Industry News
Swiss Re to Withdraw From Digital Insurer iptiQ, Reports Q1 Net Income of $1.1B
Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be ...
Carriers Focus on Renewal Retention as Auto Insurance Buyers Shop
Shoppers in the U.S. aren't ready to accept higher auto insurance rates, choosing to shop around for the best deal and coverage, a new report finds. U.S. consumer auto insurance shopping activity ...
Buffett’s Berkshire Reveals $6.7B Stake in Insurer Chubb
Warren Buffett's Berkshire Hathaway Inc. unveiled a $6.7 billion stake in insurer Chubb Ltd., ending months of suspense over its mystery position in a financial firm, previously kept concealed in ...
Patents for Sale? State Farm Reveals Website of Inventions
State Farm announced that it has launched a new website to showcase some of its patented technology, and making it available for licensing, purchase or collaboration opportunities. "State Farm is ...
Farmers to Resume Offering Key Lines of Business Insurance in California
Farmers Insurance says it will resume accepting new business commercial multi-peril applications for auto service & repair, habitational, manufacturing, real estate and wholesale distribution ...
EverPeak Launches, Offers Workers Comp for Hard-to-Place Industries
EverPeak Insurance, in partnership with an "A"-rated national carrier to provide financial backing for its policies and supported by the nationally top-rated workers comp carrier Pinnacol Assurance, ...
What Risks Do Advanced AI Models Pose in the Wrong Hands?
The Biden administration is poised to open up a new front in its effort to safeguard U.S. AI from China and Russia with preliminary plans to place guardrails around the most advanced AI models, ...
Catastrophe Bonds Use Models Underestimating Climate Risks, Investors Say
The risk models that helped drive one of the most lucrative bets of 2023 are increasingly being tested by smaller weather shocks fueled by climate change. Catastrophe bonds and other insurance-linked ...