Markets
Structure Data Boosts Understanding of Wildfire Risk: Faura CEO
Valkyrie Holmes, CEO of Faura, believes that a deep understanding of the structural qualities of buildings is crucial to insuring properties in areas at high risk for wildfires. Her company ...
Progressive ’24 Net Income More Than Doubles; Combined Ratio Below Target
Progressive reported net income of $8.5 billion for 2024, more than double the $3.9 billion figure reported for 2023, with underwriting profit coming in well below the company's annual target. ...
How Competitive Is E&S Property? Exec Views Vary
E&S property insurance market conditions were a recurring talking point on two recent earnings conference calls, but the leaders of specialty insurers offering commentary were not perfectly in ...
Everest Group Boosts Casualty Loss Reserves $1.7B
Everest Group, Ltd. pre-announced full-year 2024 earnings yesterday, disclosing about a 45 percent drop in net income attributable to a $1.7 billion boost in its casualty insurance reserves. The ...
LA Fires Could Consume 30% of European Reinsurers’ Natural Disaster Budgets: Fitch
The Los Angeles wildfires could consume more than 30 percent of the aggregate natural catastrophe budgets set for 2025 by Europe's four largest reinsurers – Swiss Re, Munich Re, Hannover Re and ...
Allstate, Arity Legal Troubles Mount; Class Action Filings Allege Privacy Violations
Allstate and its data subsidiary. Arity, are facing new legal challenges detailed in class action filings, which allege they violated federal and state privacy laws to collect driving data. Several ...
Insurance Commissioner Orders Advance Payments on Claims for LA Wildfire Survivors
California Insurance Commissioner Ricardo Lara is asking all California insurance companies to provide advance payments on claims for Los Angeles wildfire survivors. Lara's Jan. 23 order is designed ...
President Trump Proposes ‘Getting Rid of FEMA’ During Disaster Area Tour
President Donald Trump surveyed disaster zones in California and North Carolina on Friday and said he was considering "getting rid of" the Federal Emergency Management Agency, offering the latest ...