Markets
GEICO’s ‘Eye-Popping’ 2023 Insurance Profits, Falling Employee Counts
Even though Berkshire Hathaway's latest annual report featured Warren Buffett's forecast that the days of "eye-popping performance" for the giant conglomerate are over, readers focused on ...
InsurTech Root Results Improve but Remain at a Net Loss
InsurTech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for ...
Zurich Insurance Posts Highest-Ever Operating ROE for 2023
Zurich Insurance posted a better-than-expected annual operating profit on Thursday and announced a share buyback of up to 1.1 billion Swiss francs ($1.25 billion), as insurers ...
Carrier Retention Rates Decline Due to Auto Insurance Comparison Shopping
Consumers purchasing new policies and shopping around for auto insurance in the U.S. helped carriers post positive year-over-year growth and record volumes for the final quarter of the year, ...
Unappreciated Gen AI Risks: Carbon Emissions and D&O Litigation
Hallucinations, bias, privacy infringements and intellectual property violations are some of the risks of generative AI that technology and insurance professionals have surfaced over the last year. ...
Trade Secret Insurance Could One Day Protect ‘Trillions’ in Assets
Mary Guzman already has helped develop a new insurance coverage once in her career. Now, she's leading the charge of another. In the early 2000s, when she worked as a regional practice leader at ...
How VOOM Insurance Is Driving Change in the Mobility Space
Tomer Kashi is an InsurTech founder, a former software engineer and project manager within the cybersecurity division of the Israeli Prime Minister's Office, and a self-proclaimed "tech geek." He ...
Casualty Reinsurance Renewals See Modest Price Hikes Despite Social Inflation: AM Best
Reinsurers in general maintained adequate capacity for casualty programs, despite concerns about social inflation and some recent reserve strengthening actions, according to a report from AM Best. ...