Industry News
Inflation Contributes to Rising Loss Costs for U.S. Commercial P/C Insurers: Fitch
Inflation is bringing rising loss costs for U.S. commercial property/casualty insurers, according to Fitch Ratings, which reviewed reports from three U.S. insurers — Cincinnati Financial Corp., HCC ...
NICB: 2023 Was Another Record-Breaking Year for Vehicle Thefts
Vehicle thefts continue to surge nationwide, according to a new report released by the National Insurance Crime Bureau (NICB). More than one million vehicles were reported stolen, and overall vehicle ...
NAIC Adopts Climate Resilience Strategy to Close Coverage Gaps, Improve Disaster Recovery
To assist property insurers in reducing losses and speeding up recovery from natural disasters, the National Association of Insurance Commissioners' (NAIC) adopted the first-ever National Climate ...
The Risky Economics of ‘Going Bare’ Without Homeowners Insurance
Owning a home can feel like risky business, from coming up with the mortgage payment every month to worrying about disasters like fires or floods or tornadoes.
But here is ...
Zurich Insurance to Halt Coverage of New Fossil-Fuel Exposures
Zurich Insurance Group AG will no longer underwrite new oil and gas projects, and is cracking down on clients planning to expand in metallurgical coal mining. The restrictions also entail asking the ...
Florida Gets 8 New P/C Carriers After Insurance Market Reforms
Following legislative reforms designed to promote market stability, eight property and casualty insurers were approved to enter Florida's insurance market, according to Florida's Office of Insurance ...
Women Lost C-Suite Seats in Corporate America, S&P Says
Women's representation in senior-level positions at U.S. companies faces an "alarming turning point," with steady growth showing signs of fatigue for the first time in two decades, according to a new ...
Arch to Buy Allianz’s Mid-Market, Entertainment Insurance Units for $450M
Arch Capital Group's North American insurance unit said on Friday it would buy the U.S. midcorp and entertainment insurance businesses from Allianz Global Corporate and Specialty SE for $450 million ...
AXA, Amazon Team Up on Digital Commercial Risk Management Platform
AXA, a worldwide leader in insurance and asset management, and Amazon Web Services Inc. (AWS) announced they are partnering to jointly develop and build AXA Digital ...