Industry News
Global Insured Nat Cat Losses Top $100B for Fourth Straight Year: Swiss Re
Global insured losses from natural catastrophes in 2023 exceeded $100 billion for the fourth consecutive year — an indication of the new norm for nat cat losses, according to Swiss Re. Other ...
CCC: Vehicle Complexity, Rising Labor Costs, Shortages Pressure Carriers
Despite safer vehicles on the road with technology that aids in avoiding crashes, the advanced technology is contributing to costlier repairs, higher claims costs and longer cycle times, according to ...
Ahem. Results for the U.S. P/C Industry Improved ‘Slightly’ in 2023
A new report from AM Best reveals that the U.S. property/casualty industry recorded a $21.2 billion net underwriting loss in 2023, slightly improved from a $24.9 billion underwriting loss recorded in ...
Worst Is Over: Most of Casualty Reserve Hole May Be Filled, Analyst Says
Predictions that the property/casualty insurance industry is in the midst of repeating the type of loss reserving cycle that accompanied the hard market of the beginning year of this century may be ...
What Industry Executives Are Saying About Loss Reserves, Social Inflation
At carriers and reinsurers that announced reserve loss charges taken during fourth-quarter 2023, and even at some that did not, executives discussed the "problematic accident years" and lines of ...
Survey: Tech, Data Privacy, Climate are Just Some of the Complex Issues Carriers Face
Social inflation, hybrid work arrangements, regulatory changes and technological advances are just some of the challenges facing carriers today, according to a new report by Gallagher Bassett. ...
The Latest Launches From Rainbow, Blink, Hub
Rainbow, a digitally-enabled managing general underwriter building tailored small business insurance products, announced the launch of its admitted restaurant insurance program in the state of ...
Small Business InsurTech Coterie Announces $27M Funding Round
Coterie, an InsurTech managing general agent focused on small business insurance, announced a raise of $27 million in new capital investment. The oversubscribed round includes new investment from ...