Industry News
AccuWeather Raises Helene Total Damage Estimates by $50B; Insured Loss Estimates Not Ready
While inland flooding complicates the picture of still-to-be-determined insured loss estimates from Hurricane Helene, a weather forecasting firm has already delivered a second estimate of total ...
Roots Automation Closes $22.2M Series B Funding Round
Roots Automation, creator of the AI-powered Digital Coworker and InsurGPT, a generative AI model for insurance, announced the closing of a $22.2 million Series B funding round. Harbert Growth ...
Marsh McLennan to Buy TIH’s McGriff Insurance for $7.75B
Marsh McLennan says it has a deal in place to acquire McGriff Insurance Services for $7.75 billion, funded by cash and debt financing. U.S. retail broker McGriff, an affiliate of private ...
Hurricane Helene Kills at Least 90, Leaves Destruction in Its Wake
The Southeastern U.S. began a huge cleanup and recovery effort on Sunday and the death toll climbed towards 100 after Hurricane Helene knocked out power for millions, destroyed roads and bridges and ...
Primary Insurers Will Absorb $5B+ Hurricane Helene Losses: Rating Agencies
In initial commentaries released a day after Hurricane Helene made U.S. landfall, AM Best and Fitch Ratings both pegged insurance industry loss totals at at least $5 billion, indicating that primary ...
Personal Auto Insurance Could Be Obsolete in 20 Years: Morningstar
Self-driving cars could make personal auto insurance largely obsolete within 20 years, according to a worst-case scenario modeled by Morningstar. A more likely, moderate scenario forecasts the line ...
Tropical Storm Helene Lashes Florida With Powerful Winds, Rain
Hurricane Helene barreled into the western coast of Florida with dangerous winds, knocking out power for more than a million customers and threatening to unleash deadly flooding across several ...
Commercial Properties in Helene’s Direct Path Identified by Moody’s
A day before Hurricane Helene was forecast to make landfall on Florida's Gulf Coast, Moody's published an interactive online map revealing 161,849 commercial properties in direct path, valued at over ...