Markets
Reinsurers Cautious About U.S. Regional Property Cat as Storm Losses Rise: Gallagher Re
After a costly 2023 severe convective storm season in the U.S., reinsurers underwriting in the regional property-catastrophe market are skeptical about providing frequency cover, but their overall ...
2024 Outlook on the MGA Market: Time to Normalize Difficult Conversations?
The insurance industry experienced widespread and significant tightening in the reinsurance markets in 2022. "Volatility" was the watchword as the year 2022 wound down. Reinsurers raised prices, ...
Tesla Launched Its Own Car Insurance. These Drivers Say It’s a Lemon.
In February, Mark Bova purchased a used 2018 Tesla Model S. Before leaving the dealer, he bought insurance from Tesla, finding the initial $93 monthly premium "really reasonable." Sixteen days later, ...
Details of Calif. Wildfire Plan Sketchy, but a Useful Marketing Tool for Data Vendors
A proposal by California's insurance regulator to require insurers to write more policies in areas at risk of wildfires is more a promise than a plan, but the announcement is giving data analytics ...
Mobility Trend: Consumers Prefer AV Deliveries Over Robots, Drones
With Amazon aiming to make 10,000 deliveries with drones in Europe this year and Walmart planning to expand its drone delivery services to an additional 60,000 homes this year in the states, ...
More Americans on the Road This Thanksgiving Holiday
An estimated 55.4 million travelers will head 50 miles or more from home over the Thanksgiving holiday travel period, an increase of 2.3 percent over last year and the third-highest Thanksgiving ...
U.S. Contractors, Insurers Overlooking Some Safety Improvements in Construction
Many American construction firms are failing to implement obvious and inexpensive safety measures that could save lives, reduce injuries and avoid costly insurance claims. And many insurers are not ...
Hyundai, Kia Must Face Insurers’ Lawsuits Over Vehicle Thefts
A U.S. judge rejected bids by Hyundai and Kia to dismiss litigation by several hundred insurers seeking to recoup more than $1 billion they claim to owe drivers whose vehicles were stolen or damaged ...