Specialty
The Latest Launches From Berkley One, Openly and AXA XL
W.R. Berkley Corp.'s Berkley One expanded into Maryland and broadened its product offerings in other states where it does business. Openly, an InsurTech MGA focused on high-end homeowners insurance, ...
Double-Digit Rate Hikes Help Propel W.R. Berkley’s Robust Q1 Results
W.R. Berkley Corp. reported record quarterly underwriting income, double-digit premium growth and healthy rate increases in the first quarter. The commercial lines insurer and reinsurer also saw its ...
White House Unveils 100-Day Plan to Protect Power Grid From Cyber Attacks
The White House unveiled on Tuesday a 100-day plan intended to protect the U.S. power grid from cyber-attacks, mainly by creating a stronger relationship between U.S. national security agencies and ...
Brexit Hits London Worse Than Expected as Financial Firms Shift Business Elsewhere
Over 400 financial firms in Britain have shifted activities, staff and a combined trillion pounds ($1.4 trillion) in assets to hubs in the European Union due to Brexit, with more pain to come, a ...
Ex-Allianz CFO Wemmer Is Launching a SPAC to Target Insurance Deals
Dieter Wemmer, a veteran insurance executive who was chief financial officer at Allianz SE, is launching a blank-check company to target deals in the sector where he worked for more than three ...
EU Will Ban Artificial Intelligence Used for Mass Surveillance, Ranking Social Behavior
The European Union is poised to ban artificial intelligence (AI) systems used for mass surveillance or for ranking social behavior, while companies developing AI could face fines as high as 4% of ...
Hallmark Financial Will Pursue IPO of Specialty Commercial Business Segment
Hallmark Financial Services Inc, plans to pursue an IPO of its Specialty Commercial business segment. The initial public offering involves a non-controlling ownership stake in the unit, and it will ...
Cyber Coverage Profit Pressures Grow as Rate Hikes Struggle to Keep Pace: Fitch
Choosing to write cyber coverage is becoming increasingly costly for property/casualty insurance carriers and rate hikes may not be enough to make up the difference, according to a new Fitch Ratings ...