Industry News
Progressive Falling Short of CR Target; 10 More Points of Rate This Year
With loss reserve actions moving Progressive's first-quarter calendar year combined ratio up to 99, the company is tightening underwriting, cutting advertising spend and taking more rate actions, the ...
Allstate Posts Loss With ‘Exceptionally’ High Catastrophe Costs
Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses. The company reported a $342 million loss ...
Attacks on Delivery Drivers Add Fears Among Gig Workers
A homeowner fired shots at a couple's car when they mistakenly turned onto his property while making an Instacart delivery. A Florida man was charged with killing and dismembering an Uber Eats ...
ChatGPT-Related Malware on the Rise, Meta Says
Facebook owner Meta said on Wednesday it had uncovered malware purveyors leveraging public interest in ChatGPT to lure users into downloading malicious apps and browser extensions, likening the ...
Aon Realigns Leadership Around More Integrated Risk and Human Capital Capabilities
Aon has named Andy Marcell CEO of Risk Capital (Commercial Risk and Reinsurance) and Lambros Lambrou CEO of Human Capital (Health, Wealth and Talent), effective immediately. Both leaders will ...
Beazley: Business Leaders Need to Focus on Long-Term Climate Change Mitigation Plans
The future of climate change risk management is set to change due to the confluence of natural catastrophes, evolving regulation and increased media scrutiny, according to a new environmental report ...
American Financial Group to Acquire Crop Risk Services From AIG for $240M
American Financial Group Inc. and American International Group announced they have entered into a definitive agreement whereby AFG will purchase Crop Risk Services (CRS) from AIG. Under the terms of ...
Scientists Probe Sudden Spike in Ocean Temperatures
The world's oceans have suddenly spiked much hotter and well above record levels in the last few weeks, with scientists trying to figure out what it means and whether it forecasts a surge in ...