Markets
State Farm Invests $1.2B in ADT; Adopts ‘Predict and Prevent’ Mindset
State Farm and ADT, a smart home provider, announced that State Farm will make a $1.2 billion equity investment in ADT, a move that will give the nation's largest insurer a 15 percent ownership stake ...
Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens
Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18 percent, according to Swiss Re Institute's ...
Howden Re and TigerRisk to Create Largest Global MGA
Howden Re and TigerRisk Partners have announced the creation of a new group, Howden Tiger SabRE, comprising the existing global MGA and Program capabilities of Howden Re and TigerRisk. The new MGA ...
Fire a Growing Risk to Shipping Because of Lithium-Ion Batteries, Allianz Says
Fire has always been a peril for shipping, but the advent of lithium-ion batteries has elevated the risk to the point that it now is the most expensive cause of loss for the industry, according to a ...
More Frequent, Expensive Cyber Attacks Spur U.S. Spending on IT
A new study from insurer Hiscox shows that cyber attacks on U.S. businesses are more frequent and more expensive than ever before. The annual Hiscox Cyber Readiness Report, which gauges businesses' ...
It’s Over: Lasting Underwriting Profits in U.S. D&O Market Unlikely, Fitch Says
Three years of soaring directors and officers liability insurance prices pushed combined ratios down to the mid-to-high 90s, but new entrants and potential claims volatility may spell trouble for ...
‘Dangerous’ 103 Degree Heat To Hit Chicago 11 Times A Year By 2100: Study
What's considered officially "dangerous heat" in coming decades will likely hit much of the world at least three times more often as climate change worsens, according to a new study. In much of ...
Night Blindness: Automatic Braking Systems Struggle to See in the Dark
Many of the automatic braking systems automakers are using to prevent vehicles from hitting pedestrians do not work well in the dark, according to test results released Tuesday by the U.S. non-profit ...