Industry News
Mutual Insurers’ Bottom Lines Reflect Impact of Inflation, Secondary Perils: AM Best
Despite notable premium growth in 2022, elevated inflation led to higher claims costs resulting in a $31 billion underwriting loss for U.S. property/casualty mutual insurance companies, according to ...
Hippo Investors Call for Strategic Review by Board, Other Actions
Members of the board of directors of InsurTech Hippo were on the receiving end of an open letter from a "concerned shareholder group," yesterday, urging board actions to preserve the value of a ...
Insurance Tech Vendors Focus More on Retaining Than Attracting Talent: Survey
A new report highlights the evolving strategies insurance technology vendors must take to attract and retain talent in a changing employment landscape, and finds that many have shifted their focus ...
The SEC’s New Disclosure Rules and Cyber, D&O Coverage
The U.S. Securities and Exchange Commission in July adopted rules that require public companies to disclose certain information about their cyber risk. The rules, originally proposed in March 2022, ...
Perils, CyberAcuView Launch U.S. Cyber Industry Loss Index
A U.S.-focused Cyber Industry Loss Index has been launched by Zurich-based Perils and CyberAcuView, an independent U.S.-based organization formed by leading cyber insurers, to keep capital flowing in ...
The Latest Launches from NEXT, Howden, McKenzie Intelligence Services
NEXT Insurance, a digital small business insurer, announced it is expanding its insurance offerings for small businesses with the launch of commercial umbrella/excess liability in 41 states and the ...
CLARA Analytics Raises $24M in Series C, Furthers AI Adoption
CLARA Analytics, a provider of artificial intelligence technology for insurance claims optimization, announced its $24 million Series C funding. This brings its total funding to $60 million. The ...
U.S. Weather Disasters Set Billion-Dollar Record With Months To Go
The deadly firestorm in Hawaii and Hurricane Idalia's watery storm surge helped push the United States to a record for the number of weather disasters that cost $1 billion or more. And there's still ...