Industry News
AM Best: U.S. P/C Industry Suffered Second Straight Year of $20B+ Underwriting Losses in 2023
Unprofitable results in the U.S. private passenger auto and homeowners/farmowners market insurance segments led to a second straight year of net underwriting losses in the property/casualty industry ...
Workers Sue Disney, Say They Were Wrongly Induced to Move to Florida
Disney workers are suing their employer, claiming they were fraudulently induced to move from California to Florida to work in a new office campus only to have those plans later scrapped amid a fight ...
Facial Recognition Startup Clearview AI Settles Privacy Suit for $50M
Facial recognition startup Clearview AI reached a settlement Friday in an Illinois lawsuit alleging its massive photographic collection of faces violated the subjects' privacy rights, a deal that ...
Investing in Climate Resilience Really Pays Off: Study
Weather-related catastrophes are increasing in frequency and intensity, and billion-dollar disasters are becoming the norm. The U.S. averages about 10 disasters costing more than $1 billion each ...
Berkshire, Starr in Top Cyber Ranking; Global Outlook Stable: AM Best
According to industry rating agency AM Best, there are enough positive factors to give the cyber insurance market a 'stable' outlook despite a stall in premium growth. Analysts at AM Best issued a ...
Coverage Needed: New Maps Put Hundreds of Thousands in SE Flood Zones
Many more properties, including hundreds of thousands of homes across Florida and other parts of the Southeast, will be required to purchase flood insurance after July 31, due to revisions in federal ...
German InsurTech Wefox to Replace CEO After Board Rejects Mubadala Sales Plan
Wefox Holding AG is replacing Chief Executive Officer Mark Hartigan after the German insurance tech startup's board rejected a proposal by its largest stakeholder, Mubadala Investment Co., that he ...
Zurich to Buy AIG’s Travel Insurance Business for $600 Million
Zurich early Wednesday said it is purchasing the global personal travel insurance business of American International Group (AIG) for $600 million. The deal, according to Zurich, may include an ...