Industry News
2023 to Test Recent Growth in Private Flood Insurance Market
The private flood insurance market has been growing, but 2023 may provide a real test following Tropical Storm Hilary in California as well as future storms that may come during the remainder of the ...
Tile, Amazon Face Lawsuit From Stalking Victims Over Tracking Device Product
A tracking device called Tile may be effective in preventing its user from losing keys, a dog or a purse, but it is also a tool used by stalkers, according to two women who have filed a proposed ...
Farmers Insurance Laying Off 11% of Workforce, Citing Industry Challenges
Farmers Insurance announced it will part ways with approximately 2,400 employees — 11% of its workforce across all lines of business. "Decisions like these are never easy, and we are committed to ...
Social Media Investigations: A Winning Strategy for Insurers
GARDEN GROVE, California—If you're a plaintiff in an injury lawsuit against your insurer, you might want to ask your wife not to post videos online of you frolicking in a swimming pool. An ...
Tech Bytes: New Partnerships at Swiss Re, Insurity, Insurance Quantified
One Concern, an artificial intelligence powered physical risk company, and Swiss Re, a global reinsurance leader, announced a strategic partnership that aims to enhance the underwriting and ...
Maui Fire Victims Pursue Legal Tactic That Led to $13.5B California Settlement
Hawaii property owners are seizing on a legal shortcut used by fire victims in California to secure compensation from Hawaiian Electric Industries Inc. for damages following the fires that ravaged ...
Top 15 Non-Life Reinsurers: AM Best’s Latest Ranking
Munich Re still holds the top spot on AM Best's annual ranking of global reinsurance groups but Hannover Re took the No. 2 position in a ranking based solely on non-life reinsurance premium volume. ...
NOAA: High Tide Flooding Continues Breaking Records
Eight coastal communities along the East and West coasts reported record high tide flooding last year — a trend expected to continue in 2024, according to the National Oceanic and Atmospheric ...