Industry News
Personal Auto Insurance Competition Heating Up, Root Execs Say
Personal lines InsurTech Root reported its first-ever quarter of operating profit and first-ever gross combined ratio below 100 for first-quarter 2024 while more than doubling gross written premiums ...
Prudential to Wind Down Direct-to-Consumer Assurance Business
Less than five years after acquiring online insurance startup Assurance IQ for $2.35 billion, Prudential is shutting it down. "Prudential Financial routinely evaluates strategic opportunities for its ...
Warren Buffett’s PacifiCorp Now Faces $30B Claim Demand in Oregon Wildfires
Berkshire Hathaway Inc.'s PacifiCorp now faces a demand for $30 billion from victims of Oregon's 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the ...
As Wildfire Risk Grows, States Grapple to Retain Property Insurers
Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news — their property insurance won't be renewed because their insurance company ...
Fla. Regulators’ Effort to Remove Insurer Execs May Not Pass Constitutional Muster
Current and former leaders with Florida property insurers have had some strong reactions to state regulators' recent efforts to oust company executives who previously helmed now-insolvent carriers. ...
Q1 Global Insured Natural Disaster Losses Driven by Severe Convective Storms: Aon
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024, with economic losses rising above $45 billion, according to Aon's Q1 Global Catastrophe Recap – April 2024. ...
Hartford Q1 Income Up 41% on Commercial Lines as Auto Results Improve
The Hartford CEO Christopher Swift told analysts late last week that the insurer's first-quarter results included "progress toward restoring targeted profitability in auto" as it turned in an ...
30% of Global Business Leaders Say Political Risk Is Their Biggest Threat
Sixty-five percent of North American business leaders fear this election year will impact their ability to trade internationally, with 32 percent of U.S. leaders saying political risk is their No. 1 ...