Markets
U.S. Drivers Divided Over Speed Cameras: Erie Insurance
Half of U.S. drivers support the use of speed cameras while more than a third oppose them, according to a recent survey commissioned by Erie Insurance. However, many opponents said they would change ...
Tesla’s Musk Predicts Fully Self-Driving Vehicle in 2022, Humanoid Robot Next Year
Tesla's most important products this year and next will not be cars, Chief Executive Elon Musk said on Wednesday, but software that drives them autonomously and a humanoid robot. The audacious ...Resilience Creates Captive Reinsurance Company
Cyber insurance and security provider Resilience Cyber Insurance Solutions announced that it has created a captive reinsurance company. Through the captive, Resilience will retain a share of each ...
Biden Administration’s Delay in Creating New Cybersecurity Board Prompts Criticism
It's a key part of President Joe Biden's plans to fight major ransomware attacks and digital espionage campaigns: creating a board of experts that would investigate major incidents to see what went ...
World’s First Crypto Mortgage? Homeowners Insurers Don’t Hate It
If homeowners insurance carriers weren't facing enough issues this year, here's one more to think about: A Miami company is now offering cryptocurrency-based mortgages. Some insurance representatives ...
P/C Industry Profits in Current Cycle Lagging Last Hard Market
U.S. property/casualty insurers have benefited from significant increases in commercial premium rates for nearly three years. However, recent industry statutory underwriting performance improvement ...
Progressive’s Q4, Full-Year Net Income Dropped Over 40%
Fourth-quarter 2021 earnings at Progressive Corp. fell 43 percent compared with the same period a year ago to $962.3 million. The results were despite the personal and commercial property insurer ...
Only 38% of 2021’s Natural Disaster Losses of $343B Were Covered by Insurance: Aon
Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon's "2021 Weather, Climate and Catastrophe Insight" report. Insured losses ...