Industry News
P/C Cycle Act 3: Reinsurance-Driven GL Hard Market
Comparing recent conditions in the property/casualty insurance and reinsurance markets to a three-act play, the chief executive of Arch Capital Group predicted hard casualty pricing ahead in the ...
U.S.-Led Alliance of 40 Countries Vow to Deny Ransom Payments to Cybercriminals
Forty countries in a U.S.-led alliance plan to sign a pledge never to pay ransom to cybercriminals and to work toward eliminating the hackers' funding mechanism, a senior White House official said on ...
InsurTech Hippo Lays Off 20% of Employees
InsurTech Hippo Holdings said it has "initiated an organizational realignment" by laying off about 120 employees, or 20 percent of its workforce. The company said in a filing with the U.S. Securities ...
Ending Polarization and Building Future Leaders: Travelers CEO
Challenges facing today's business leaders include keeping pace with rapid change, the leader of Travelers said recently while also going out of his way to cast light on a serious obstacle to forward ...
California Property Insurer of Last Resort Partners With ZestyAI
The California FAIR Plan Association, the state's property insurer of last resort, announced it will use climate and property analytics provider ZestyAI's Z-FIRE wildfire risk analytics product to ...
Asbestos Wrongful Death Claim Allowed Against Employer as Workers Comp Exception
A Connecticut appeals court has revived a wrongful death claim that tests a narrow exception to the state law that makes workers compensation the exclusive remedy for most workplace deaths and ...
Liberty Mutual Announces 850 Additional Layoffs
Boston-based global insurer Liberty Mutual has confirmed that it is laying off about 850 workers, or 2 percent of its workforce, in the U.S. The terminations will be felt in several departments this ...
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 ...