U.S. Proposes Rules to Advance Flying Taxi Operations
The U.S. Federal Aviation Administration (FAA) has proposed new rules that would help pave the way for commercial air taxi operations by around the middle of the ...
Markets
Unsyncopated Clocks: ‘Fire and Flood’ Book Highlights Insurers’ Climate-Change Late Show
Scientists have been sounding the climate-change alarm for decades. But despite these dire warnings, a large swath of the public still refuses to believe, and both policymakers and businesses have ...
Backing Up EV Battery Reliability: Munich Re’s aiSure
The European Union is miles ahead of the U.S. in terms of adopting electric vehicles (EVs). By 2026, the number of EVs sold in the EU is expected to exceed 4.4 million ...
AI Insurance Takes a Step Toward Becoming a Market
Back when Munich Re launched the industry's first insurance coverage for artificial intelligence (AI) at the end of 2018, the policy, aiSure, found few takers. In ...
How Federato Solves Underwriters’ Problems—and Lowers Reinsurance Costs
Lower reinsurance costs aren't the most talked-about benefit of introducing AI and automation tools to the desks of property/casualty insurance underwriters, but with ...
Calif. Supreme: Unclear Policy May Require Insurer to Defend Yahoo From Privacy Lawsuits
A liability insurer may have a duty to defend Yahoo Inc. from class-action lawsuits that alleged it violated the Telephone Consumer Protection Act by sending its ...
Property-Cat Reinsurance Rates Likely to Rise by More Than 10% in January Renewals
Reinsurance rates for property-catastrophe business should increase by well over 10 percent when contracts are renewed in January 2023, according to a commentary from ...
Lloyd’s Ian Claims More Than $2B
On Friday, Lloyd's announced that claims to the Lloyd's market arising from Hurricane Ian are estimated to be in the range of $2.3 billion to $3 billion. The estimate is based on third-quarter data ...
Persistent ‘Underperformance’ at SCOR Prompts S&P Downgrade to A+
S&P Global Ratings announced that the rating agency is lowering the AA- financial strength and long-term issuer credit ratings for global reinsurer SCOR SE and its operating subsidiaries, ...
Commercial P/C Rates Up for 20th Straight Quarter: CIAB
Third-quarter 2022 marked the 20th consecutive quarter of increased premiums for commercial property/casualty, according to the latest report from the Council of ...