Industry News
McKinsey Agrees to Pay $230 Million to Settle More Opioid Suits
McKinsey & Co. is poised to pay $230 million in its latest settlement of lawsuits blaming the company for its role advising opioid manufacturers in their sales of the painkillers. The proposed ...
Paladin Cyber Rebrands as Upfort to Reflect Extended Capabilities
Paladin Cyber, a leading full-stack cybersecurity and insurance platform, has changed its corporate name to Upfort to reflect its expanded capabilities. Upfort also announced two senior hires to ...
Rising Claims Costs Limit U.S. P/C Profitability in 2023
While the profitability outlook for the U.S. P/C industry this year is mixed, Swiss Re predicts a stronger year in 2024, as premium increases and interest rates improve industry results. According to ...
James River Sells Individual Risk Workers Compensation Renewal Rights to Amynta Group
Bermuda-based James River Group Holdings Ltd. on Monday announced that some of its subsidiaries have entered into an agreement to sell the renewal rights to their Individual Risk Workers Compensation ...
Why Hurricane Costs Keep Rising Even as Building Codes Get Tougher
Despite efforts to reduce vulnerability to catastrophic weather events such as Hurricane Ian, rapid population growth and increased storm frequency have driven loss expectations even higher, ...
Lloyd’s Cyber Specialist Trium Cyber Opens London Office
Trium Cyber, a Lloyd's cyber specialist, announced that the U.S.-based company has opened a London office to write coverage for clients based outside of the U.S. "Our advanced technical underwriting, ...
Outlook on State Farm A++ Rating Now Negative: AM Best
AM Best revised the outlooks of the A++ financial strength rating and aa+ long-term issuer credit ratings of State Farm Mutual Automobile Insurance Company (State Farm Mutual) and two affiliates, the ...
The Latest Launches from CAPE Analytics, Insurity, Vouch
CAPE Analytics, an artificial intelligence powered property intelligence provider, announced the launch of an expanded hail product suite, built to provide property insurers with a comprehensive ...