Specialty
Tokio Marine Forecasts ¥1 Trillion 2024 Profit; ‘Drastic’ Growth Ahead
In Japanese yen, the profit figure that Tokio Marine Holdings projects for 2024 is ¥1 trillion. While the forecast may seem less extraordinary in U.S. dollars of roughly $6.7 billion, either way ...
Berkshire Wary of “Fashionable’ Cyber Insurance, AI
While Berkshire Hathaway made money on its personal auto insurance business GEICO, and even on a big bet it placed on property-catastrophe reinsurance in Florida last year, one place where the ...
Newspapers Sue OpenAI for Copyright Infringement Over AI Training
A group of newspapers, including the New York Daily News and Chicago Tribune, sued Microsoft and OpenAI in New York federal court on Tuesday, accusing them of misusing reporters' work to train their ...
E&S Property In Focus: Competition Up, Price Momentum Waning
During separate earnings conference calls this week, executives of two property/casualty specialty writers—W.R. Berkley Corp. and RLI Corp.—signaled a changing E&S property insurance market. ...
‘AI Washing’ Troubles: SEC Fines Investment Firms, Issues Warnings
The U.S. Securities and Exchange Commission this week said it settled charges against two investment advisers related to "AI washing," or essentially making false claims about their use of artificial ...
Chubb’s Greenberg Defends Issuing Appeal Bond to Trump: ‘We Don’t Take Sides’
Chubb CEO Evan Greenberg, recognizing the criticism swirling around his company's involvement in recently providing Donald Trump with a $91.6 million appeal bond, penned a letter to explain. "When ...
No Need to Build Capacity in One Room: U.S. E&S Market vs. Lloyd’s
In an article published by Carrier Management, contributing author Greg Gaydos, a business development executive from Zywave, suggested that doing business with Lloyd's is an expensive proposition. ...
U.S. E&S Sector Is Booming…But Is it Too Much Business to Handle?
The excess and surplus lines and specialty insurance market is booming and looks set to continue its upward trajectory. The question is whether the sector currently has the resources to take ...