Industry News
California Commissioner, Cal Poly Humboldt Working on Public Wildfire Model
California Insurance Commissioner Ricardo Lara and Cal Poly Humboldt plan to form a strategy group to undertake what Lara says will be the nation's first public wildfire catastrophe model. The plan ...
Rising Home Insurance Rates Drive Increase in Policy Shopping, Drop in Customer Satisfaction
Homeowners and renters insurance costs now exceed both the rate of inflation and the average rate increases experienced by auto insurance customers during the past year, according to the latest J.D. ...
Double-Digit U.S. Casualty Reinsurance Price Hikes Forecast
While the property-catastrophe reinsurance market is in the midst of a moderate softening phase, which will continue in 2025, double-digit price hikes for U.S. casualty reinsurance business are ...
Property Drives E&S Growth of 15% in 2023 to Increase Overall P/C Share
For the sixth straight year, U.S. excess and surplus insurers in 2023 saw double-digit growth in direct written premiums. E&S direct written premiums (DWP) grew 15 percent last year to increase ...
Buffett’s Insurance Leader Ajit Jain Sells Large Part of Berkshire Stake
Ajit Jain, the longtime top insurance executive at Warren Buffett's Berkshire Hathaway, sold more than half of his Class A shares in the conglomerate last week. According to a Wednesday night ...
Tech Bytes: New Partnerships at WTW, Cogitate, Cytora
WTW, a global advisory, broking and solutions company, announced a partnership between its Affinity Insurance business and Kayna, an insurance infrastructure platform. The partnership has been ...
Sentry Buys Nonstandard Auto Insurer The General From American Family for $1.7B
Sentry Insurance said it is buying nonstandard auto insurer The General from American Family Insurance for about $1.7 billion to mark the largest acquisition in the company's 120-year history. Sentry ...
Moody’s, Amwins Expect Continued Cyber Market Growth
Two organizations recently expressed optimism that the softening cyber market that emerged in 2023 will remain favorable into the future. In separate reports, Moody's Ratings and Amwins Brokerage ...
Cyber Attacks on U.S. Utilities Surged 70% This Year, Says Research Firm
U.S. utilities faced a near 70 percent jump in cyber attacks this year over the same period in 2023, according to data from Check Point Research, underlining the escalating ...