Industry News
KCC: Ian Contributed to Sizable Insured Losses Despite Mostly Average ’22 Hurricane Season
Last year, the state of Florida sustained the largest hurricane loss with Ian, with estimates of more than $100 billion in economic damage, including uninsured properties, damage to infrastructure, ...
Tech Bytes: New Partnerships at Openly, One80 Intermediaries, The Insurance Superstore
Openly, a homeowners insurance provider, and Trellis, a technology company focused on distribution of personal lines of insurance, announced a new partnership. Operating as an independent agent, ...
Bolttech Raises $196M Series B with Up-Round Valuation of $1.6B
International InsurTech bolttech announced it raised $196 million in connection with its series B with an up-round valuation of $1.6 billion. The round was led by Tokio Marine. Other key investors ...
Supreme Court Spurns Dispute Over Roundup Class-Action Settlement
The U.S. Supreme Court on Monday declined to hear a dispute involving a lawsuit against Bayer AG's Monsanto Co that could rein in a common form of settlement in class ...
AM Best: Current D&O Market Rates Could Prove Inadequate
Buyers of directors and officers liability may be getting a break from steep rate and price increases seen over the last several years, but insurance industry rating ...
J&J’s Proposed Talc Settlement Would Pay $400 Million to State AGs
Johnson & Johnson has set aside $400 million to resolve U.S. state consumer protection actions as part of its broader $8.9 billion effort to settle claims that its ...
Carrier Management, Other Wells Media Publications Awarded for Excellence
Wells Media Group publications, online, research and podcasts have won a total of nine 2023 Azbee Awards of Excellence from the American Society of Business Publication Editors ...
BI Auto Claim Severity Up 35% Over Pre-Pandemic Levels; Collision Up 40%
Claim severity for bodily injury and property damage increased by 35 percent since 2019, while collision claim severity has jumped 40 percent, LexisNexis Risk Solutions says in a new report. The data ...