Markets
Aclaimant Raises $15M to Expand Safety/Risk Management Software Lineup and Reach
Aclaimant nailed down $15 million, venture capital financing the safety and risk management insurance technology startup will use to fuel further product innovation, hiring, marketing, sales and ...
COVID-19 Cancels London Market Insurers’ 2020 Profits, but Rates Are Rising
Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of ...
SCOTUS Bars Class Action Lawsuit Against Facebook Under Anti-Robocall Law
The U.S. Supreme Court on Thursday barred a proposed class action lawsuit accusing Facebook Inc of violating a federal anti-robocall law, sparing the social media company from a potentially costly ...
Insurers Wary About Cryptocurrency Craze Even as Tesla Takes the Plunge
If Elon Musk's Tesla wanted to insure all of its recent $1.5 billion bitcoin investment against the myriad of pitfalls it could encounter, like hacks, theft and fraud, it would be out of luck. ...
Data-Centric Products and Services on the Rise: Study
While the majority of insurers (71 percent) have portfolios that contain data-centric products and services, many are still uncertain when it comes to what data is essential to own, what data is ...
Australia’s Floods Will Hit Insurers’ 2021 Earnings, Lead to Reinsurance Rate Spike
Insured losses from Australia's March floods are expected to hit general (or property/casualty) insurers' underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance ...
Zurich Insurance Deepens Climate Change Strategy
Zurich Insurance Group said it will be taking further, deeper steps to help curb carbon emissions in line with the Paris Agreement's goals to limit global warming. Targets will include its own ...
Bank of England Exec Warns London Should Not Blindly Adopt EU Rules
Britain should not be "short-sighted" and copy European Union rules just to keep financial activity in London, Bank of England executive director for financial stability Alex Brazier said on Monday. ...