Industry News
Tesla Blasts Off to Top P/C Insurance Growers Chart
While personal lines insurers reported double-digit rates of direct premiums written growth in 2023, some relative newcomers to the segment—including Tesla Insurance—saw triple-digit leaps ...
Personal Auto Driving P/C Insurers to 2024 Underwriting Profit
S&P Global Market Intelligence is forecasting a combined ratio of 99.2 for the U.S. P/C insurance industry overall in 2024, signifying a return to underwriting profitability for the first time ...
CrowdStrike Update Snafu Illustrates How SPoF Can Cause Widespread Disruption
Last week's global IT system outage, triggered by a faulty software update from CrowdStrike, caused widespread disruptions across various Windows operating system (OS) types. The faulty CrowdStrike ...
IIHS: Small SUV Rear Autobrake Test Reveal Most Perform Well
Seven out of eight small SUVs tested performed well in the Insurance Institute for Highway Safety (IIHS) rear crash prevention evaluation, which addresses low-speed backing crashes that account for a ...
Study Urges Rethinking of Disaster Management in Era of Compounding Events
A new report warns that compounding natural disasters introduce new, interconnected and complex risk scenarios — and points to a need to reimagine efforts that support disaster preparedness, ...
Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss
The Travelers Companies Inc. reported second-quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 ...
Insurers Face Business Interruption Claims After Global Tech Outage
Insurers could face a raft of business interruption claims after a worldwide tech outage crippled industries from travel to finance on Friday, insurance industry experts said. A software update by ...
KCC: Frequent SCS Activity Emphasizes Need for Latest Modeling Tech
Despite only one landfalling hurricane, 2023 wasn't a good year for property/casualty insurers, and severe convective storms (SCS) are being blamed for the bad results, according to Karen Clark & ...