Industry News
The Readiness Is All: New AIG CEO Andersen Talks Industry Relevance
Eric Andersen doesn't have any more insight into what the next five years will look like than his peers, but the message he delivered to them about the industry's role in a changing world is clear: ...
IIHS Reveals Driver Protection Ratings for 9 Commercial Vehicles
The Insurance Institute for Highway Safety has released results of its first evaluations of commercial vehicles. Four of the first nine heavy-duty pickups and cargo vans to be assessed come with a ...
Extreme Weather to Drive $20 Trillion in Spending
Extreme weather will likely spur more than $20 trillion in global spending over the next decade, boosting sales and earnings for reinsurers and companies involved in energy efficiency and climate ...
USAA Not Done With Dividends: Florida Reforms Prompt $0.5B Payout
When USAA announced nearly $4 billion in policyholder dividends in December last year, the military insurer cited its financial discipline and the proactive steps of members to prevent losses among ...
Natural Disaster Insurance Gap Now Exceeds $420 Billion Globally
The value of uninsured natural catastrophe losses rose more than 7% globally last year to $424 billion, with North America the most exposed region, according to a fresh analysis. While insurance ...
Howard Hughes Holdings Completes $2.1B Acquisition of Re/insurer Vantage Group
Vantage Group Holdings Ltd., the Bermuda-based specialty re/insurer, announced it has been successfully acquired by Howard Hughes Holdings Inc. (HHH) for approximately $2.1 billion. The all-cash ...
A $10.5 Trillion Cyber Problem: Whose Risk Is It Anyway?
Does an estimated $10.5 trillion in damage costs related to cyber crime around the globe really represent an opportunity that the insurance industry should be tackling? The question came up during ...
Exclude It, Harness It, Get Greedy: McGavick’s Take on Insurers’ AI Playbook
Mike McGavick, the former chief executive of XL Group and Safeco Insurance, sees exciting possibilities ahead for AI to refocus the insurance industry on the problems it is designed to solve. But ...