Industry News
Hurricane Could Blow Through Florida Cat Fund’s Reserves. But That May Be OK, Report Says
A report from Moody's Ratings service contends that one good hurricane this year could wipe out the Florida Cat Fund's reserves, potentially forcing it to place a small surcharge on Florida insurance ...
Extreme Weather Sends Insured Losses 70% Above Historical Norms
Natural catastrophes caused about $62 billion of insured losses in the first half of 2024 — roughly 70 percent above the 10-year average — as extreme wildfires, droughts and floods upend ...
New Report Outlines How Tech Is Used to Target Transportation, Logistics Sectors
In 2022, a covert practice by unscrupulous lawyers targeting insurers was uncovered by Demotech Inc., a financial analysis firm serving the property/casualty insurance sector. Demotech's research ...
IRC: Michigan No-Fault Reforms Led to More Affordable Personal Auto Insurance
Since Michigan auto insurance reforms enacted in 2019, personal auto insurance affordability has improved substantially, according to the a new report by the Insurance Research Council (IRC), a ...
Reforms Coming to Hawaii Workers Comp System
Following a rare win for injured workers this past legislative session, a Hawaii lawmaker is pushing for more reforms to the state's workers' compensation system, in an effort that has support from ...
Experts Say More Collaboration Needed for Critical Infrastructure Cyber Risk
Insurers continue to grapple with elusive and ever changing cyber risks in the critical infrastructure sector, and Matthew McCabe, managing director for Guy Carpenter's Cyber Center of Excellence, ...
Malmström Named Group CFO of Swiss Re as Dacey Retires
Swiss Re announced that Anders Malmström will succeed John Dacey as group chief financial officer as of April 1, 2025. Dacey will retire from his executive role on March 31, 2025, but will continue ...
Legacy Acquisition Specialist Enstar to Be Acquired by Sixth Street for $5.1B
Investment firm Sixth Street will acquire Enstar Group Ltd., the Bermuda-based legacy acquisition specialist, for $5.1 billion, according to Enstar in an announcement. Liberty Strategic Capital (a ...