Markets
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry
The recent 15-hour or so outage at Amazon Web Services (AWS) again raised questions about the potential for systemic loss to the cyber insurance market, but losses from the temporary lapse in cloud ...
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
As a group, the top 50 global property/casualty insurers grew premiums by 8.3 percent in 2024, but four of them, individually, grew by more than 20 percent, including Progressive which vaulted into ...
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot
The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying ...
Inflation, Supply Chains, Tariffs: Trends Impacting Business Insurance and Claims
Inflation has been a persistent issue in the United States, though it has moderated since its peak during the COVID-19 pandemic, while supply chain disruptions for equipment and other goods continue ...
Rotting Apple: Berkley Explains Property Market, Company Appetite
Analysts trying to reconcile third-quarter premium jumps reported by line of business for W.R. Berkley Corporation with the CEO's opening remarks during an earnings conference call this week may well ...
‘Massive Legal Siege’ Against Social Media Companies Looms
Thousands of plaintiffs' complaints, millions of pages of internal documents and transcripts of countless hours of depositions are about to land in US courtrooms, threatening the future of the ...
AI-Powered Home Insurance Startup Expands in Risky Florida Market
Stand Insurance has raised $35 million in a Series B funding round to expand its artificial intelligence-powered coverage for homeowners. The company targets insurance markets deemed risky, with ...
Too Much Profit? Progressive’s Florida Results Generate Nearly $1B Q3 Charge
Progressive posted $2.6 billion in third-quarter net income last week in spite of taking a nearly $1 billion charge to account for excess profits the carrier will have to return to Florida auto ...