Industry News
Catastrophe Losses Cause CNA Financial to Miss Q2 Profit Estimates
Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty segment partially offset higher investment income. Profits at insurers ...
Hard Market Game Refuses to End: Arch Capital CEO
Drawing analogies to an epic tennis match and the hands of a clock, the leader of Bermuda-based Arch Capital declared the current hard market one of the longest the P/C industry has ever experienced. ...
Guy Carp Analysis: Cyber Cat Model Results Diverge
Significant progress has been made in advancing vendor's cyber catastrophe models, but a notable degree of variability exists across model outputs, which can pose a challenge to insurance and ...
Tips to Building, Scaling Insurance Businesses for Success
Analysis of a 2022 survey, conducted by McKinsey, finds that while new insurance business avenues can have significant impact on enterprise value, many insurers struggle to build and scale them. ...
Munich Re: Turkey Quake Contributed to $43B in H1 2023 Insurance Losses
A deadly earthquake in Turkey and Syria as well as tornadoes and hailstorms in the United States contributed to losses covered by insurance of $43 billion in the first half of 2023, Munich Re said in ...
Delaware vs. IRS: Fight Over Captive Insurers’ Data Privacy Headed to Supreme Court
The state of Delaware is going to the Supreme Court in its fight with the Internal Revenue Service over the release of information on captive insurers. This fight has placed Delaware's state ...
State Farm Seeking $1.5M From Owners of Collapsed NYC Garage
The collapse of a New York City garage in April was caused by the negligence of the owners of the building, according to their insurer, State Farm, which is suing them to recover $1.5 million in ...
Liberty Mutual Will No Longer Offer Business Owner’s Policies in California
Property and casualty insurer Liberty Mutual will stop offering its businessowners policy (BOP) product in wildfire-prone state California from Oct. 1, in a sign that cost inflation and higher ...
22 States Move to Block 3M’s $10.3 Billion PFAS Deal
A group of 22 states and U.S. territories on Wednesday moved to block a proposed $10.3 billion settlement that would resolve claims against 3M Co over water pollution ...