Industry News
Florida State-Run Reinsurance Plan a Bust? Only Three Sign On
After five years of tweaks to Florida's insurance and tort laws, all designed to reduce the vast amount of claims litigation and – eventually – bring down property rates, many in the industry ...
Travelers Inks Record Commercial Premium for Q1 ’23
With net written premiums for the Business Insurance segment of its book rising 14.5 percent to a $5.2 billion record level for the first quarter, Travelers posted 12 percent premium growth across ...
Snap Claims It’s Wrongly Dragged Into Social Media Addiction Suits
Snap Inc. says it can't be sued for allegedly addicting young users and contributing to a mental health crisis because its "ephemeral" messaging service is "fundamentally different" from other ...
Resolute Global Partners Launches New Type of Reinsurance Contract
Resolute Global Partners, an investment adviser specializing in insurance and reinsurance, announced the launch of "Footprint," a new type of reinsurance contract, which the firm created in ...
Russian Hackers Target Western Critical Infrastructure, UK Warns
The UK government's cyber defense agency warned on Wednesday of an emerging threat to Western critical national infrastructure posed by hackers sympathetic to Russia and its war on ...
Pro MGA Global Solutions Announces Incubation Partnership With MGA Nirvana
Pro MGA Global Solutions, the independent managing general agent (MGA) incubator, announced its incubation partnership with specialty MGA Nirvana. Nirvana is led by CEO Kabir Chanrai and Executive ...
Political Risk Became ‘Everyone’s Risk’ in 2022: WTW
Last year saw political risk transform from a low-frequency, high-severity peril into "everyone's risk," according to a new report. WTW's 2023 Political Risk Survey found that 92 percent of ...
Juul to Pay $462 Million to Six States, D.C. Over Youth Addiction Claims
E-cigarette maker Juul Labs Inc. has agreed to pay $462 million over eight years to settle claims by six U.S. states including New York and California, along with the District of Columbia, that it ...