Industry News
Vitesse Secures $93M in Series C Funding Led by KKR
Vitesse, a treasury and payment solutions provider for the insurance industry, announced the completion of a $93M Series C funding round led by global investment firm, KKR, with participation from ...
Where Commercial Lines Renewal Rate Changes Landed: July Index
Year over year, commercial auto, business owners, general liability, commercial property and umbrella experienced increasing average premium renewal rates, according to the latest monthly Ivans Index ...
Who’s Raising Homeowners Rates? S&P GMI’s Q2 2024 Analysis
According to an analysis of rate filings "disposed" by state regulators— approved or allowed by regulation—in second-quarter 2024, Liberty Mutual had the highest number of rate hikes approved in ...
First-Half Global Insured Nat Cat Losses Top 10-Year Average
Global insured losses from natural catastrophes totaled $60 billion during the first half of 2024, or 62 percent above the 10-year average, according to preliminary estimates from Swiss Re. Severe ...
With American Mobile Out, Agents Say Florida Mobile Home Insurance Falling Apart
Reinsurance in Florida's long-stressed property insurance market was supposed to have stabilized this year—with only moderate rate increases and more availability. But those calmer waters ...
Removing U.S. Subsidies Curbed Building in Climate Risk Zones, Study Finds
The U.S. Congress passed the Coastal Barrier Resources Act in 1982 to preserve relatively undeveloped waterfront areas as natural buffer zones. At least 1.4 million acres along the Atlantic and Gulf ...
Berkshire Halves Apple Stake, Boosts Cash to $277 Billion as It Gets ‘Defensive’
Warren Buffett appears to have soured on stocks, letting cash at Berkshire Hathaway soar to nearly $277 billion and selling about half its stake in Apple, even as the conglomerate posted a record ...
Guy Carpenter: ‘Kitty Cat’ CrowdStrike Outage to Cause $300M-$1B in Insured Losses
Due to the limited amount of impacted companies with insurance and the deployment of a quick fix to mitigate losses, Guy Carpenter said the insured losses from the CrowdStrike outage is likely ...