calls for New Hiring Tactics

Younger insurance professionals are looking for meaning in their work and stellar workplace culture — not just a paycheck.


U.S. Traffic Deaths Jump 10.5% in 2021 to Highest Number Since 2005

U.S. traffic deaths jumped 10.5% in 2021 to 42,915 – the highest number killed on American roads in a single-year since 2005, U.S. regulators said Tuesday in its preliminary estimate.


Independent Agents, Brokers Continue Record Run Performance

For a fourth consecutive quarter, independent insurance agents and brokers have set yet another organic growth record.


Allianz Subsidiary Pleads Guilty to Defrauding Investors

According to a plea agreement reached with federal prosecutors in New York, Allianz Global Investors U.S. pleaded guilty to one count of securities fraud and admitted that it lacked internal controls and oversight for a series of private-investment funds and made false and misleading statements to investors.



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