Industry News
Florida to Borrow Billions to Backstop Insurers After Hurricanes
The state corporation that oversees the Florida Cat Fund is planning to borrow as much as $3.8 billion to ensure the fund has plenty of money on hand to reimburse property insurers for losses when ...
U.S. Insurers Open to More Risk and AI Use in 2024 Investments: Survey
More than half (62 percent) of U.S. insurers are willing to take on more investment risk in 2024 despite mounting concerns about election year politics, fiscal and monetary policy, as well as ...
GM Financial Rebranding OnStar Insurance as General Motors Insurance
GM Financial said it is rebranding its OnStar Insurance to General Motors Insurance, with plans for market expansion. During 2023, the GM Insurance unit shifted from an agency model to a full-stack ...
New FEMA Rules Aim to Cut the Red Tape of Disaster Recovery
Anyone who has lived through a natural disaster and then applied to the federal government for assistance knows that it can be a lengthy, frustrating and bureaucratic process. New rules announced ...
Secondary Perils Drive Global Insured Losses to Estimated $123B in 2023: Gallagher Re
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to ...
Reinsurers’ Casualty Appetites Varied, but Capacity Was ‘Ample’ During 1/1 Renewals
Reinsurers had varied appetites for casualty reinsurance during the January 2024 renewals; while capacity was sufficient, they still maintained underwriting discipline, according to reinsurance ...
Travelers’ Q4 Net Income Skyrockets as Personal Lines Reverses Underwriting Loss
Net income at The Travelers Cos. for the last quarter of 2023 about doubled compared to the same time the prior year to $1.6 billion on lower catastrophe losses and a return to profitable results in ...
Study: Buyers 45 and Under Want to Combine Car/Insurance Purchase
A new study focused on buyers 45 and younger highlights their preference for a seamless car shopping experience, combining car and insurance purchases. Polly, an embedded auto insurance provider, ...