Personal Lines
UK Financial Firms Ordered to Prepare Readiness Plan for Possible Cyber Attacks
Many U.K. financial firms don't have a Plan B to fall back on if they're hit by a cyber attack. The Bank of England wants to change that. Financial regulators told firms to come up with a detailed ...
The Private Flood Insurance Market Grew Considerably in 2017
During 2017, the private flood insurance market expanded considerably with 50 new carriers. In total, insurers reported direct private flood insurance premiums written of $630 million—an increase ...
U.S. Flood Models Are Still in Their Infancy, So Underwriters Must Be ‘Cautious Consumers’
The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the ...
Kemper/Infinity Property and Casualty M&A Deal to Close July 2
Kemper Corp. expects to complete its $1.3 billion cash and stock acquisition of Infinity Property and Casualty Corp. on July 2. Both companies disclosed on June 28 that they have all the necessary ...
Allstate CEO Wilson Warns AI Will Slam Economy With ‘Tsunami’-Like Force
Artificial intelligence is coming for the service economy, according to Allstate Corp. Chief Executive Officer Tom Wilson. "It's going to rip through this economy like a tsunami," Wilson said ...
P/C Insurers Struggle to Match the Digital Customer Service Wizardry of Others: J.D. Power
Property/casualty insurers have a long way to go toward meeting customer expectations about their digital interactions, the new J.D. Power 2018 Insurance Digital Experience Study found. J.D. Power ...
Citigroup’s Mexico Division Will Distribute Chubb Insurance, Surety Products
Chubb and Citigroup have sealed a distribution agreement involving the sale of insurance products in Mexico. The arrangement takes place through local divisions of each company: Citigroup's ...
The Latest Launches From Allstate and Sompo International
Allstate said it has started marketing a pay-per-mile auto insurance product for New Jersey drivers. Sompo International Holdings released a new group of weather-driven risk management products for ...