Markets
20,000 AI Users at Travelers Prep for Innovation 2.0; Claims Call Centers Cut
Days after announcing a deal to equip 10,000 engineers and data scientists at Travelers with AI assistants, the insurance company's leader detailed "differentiating domain expertise" around data and ...
Update: Beazley Rejects Zurich Insurance’s £7.7 Billion Takeover Bid
Beazley Plc has rejected Zurich Insurance Group AG's £7.7 billion ($10.3 billion) takeover approach, the latest twist in the Swiss giant's attempt to acquire the UK specialty insurer. London-listed ...
LA Fire Survivors Got a Rude Surprise That Could Hit More Americans
A year after the Los Angeles wildfires, many survivors face the same problem: Their insurance policies aren't paying out enough to cover the cost of rebuilding. It's a tragic predicament. And it will ...
Florida OIR Triples the Size of Citizens’ Rate Decrease
With takeouts continuing at a steady pace and more carriers working the Florida property insurance market, state regulators saw fit to more than triple the size of Citizens' Property Insurance Corp. ...
Outlook on Reinsurance Has Changed; Pre-’23 Property Pricing Back: AM Best
AM Best's outlook for the global reinsurance segment is no longer positive, the rating agency announced Monday, citing the uptick in property reinsurance price drops and concerns about casualty ...
Thumbs Down on SELF DRIVE Act as Written, Says Industry Trades
Federal lawmakers have begun to discuss numerous pieces of legislation focusing on the evolving automobile industry, with legislation addressing consumer data rights, parts and repair, pedestrian ...
Zurich Makes £7.7 Billion Bid for UK Cyber Insurer Beazley
Zurich Insurance Group AG has made an offer to buy Beazley Plc, valuing the UK-listed cyber insurer at about £7.67 billion ($10.3 billion). The Swiss insurer offered to buy London-based Beazley at ...
Adjusters Launch ‘CarFax for Insurance Claims’ to Vet Carriers’ Damage Estimates
Two independent claims adjusters in the Southeast have teamed up to create what they say is a quick, low-cost way for property owners to double-check insurance carriers' damage estimates on claims. ...