Markets
Travelers to Buy Cyber MGU Corvus for $435 Million
The Travelers Companies said it has agreed to buy cyber managing general underwriter Corvus Insurance Holdings Inc. for about $435 million for its middle-market excess ...
Property Insurers to Provide Data to State Insurance Regulators to Better Understand Rates
A nationwide data call was put out recently to property insurers to assist state insurance regulators in better understanding property markets, coverages and protection gaps, according to the ...
Lemonade Expects to Be in the Black Within Three Years
While Lemonade is still burning cash and reported a net loss on the bottom line of its third-quarter income statement, the InsurTech expects both situations to reverse by year-end 2026. The cash ...
State Farm: Catalytic Converter Thefts Drop
Auto claims data revealed a substantial drop in catalytic converter theft claims for the first half of this year compared to last year, according to analysis by State Farm. The most recent data for ...
Global Insurance Prices Continue to Stabilize in Q3 as U.S. Cyber Premiums Drop: Marsh
Global commercial insurance prices increased 3 percent in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index ...
Progressive in a Better Place With Reserve Boosts Done, CEO Says
Shoring up loss reserves and adding "the premium equivalent" of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The ...
P/C Cycle Act 3: Reinsurance-Driven GL Hard Market
Comparing recent conditions in the property/casualty insurance and reinsurance markets to a three-act play, the chief executive of Arch Capital Group predicted hard casualty pricing ahead in the ...
Auto Insurers’ Claims Satisfaction Scores Up Despite Long Repair Times; Amica Tops List
An auto parts shortage combined with longer cycle times for repairs has contributed to repairs taking an average of 23.1 days in 2023, up 6.2 days from 2022 and more than double the average repair ...