Industry News
Markel Expects to See Runoff Certainty With Enstar’s $1.2B Adverse Development Cover
Markel Group has entered into a reinsurance runoff agreement with Enstar Group, the legacy acquisition specialist that is providing $1.2 billion of adverse development cover for underwriting years ...
AM Best: Social Inflation Drives Surge in Commercial Auto Liability Claims
According to recent report from AM Best, commercial auto liability insurance coverage has continued to bear the brunt of rising litigation costs, outpacing economic inflation. Social inflation has ...
JD Power: Total Loss Auto Claims Weigh Down Insurance Customer Satisfaction
Customer satisfaction with total loss auto insurance claims fell for a third straight year, while satisfaction improved for claims involving repairable vehicles, a new study looking at this year ...
Ransomware Attacks Rise 50% in Q3, Says NordLayer
Ransomware attacks are up more than 50% year-over-year, setting an all-time high for one network security company. NordLayer Intelligence, a threat exposure management platform, said it recorded ...
Cyber Direct Premiums Are Up but Majority of Policies Are Endorsements: NAIC
The U.S. domestic cyber insurance market has nearly tripled in size since 2020, with endorsement policies accounting for the largest share of policy counts relative to premium. The observations come ...
The Latest Launches from Cotality, CoverForce
Cotality, a property information, analytics, and workflow solutions provider, launched Cotality Supplement, a configurable workflow portal designed to streamline the property claims supplement ...
PHP Security Flaws Highlight Potential Systemic Risk Aggregation for Cyber Insurers
Recently discovered security flaws in PHP programming language, used by many websites globally, has highlighted the potential for cyber risk aggregation, which has long worried insurers and made them ...
Chubb CEO Greenberg: Industry Has to ‘Put Arms Around’ AI Liability
The insurance industry has dealt with emerging risks in the past, and Chubb CEO Evan G. Greenberg said he thinks the same approach can be applied to the rapid escalation of apparent liabilities ...