Industry News
McKinsey to Pay at Least $500 Million in DOJ Opioid Probe
McKinsey & Co. is nearing a deal with U.S. prosecutors to pay at least $500 million to settle federal probes into its past work helping opioid makers boost sales, according to people familiar ...
Business Leaders Rushing AI Adoption Raise Concerns Over Literacy, Ethics and Preparedness: Report
As U.S. business leaders across industries increasingly rely on artificial intelligence (AI) for critical decision-making, gaps in literacy, ethical usage and organizational preparedness remain ...
Executives on the Move at Aon Reinsurance Solutions and Ryan Specialty
Insurance broker Aon plc announced the creation of two new U.S. Reinsurance Solutions leadership roles. Effectively immediately, Stephen Hofmann has been named U.S. CEO of Reinsurance Solutions for ...
90% of Insurers Have GenAI Budgets; 10% Can Fully Comply With AI Regs
Data and technology leaders at insurance organizations are gung ho about using GenAI to increase customers satisfaction, reduce operating costs and improve risk management, but few are fully ready to ...
The Latest Hurricane Milton Insured Loss Estimates: $17B-$50B
Catastrophe risk modelers delivered a wide range of estimates of insured losses from Hurricane Milton this weekâranging from a low of $17 billion to a high of $50 billion. Estimates as of Oct. 17 ...
Allstate Reports $1.7B in Q3 Pretax Catastrophe Losses, $630M For Helene
Allstate Corp. doesn't announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses. In keeping with its initiative to announce monthly ...
Travelers Triples Q3 Net Income, Reverses Underwriting Loss
Travelers on Thursday said third-quarter net income was $1.26 billion compared to net income of $454 million during the same period a year ago on record net premiums, favorable prior year reserve ...
The Data Behind Rising Homeowners Premiums: By Peril and By State
The U.S. home insurance industry has experienced an upward trend in all-peril loss costs over the past seven years, according to a new report released by LexisNexis Risk Solutions. The ninth annual ...