Specialty
Global Average Annual Disaster Losses Could Surpass $200B in 10 Years: AIR Worldwide
The global insurance industry can currently expect a long-run annual average loss of $106 billion and a greater than a 40 percent chance of experiencing an annual loss of more than $200 billion in ...
Proposed Global Minimum Tax Could Lead to Double Assessment for Some Insurers: AM Best
Given the accounting differences for global insurance companies in different jurisdictions, a new global minimum tax on certain multinational companies creates the potential for double taxation for ...
InsurTechs Focused on Small Business Insurance and ‘Portable’ Benefits Raise Venture Capital
Coterie Insurance raised $50 million to help fuel a widespread launch of its digital platform for small business insurance. Allstate joined a $47 million venture capital round for Stride, an ...
Hack Attack Response: U.S. State Department to Create Cyber Bureau
The U.S. State Department plans to establish a bureau of cyberspace and digital policy in the face of a growing hacking problem, specifically a surge of ransomware attacks on U.S. infrastructure. ...
Germany to Offer COVID Insurance for Trade Fairs
The German government announced it will now be offering coverage for trade fair cancellations in a bid to restart the sector after COVID restrictions forced the meetings to go virtual. The new ...
Executives On The Move at Liberty Mutual, Zurich North America and Guy Carpenter
Liberty Mutual brought on a former Chubb executive to run its Major Accounts, Casualty, Global Risk Solutions business. An ex-executive from The Hartford joined Zurich North America as the new Head ...
W.R. Berkley Produced Average Q3 Rate Hikes Above 10 percent, Except for Workers Comp
W.R. Berkley Corp reported a nearly 24 percent increase in net premiums written during the 2021 third quarter. As well, average rate increases surpassed 10 percent for nearly every line except ...
The Hartford Chooses Garrison to Lead Its Navigators Wholesale Specialty Business
The Hartford has chosen a former Allied World and Starr Companies executive to lead its Navigators wholesale specialty insurance business. Michael Garrison will lead the strategic direction, growth, ...