Markets
Drenching In California: Most Homeowners Have No Flood Insurance
Last Sunday morning, Kyle Starks woke up to floodwaters that reached the door of his Jeep after yet another heavy rain storm drenched California. Emergency crews showed up with boats to float Starks ...
It’s Not Over: Tough Times to Persist for Reinsurance
Repeating words like "frustrated" and "disappointed," which also punctuated earlier reinsurance broker reports on the Jan. 1 reinsurance renewals to describe buyers' reactions, Aon suggested that the ...
Fewer Companies Are Paying Ransoms to Hackers, Researchers Say
Fewer companies that are infected with ransomware are coughing up extortion payments demanded by hackers, according to new research from Chainalysis Inc. In findings published on Thursday, the ...
Cyber and Business Interruption Top 2023 Threats: Allianz Risk Barometer
According to Allianz's Risk Barometer 2023, cyber incidents and business interruption rank as the biggest company concerns for the second year in a row. At the same time, macroeconomic developments ...
Allstate Estimates ’22 Auto Combined Ratio of 110; Frequency, Reserves Up
Allstate announced preliminary estimates of its fourth-quarter and full-year 2022 results last night, revealing a 2022 combined ratio of 110 for personal auto insurance, with reserve boosts for prior ...
InsurTech FloodFlash Officially Launches in U.S.
Parametric flood insurer FloodFlash announced that it has entered the U.S., aiming to augment the market by using its parametric technology to make flood insurance available to businesses that can't ...
Skyward Specialty Finds 2023 Is Right for IPO
Houston, Texas-based Skyward Specialty on Friday became the first U.S. company to launch an initial public offering in the 2023 calendar year, a move that CEO Andrew Robinson said will provide ...
Appeals Court Rules Insurers Not Obligated to Defend Distributor of Opioids
Westfield National Insurance Co. and Motorists Mutual Insurance Co. are not required by their insurance contracts to defend generic drug distributor Quest Pharmaceuticals against dozens of ...