Markets
As SCS Losses Grow, Demex Offers Modeled-Loss Reinsurance
Severe convective storms (SCS) have become the costliest insured peril of the 21st century, according to an Aon report published in January. This phenomenon is reshaping the property/casualty ...
What Berkshire’s CEO Abel Said About Insurance
Berkshire Hathaway's chief executive had the unusual task of reporting lower 2025 underwriting and investment income for GEICO and other insurance and reinsurance operations in his first report to ...
AI-Generated Job Ads Discriminated Against U.S. Workers, Says Civil Rights Unit
The Department of Justice (DOJ) reported it has secured a settlement agreement with a Virginia information technology services firm that is says discriminated against U.S. workers by advertising jobs ...
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates
Marine insurers are canceling war risk coverage for vessels and oil shipping rates are set to surge further after the widening Iran conflict left at least three tankers damaged, a seafarer killed and ...
State Farm Inked $1.5B Underwriting Profit for 2025; HO Loss Persists
State Farm reported an underwriting gain of $1.5 billion for its property/casualty businesses in 2025, representing a turnaround from an underwriting loss of more than $6 billion in 2024—and more ...
Hackers Used AI to Breach 600 Firewalls in Weeks, Amazon Says
Over the last five weeks, a limited number of hackers broke into more than 600 firewalls across dozens of countries with the help of widely available artificial intelligence tools, according to ...
Gas-Guzzler Revival Risks Dead-End Future for U.S. Automakers
Detroit under Donald Trump has rediscovered its love of the big, roaring engine. By gutting climate regulations, the president has freed U.S. automakers to sell as many gas-burning trucks and SUVs as ...
AI Got Beat by Traditional Models in Forecasting NYC’s Blizzard
Two days before New York's biggest snowstorm in a decade began, forecasters were still unsure how much snow would fall. One traditional U.S. model had consistently predicted a major hit, while newer ...