Industry News
Majority of Americans See Liability Insurance as the Answer to Gun Control
Could insurers be the answer to gun control? A new survey says yes. A ValuePenguin survey of nearly 2,000 Americans found that 75 percent believe gun owners should be required to purchase liability ...
Swiss Re Becomes Fourth Insurer to Leave Net Zero Group
Swiss Re is quitting the world's main climate alliance for insurers, joining a growing exodus from the coalition of some of the industry's biggest companies. The world's second-largest reinsurer is ...
Fitch Downgrades Allstate’s IFS Ratings to ‘A’
Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the financial strength ratings of Allstate P/C insurance subsidiaries to "A" (Strong) ...
Pie Insurance CEO Tells Employees During All-Hands That 14% Are Being Let Go
Late last week InsurTech Pie Insurance held an all-hands meeting during which CEO John Swigart told employees that 14 percent of them — 66 in all are being laid off. "This decision was made as part ...
Drivers Are Shopping, Swapping Auto Insurance Policies at Record Pace
Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17 percent over the same period in 2022, and a record-breaking ...
Marsh: Cyber Insurance Purchases Climb After Rocky Couple of Years
Stricter policy language, pricing increases and more scrutiny at policy inception made for a tumultuous couple of years in the cyber insurance market. Despite this, 36 percent of Marsh's clients ...
Obie Raises $25M Series B to Expand Embedded Insurance Technology
InsurTech Obie announced it has raised $25.5 million in a series B funding round led by Battery Ventures, with participation from Brick and Mortar VC, DivcoWest, and several real estate funds and ...
Aon Sues Alliant Over ‘Unlawful Raid’ of Reinsurance Group
Aon this week filed a lawsuit against rival Alliant Insurance Services for an alleged "unlawful raid" of senior leaders and other employees of Aon's facultative reinsurance group. Aon claims Alliant ...