Personal Lines
Liberty Mutual Launches $150M VC Fund Targeting Innovative Technology
Liberty Mutual formed a new venture capital arm devoted to investments in innovative technology useful to the insurance industry. Liberty Mutual Global Consumer Markets, Liberty Mutual's personal ...
Texas Hailstorms Fueled Allstate’s $633M Pre-Tax April Catastrophe Losses
Allstate reported $633 million in estimated pre-tax catastrophe losses for April, more than half of which came from three days of severe hailstorms in Texas. After taxes, the number comes in at $411 ...
Radian CEO Ibrahim to Retire After Leading Mortgage Insurer Since 2005
Radian Group Inc., the second-largest U.S. mortgage insurer, said Chief Executive Officer S.A. Ibrahim will step down at the end of next year after steering the company through the financial crisis ...
RMS: $77B of San Francisco Property at Risk From Sea-Level Rise by 2100
By the year 2100, up to $77 billion of property in San Francisco will be at risk from sea-level rise, according to an analysis from global catastrophe risk management firm RMS. The analysis found ...
Insurance, Reinsurance CEOs Join Global Push to Weave Insurance Concepts Into Disaster Planning
A group of insurance, reinsurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and ...
New Allstate App Helps Customers Obtain Auto Repair, Maintenance Services
Allstate has teamed up with Openbay, an online marketplace for non-collision auto-repair and maintenance services, to allow consumers to obtain multiple price quotes and schedule auto repairs for ...
Takata Air Bag Part Recall Hits 14M in Expanded U.S. Effort; Disputes Remain
Japan's Takata Corp declared nearly 14 million air bag inflators defective as part of an expanded U.S. recall, but it said it considered the recall investigative, leaving the thorny question of ...
Slow 2015 Premium Growth Could Reflect ‘New Normal’ for U.S. P/C Insurers
For U.S. property/casualty insurers, net written premium still grew in 2015, but the rate of expansion is slowing, and the industry's collective combined ratio worsened slightly, according to a new ...