Industry News
Average Cost of a Data Breach Has Reached an All-Time High: IBM Report
According to IBM's Cost of a Data Breach report, 2023 set an all-time high record with the global average data breach cost reaching $4.45 million, a 2.3 percent increase ...
Hospitals, Clinics in Several States Begin Recovery After Cyber Attacks
Hospitals and clinics in several states on Friday began the time-consuming process of recovering from a cyber attack that disrupted their computer systems, forcing some ...
Inflation, Catastrophe Losses Lead P&C Underwriting Loss in 2023
The overall property/casualty (P&C) industry is expected to finish 2023, mirroring 2022 results, with a net combined ratio at 102.2, according to findings shared during a members only virtual ...
Social Media Influencer Facing Riot Charges After Mayhem Breaks Loose in NYC
Social media influencer Kai Cenat is facing charges of inciting a riot and promoting an unlawful gathering in New York City, after the online streamer drew thousands of ...
Massive Citizens Takeout Plan Seen as Sign That Things Are Looking Up in Florida Market
Stakeholders near and far are hailing a record number of takeouts from Citizens' Property Insurance Corp. as a sign that the troubled Florida insurance market is ...
NEXT Insurance Launches Commercial Umbrella/Excess Liability Coverage, Expands Liquor Liability
Digital small business insurer, NEXT, announced the launch of commercial umbrella/excess liability coverage in 41 states and the expansion of liquor liability coverage in seven additional states. The ...
Car Insurance Savings App Jerry Announces $110M C2 Funding Round
Jerry, a car insurance savings app, announced its series C2 funding round, securing $110 million in equity and debt financing. The up round allowed the company to double its AI-powered services for ...
Progressive Maintains Strong Pricing/Reserving Stance Amid High Auto Costs, Catastrophe Losses
During a Q2 2023 earnings call this week, Progressive Corp. announced their earnings goals fell short of its combined ratio target of 96, as a result of catastrophe losses and increases in vehicle ...
Europeans Lack Insurance Protection as Wildfires and Drought Batter the Region
Europeans are among the least insured against certain types of extreme weather and other natural disasters in the developed world, a predicament made more worrisome as ...