Markets
The Nonstandard Auto Market’s Positive Momentum Could Face Potholes From Inflation, Loss Severity Issues
Players in the U.S. nonstandard auto insurance segment may find that return to pre-pandemic norms, with greater loss-cost pressures along with elevated inflation and supply chain issues, may ...
Climate Activists Take on Insurers With Sponges, Dustpans and Petitions
A prominent activist is calling on insurers like Swiss Re to explore suing major oil companies for climate-related damages, the latest volley in a years-long campaign that pits environmentalists ...
As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best
European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally ...
MGA Startup Kettle Raises $25M, With Plans to Expand Wildfire Reinsurance Protection
Reinsurance MGA startup Kettle raised $25 million in a Series A round led by Acrew Capital, with participation from Homebrew, True Ventures, Anthemis, Valor, DCVC, and LowerCarbon Capital. The San ...
CVS, Walgreens, Walmart Found Liable in Opioid Crisis
CVS Health Corp. and Walgreens Boots Alliance Inc. helped create a public-health crisis by failing to properly monitor opioid prescriptions, the drug industry's latest loss in the expanding ...
Phillips Claims FDA’s Ventilator Safety Issues May Be Overestimated
Dutch medical equipment maker Philips on Wednesday said U.S. regulators might have overestimated the number of safety issues raised by customers related to its recall of ventilators in which a ...
PartnerRe’s Q3 Premiums Grew; Catastrophe Losses Hurt Income
PartnerRe Ltd., once again in line to be acquired by France's Covéa, finished its 2021 third quarter with large catastrophic losses, double digit premium hikes and a big drop in net income. The ...
Insurers See Victory in Infrastructure Bill’s Embrace of Marijuana Impairment Research
The $1.2 trillion infrastructure bill that became law last week earmarks billions for projects to improve safety for cars and trucks and protect properties from floods and wildfires. But one of the ...