Markets
Munich Re’s Profit Slumps as It Takes $1 Billion Hit to Investment Portfolio
Munich Re's profit slumped as the reinsurer took a hit of almost $1 billion to its investment portfolio in a volatile quarter for financial markets. The Munich-based company wrote down the value of ...
Viewpoint: La. and N.Y. Appellate Courts First to Find Physical Loss From COVID-19 Shutdowns
There is a hole in the dam. Prior to June 14, every one of the 77 federal and 44 state court appellate decisions interpreting the meaning of "direct physical loss or damage" in a standard-form ...
Lemonade Records Another Q2 Loss, Changes Pace for Profitability
InsurTech Lemonade said it booked a second-quarter net loss of $67.9 million compared with a net loss of $55.6 million during the same quarter last year, but in a letter to shareholders the company ...
Majority of Young Homeowners Expect Their Homes to Be Damaged by Extreme Weather in Next 30 Years
Young homeowners are more concerned about the damage climate change-related extreme weather could do to their homes, according to a new survey from Policygenius. The survey found that 72 percent of ...
Independent Agents Place Majority of U.S. P/C Insurance: Big I
The independent agency channel places 62 percent of all property/casualty insurance written in the U.S., according to the Big "I" 2022 Market Share Report. The annual Market Share Report compiles and ...
How Should Insurers Be Thinking About Digital Privacy Post-Roe v. Wade?
The U.S. Supreme Court's June overturning of the 1973 Roe v. Wade decision protecting women's constitutional right to an abortion has brought with it reports of growing digital privacy concerns. Most ...
Pie Insurance Partners With Bold Penguin, Talage and Tarmika
InsurTech Pie Insurance, which specializes in workers comp insurance for small businesses, has formed strategic partnerships with three leading commercial insurance platforms: Bold Penguin, Talage ...
Allstate ‘Further Accelerating’ Rate Hikes Following Q2 Loss
Allstate Corp. said it is accelerating its plan to increase auto insurance rates as it reported unprofitable results for the second quarter. Allstate booked a net loss of $1.04 billion in the second ...