Industry News
The U.S. Has Sustained 24 Billion-Dollar Disasters in 2024
Since 1980, there have been 400 weather and climate disasters where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2024), according to the National Centers for ...
More Than Half of All Employees in Finance, Insurance Work Remotely: Triple-I
Data as of September 24, 2024, shows that 63.7 percent of workers in Finance and Industry spend some of their time in a remote work environment. The analysis, conducted by the Triple-I, shows that ...
AIG General Insurance Underwriting Profit Falls 28% in Q3
American International Group saw third-quarter underwriting income in its general insurance segment fall 28 percent to $437 million due to higher catastrophe losses and lower favorable development on ...
Executives on the Move at Kettle, Aon, Lloyd’s
Kettle names a new chief executive officer. Aon appoints a chief underwriting officer for AUM. Lloyd's announces a change in chief people officer role. ••• Kettle, an AI-enabled insurance and ...
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal ...
Berkshire’s GEICO Turns in Strong Q3 but Overall Insurance UW Income Slips
Third-quarter underwriting income with Berkshire Hathaway's insurance units fell about $1.7 billion to $750 million due to estimated losses of about $565 million from Hurricane Helene and increases ...
Vertafore Acquires Surefyre to Expand Offerings for MGA Growth
Insurance software-as-a-service provider Vertafore said it has acquired Surefyre, a submission and underwriting platform for managing general agencies and wholesalers. The deal's financial terms were ...
‘Pivotal’ Q3 Sees InsurTech Root Achieves Net Income Profit for the First Time
For the first time in the company's history, Root Inc. recorded a quarterly net income profit. The Columbus, Ohio-based parent company of Root Insurance founded in 2015 recorded third quarter net ...