Industry News
Markel Leadership Changes, Sanders to Retire by 2024 Year End
Bryan Sanders, president of Markel's Specialty division, will retire by Dec. 31, 2024, according to an announcement made today by Markel Group Inc. In addition, effective Dec. 1, 2023, Sanders will ...
Agents Expect Looming Recession to Impact Insurance Demand: Report
Insurance agents believe an economic downturn is on the way, with nearly three-quarters of respondents to a recent survey by American Modern Insurance Group indicating they think the U.S. is likely ...
Auto Insurers’ Claims Satisfaction Scores Up Despite Long Repair Times; Amica Tops List
An auto parts shortage combined with longer cycle times for repairs has contributed to repairs taking an average of 23.1 days in 2023, up 6.2 days from 2022 and more than double the average repair ...
Canopy Connect Raises $6.5M in Series A Funding Round
Canopy Connect, a platform for collecting, verifying, and monitoring insurance information, announced it closed a $6.5M series A funding round to accelerate growth and increase product velocity. ...
The Latest Launches from Xceedance, Augment Risk
Xceedance, a global provider of strategic operations support, technology, and data services to insurance organizations, announced the launch of burst capacity catastrophe modeling resources to ...
Fla. Insurers Imposing New Limits on Amounts Spent to Match Appearance; Kentucky Clarifies Law
Matching requirements for roofs and interior furnishings have been a tough issue in the property insurance industry for years. Recent developments show how insurers and regulators in different ...
‘Urgent Need’ to Understand Single Points of Failure in Digital Supply Chains: Report
The rise of cyber risk accumulation events has highlighted the need for cyber insurers and reinsurers to understand single points of failure (SPoFs) within their customers' digital supply chains, ...
App-Based Auto Insurer Fined More Than $2M for Mishandling Claims in California
The California Department of Insurance (CDI) announced two settlement agreements with Go Maps Inc. and its insurance underwriter, Topa Insurance Company after an investigation revealed consumer ...