AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry
The recent 15-hour or so outage at Amazon Web Services (AWS) again raised questions about the potential for systemic loss to the cyber insurance market, but losses ...
Content from Chad Hemenway
Chubb Books Record P/C Underwriting Income, Combined Ratio in Q3
Insurer Chubb booked third-quarter net income 20.5 percent higher than a year ago at $2.8 billion—with record P/C underwriting income of $2.26 billion. Underwriting income was 55 percent more than ...
Travelers Q3 Net Income Soars 50% on Lower Catastrophe Losses
Third-quarter net income at The Travelers Cos. increased 50% compared with the same period a year ago, to about $1.9 billion on lower catastrophe losses. Catastrophe losses for the third quarter this ...
Can a More Unified Front Be Formed Against Legal System Abuse?
To tell the public what it spends on insurance—an amount largely affected by what it calls legal system abuse—Uber has started to provide information on ...
APCIA Chair Robusto: Industry Must Fight False Narratives, Improve Public Trust
The property/casualty insurance industry faces an urgent challenge to rebuild public trust amid growing public skepticism fueled by false narratives, according to ...
National Flood Insurance Program Once Again on the Verge of Expiration
About six months after Congress passed a short-term reauthorization, the National Flood Insurance Program (NFIP) will soon expire—a prospect that could cause coverage lapses for policyholders with ...
Insurance Industry Reps Back Reauthorization of Federal Terrorism Backstop
Marsh McLennan lost 358 employees in the terrorist attack on the World Trade Center on Sept. 11, 2001, and in Washington last week Michelle Sartain, who has worked at Marsh for more than 28 years, ...
AIG CEO Zaffino Highlights Integration of GenAI to Create Digital Twin of Business
Are two AIGs better than one? In outlining the work at American International Group (AIG) to integrate generative artificial intelligence, CEO Peter Zaffino said AIG's intent is to "create a digital ...
Former Ironshore, Lexington CEO Kevin Kelley Dies
Long-time industry leader Kevin H. Kelley has died. Kelley was last in the industry with Liberty Mutual Insurance, where he was vice chairman, Global Risk Solutions after joining the company in 2017 ...