Industry News
AM Best: U.S. Cyber Insurance Segment Reflects Hard Market, Profits
Last year marked robust growth in the U.S. cyber insurance market, with direct premiums increasing by 50 percent to $7.2 billion, brought on by better underwriting and improved loss ratios, according ...
Zurich Insurance Eyes $400M Stake in India’s Kotak General Insurance
Zurich Insurance Group is in talks to buy up to 51 percent of India's Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the ...
Nationwide Taking Actions to Limit Risk in Personal, Commercial Books
Add Nationwide to a growing list of insurers making changes to deal with losses in some areas of the country. In a June 12 "business actions update" Nationwide announced moves "to mitigate risk and ...
Driver Technologies Closes $6M Strategic Funding Round
Driver Technologies Inc., an AI-based mobility tech company, announced the closing of a $6 million strategic funding round led by New York-based investment firm, IA Capital, and CT Innovations, the ...
The Latest Launches from Sproutt, Coalition
Sproutt, a life insurance company that serves agencies, agents, and their customers, announced the development of an AI engine that is currently available only to limited groups to boost its ...
J.D. Power: Biggest Auto Customer Satisfaction Drop in 20 Years
One-third (31 percent) of auto insurance customers in the U.S. reported a rate increase in the past year, leading to a growing number participating in usage-based insurance (UBI). This has led to the ...
Major Insurers Under Scrutiny by Dems on U.S. Senate Committee
Democrats on the U.S. Senate Budget Committee launched an investigation on Friday into major insurers' "support" of new fossil fuel projects, on the heels of an industry retreat from areas prone to ...
Climate Change and Homeowners Insurance Are on a Collision Course
A summer that already has seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of homeowners insurance in the ...