Industry News
Utility Investors Wary of Exposures After Buffett’s PacifiCorp Held Liable for Wildfires
Destructive wildfires are now an almost routine part of summer in the American West, and electrical utilities have likewise become used to having their power lines and equipment blamed for igniting ...
Workers Compensation Remains Profit Engine for U.S. P/C Insurers: AM Best
Workers compensation insurers' underwriting results continued to outpace the rest of the U.S. property/casualty commercial sector in 2022, as they benefited from the long-term decline in workplace ...
Claims InsurTech Tractable AI Raises $65M in Funding Led by SoftBank
Tractable, the London-based InsurTech that uses artificial intelligence (AI) for visual claims assessments and disaster recovery, announced a $65M Series E investment led by SoftBank Vision Fund ...
Tailored Products, Personalized Services, Affordability Desired by Policyholders: Survey
Policyholders today are zeroing in on an insurer's reputation, premium affordability, and personalized services and products when shopping for insurance coverage, according to results of a new ...
Business Leaders Appear Less Concerned by Cyber Risk: Report
The worldwide impact of cybercrime on business is predicted to balloon to $10.5 trillion by 2025, but boardroom focus on cyber risk appears to be diminishing, according to a Beazley risk and reliance ...
Reinsurance Broker Augment Launches With Access to $100M in Funding
Augment, a new Miami-headquartered reinsurance broker, announced its official launch with access of up to $100 million in funding from Altamont Capital Partners. Over the last decade, the global ...
Liberty Mutual Announces Organizational Changes, Leading to 370 US Job Losses
Liberty Mutual Insurance announced major organizational changes and executive leadership appointments, which are aimed at enhancing its personal and small commercial lines business in long-term ...
Remote Work to Wipe Out $800 Billion From Office Values, McKinsey Says
Remote work risks wiping $800 billion from the value of office buildings in major cities, highlighting the potential losses that landlords are facing from post-pandemic changes in employment ...