Unfavorable Reserve Development of $330M in January: Progressive
Progressive Corp. said net income for the month of January was $449.4 million compared with $25.8 million the same month in 2022 as gains on securities were $245.6 ...
Industry News
AXIS Capital Commits to Greenhouse Gas Reduction Goals
AXIS Capital Holdings Ltd. announced its commitment to a 50 percent absolute reduction of Scope 1 and 2 greenhouse gas (GHG) emissions by 2030 across its global ...
Actions vs. Talk: Is the Insurance Industry Coming Through on DEI Commitments?
Though the last five years have included events — specifically the murder of George Floyd — that prompted many company leaders to make commitments to diversity, ...
Commercial Auto InsurTech Startup OpenEyes Emerges From Stealth
OpenEyes, an InsurTech serving commercial automotive fleets, emerged from stealth on Tuesday with $18 million in Series A funding led by global software investor Insight ...
Earthquakes in Turkey to Cost Insurers More Than $1 Billion, Verisk Estimates
Economic losses for the Feb. 6, 2023, earthquakes in Turkey will likely exceed $20 billion, while insured losses will likely be more than $1 billion, according to Extreme ...
Tech Bytes: New Partnerships at Verisk, The Digital Insurer, NEXT
Verisk, a global data analytics provider, is expanding its claims ecosystem by teaming up with Tractable, an applied artificial intelligence company. By integrating with Tractable, which uses ...
AIG Moving Private Client Group High Net Worth Biz to Independent MGA
Following through on intentions to move its high net worth business to nonadmitted paper—and some to other capital providers—American International Group entered into a binding memorandum of ...
Liberty Mutual Launches Global Cyber Office
Liberty Mutual Insurance announced the formation of a Global Risk Solutions (GRS) Global Cyber Office and the appointment of a leadership team consisting of industry ...
Cinematographer’s Ukrainian Relatives Sue Baldwin Over New Mexico Set Shooting
The Ukraine-based relatives of a slain cinematographer are seeking damages in her death from actor Alec Baldwin in connection with a fatal shooting on the set of a ...
Former AXIS Capital Chairman Butt, an Industry Trailblazer, Has Died
Albert A. Benchimol, president and CEO of AXIS Capital, has issued a letter of remembrance to colleagues about Michael A. Butt, the company's former chairman and industry ...