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U.S. commercial insurance prices increased 6.6% in the fourth quarter 2023, with “intriguing shifts” in some coverage areas, according to a survey from broker WTW. According to the latest results from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS), carriers in … Source: Claims Journal

UnitedHealth Group Inc. services are starting to be restored more than two weeks after a cyberattack on its Change Healthcare subsidiary snarled the US health system. Some parts of the network that handle payments and medical claims will come back … Source: Claims Journal

Nancy Zailo is at the back of the line. She’s behind Jeffrey Stein, the Rite Aid Corp. chief executive collecting $300,000 paychecks every month. She’s behind consultants at Alvarez & Marsal, who have billed the pharmacy chain $75 million and … Source: Claims Journal

The frequency of claims submitted for repairable electric vehicles rose to its highest level in 2023, ending the year at 1.97% in the U.S. and 2.86% in Canada, a new report shows. Technology and information provider Mitchell International Inc. issued … Source: Claims Journal

Rhode Island took the top spot in a new study of National Highway Traffic Safety Administration data on states with the most fatal vehicle crashes involving speeding. Nearly half (46.01%) of all fatal crashes in the state were a result … Source: Claims Journal

Massive wildfires sparked by power lines used to be a California problem, one many utility executives considered safely confined to the Golden State. No more. Texas officials on Thursday blamed the state’s largest-ever fire on electrical lines sparking in dry … Source: Claims Journal

Sedgwick named David Arick to the new role of managing director, global risk management. In his new role, Arick will serve as a resource for Sedgwick’s business lines and corporate functions regarding risk identification and mitigation. He will have responsibility … Source: Claims Journal

We recently brought together thought leaders from across Moody’s to talk with the media at our 2023 Hurricane Season Recap and 2024 Outlook briefing, to provide a range of perspectives from meteorology to market impact. We looked back at the … Source: Claims Journal

Xcel Energy Inc. acknowledged that its equipment was likely involved in igniting the worst wildfire in Texas history. But the utility company refuted allegations it had acted negligently. “Based on currently available information, Xcel Energy acknowledges that its facilities appear … Source: Claims Journal

Industry rating agency AM Best said the U.S. property/casualty industry’s underwriting loss for 2023 reached a 10-year high of $38 billion, attributable to severe weather-related losses, stubborn inflation, and upward reinsurance pricing. Analysts in the report published yesterday found that … Source: Claims Journal