Buttigieg Urges U.S. Railroads to Boost Safety, Not Oppose Reforms
U.S. Transportation Secretary Pete Buttigieg said Sunday he would call on major railroads to improve safety after a Feb. 3 derailment in East Palestine, Ohio, of a train ...
Industry News
Earthquakes in Turkey to Cost Insurers $2.4B: KCC
Catastrophe modeling firm Karen Clark & Co. said it expects total property losses of close to $20 billion from the devastating earthquakes that hit Turkey earlier ...
Orderly Runoff Didn’t Work; Florida’s United P&C Now Insolvent, Headed for Liquidation
Just days after some 90,000 policies from troubled United Property & Casualty Insurance Co. were transferred to Slide Insurance as part of a wind-down of the carrier, ...
QBE Insurance Announces $1.9 Billion Loss Portfolio Transfer With Enstar
QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group's exposure to portfolio reserves totaling ...
Litigation Funders Deployed $3.2B in U.S. Investments Last Year
Companies that finance U.S. commercial lawsuits in exchange for a cut of any recoveries upped their investments last year, committing $3.2 billion, according to a new ...
Goose Insurance Closes $4M Series A Funding Round
Goose Insurance Services announced that it closed a $4 million Series A funding round led by Axis Insurance Managers, with participation from Impression Ventures, Real Ventures, and Manchester Story. ...
Tech Bytes: New Partnerships at Broker Buddha, Orion180, Cloverleaf Analytics
Broker Buddha, a client digital engagement platform for insurance agencies, announced its partnership with Herald, which builds digital infrastructure for commercial insurance. The partnership aims ...
Markets/Coverages: Brit Renews and Expands Flagship Cyber Consortium
Brit Ltd. announced the renewal and planned expansion of its leading cyber consortium, Brit Cyber Attack Plus (BCAP), a cyber product designed to protect clients from the impact of physical damage ...
AIG Sees Q4 Profit Fall but General Insurance Underwriting Jumps 27%
Fourth-quarter 2022 net income attributable to American International Group common shareholders fell to $264 million from about $3.7 billion the year prior, but the ...
Ransomware Attacks on Industrial Firms Increased by 87% in 2022
Ransomware attacks against industrial organizations increased by 87 percent in 2022 from the year before, with most malicious software targeting the manufacturing sector, ...