Industry News
Executives on the Move at Farmers, Hiscox, Swiss Re
Farmers Insurance announced that Kevin Yoo will join the organization as chief claims officer effective July 12. Yoo has an extensive insurance background, having served in senior claims roles at ...
Global Cyber Premiums Could Exceed $50B by 2030
The cyber insurance market potential is huge, with premiums likely to exceed $50 billion by 2030, according to a new report by global insurance broker Howden. With the potential to rival major ...
After Member Exodus, Insurers Seek to Ease UN Climate Alliance Rules
The remaining insurers in a United Nations-backed coalition aimed at tackling climate change are poised to loosen the alliance's membership requirements after a recent exodus of members, according to ...
Travelers Vows Changes to Golf Course After PGA Tournament’s Low Scores
Changes will be made to the TPC River Highlands after record low scoring during the recent PGA Tour's Travelers Championship, tournament officials said. Andy Bessette, Travelers' executive vice ...
GEICO to Pay $805K to Settle Overtime Wage Disputes With Claims Adjusters
Insurer GEICO has agreed to pay $805,000 total to settle class action lawsuits by claims adjusters alleging they were entitled to unpaid wages for overtime worked between May 27, 2019 and May 27, ...
Fidelis Insurance IPOs; Valued at $1.5B in Lukewarm Market Debut
Fidelis Insurance Holdings notched a valuation of $1.5 billion on Thursday after shares of the reinsurer fell 6.4 percent on debut. The company joins a list of firms that have gone public this year ...
Personal Lines Driving Premium Growth; Commercial Lags: Swiss Re Analysis
After 15 consecutive quarters of lagging premium growth in commercial lines, personal lines became the main driver again, according to a Swiss Re report released last week. According to the ...
‘Synthetic’ Agents? Lemonade Says Finance Deal Limits Cash Burn
Late last week, Lemonade announced a financial agreement to borrow 80 percent of the costs it incurs to acquire insurance customers from a venture firm. The InsurTech carrier revealed the deal in a ...