Industry News
Ruling Bars Insurers From Pursuing Defendants in $4B Maui Wildfire Settlement
A Maui judge's ruling Tuesday resolves a critical roadblock to finalizing a $4 billion wildfire settlement: Insurance companies who have paid out more than $2 billion in claims can seek reimbursement ...
Catastrophe Bond Issuance Is Set to Blast Through 2023 Record
Issuance of catastrophe bonds is on track to exceed the record set in 2023, as a cocktail of climate change, population density and inflation feeds growth in a market built around natural disasters. ...
Allstate to Sell Employer Voluntary Benefits Business to StanCorp for $2 Billion
Insurer Allstate has agreed to sell its subsidiaries that provide employer voluntary benefits to StanCorp Financial Group (The Standard) in a $2 billion cash deal, the company said in a regulatory ...
Taylor Swift Cancellations Deal Blow to Insurers: Sources
Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be canceled, though several providers will share out the hit, two people involved in ...
Insured Losses From UK Riots Will Be Manageable, With Claims Below £250M: Report
Insured losses from recent riots in the United Kingdom are expected to remain at manageable levels with a limited impact on insurers' credit profiles, according to credit agency Morningstar DBRS, in ...
Liberty Mutual’s ‘Deliberate Actions’ Keep It on Path to Profit
Liberty Mutual Holding Co. continued to put 2023's losses behind it and carefully manage growth in 2024, reporting consolidated net income of $717 million for the second quarter versus a net loss of ...
Labor Market Study: 14% of Carriers Plan to Reduce Headcount
Fourteen percent of insurance companies plan to reduce employee headcount in the next year, according to numbers from Aon and The Jacobson Group's latest insurance labor market study. Jeff Rieder, ...
Hurricane Season Highlights Decline of 3-Tab Asphalt Shingles Impacting Repair, Replacement
Despite millions of U.S. households with 3-tab asphalt roof shingles, fewer manufacturers are producing them, a potential dilemma amid hurricane season. The study conducted by itel of its own ...