Industry News
Working Together to Mitigate Natural Catastrophe Risk: AM Best Webinar
Climate change is contributing to increasingly intense natural catastrophes that leave larger and larger losses in their wake. What steps can the insurance industry take to prevent losses, protect ...
Root Granted Restraining Order Against Former CMO it Says Stole About $10M
A U.S. district judge has granted a motion for a temporary restraining order requested by Root Inc. against its former chief marketing officer to prevent him, his companies or associates from selling ...
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 operated by Norfolk ...
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 this month, with about $2.4 ...
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, it was announced that UPC is ...
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 $1.9 billion. "This ...
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 report. That represents a 16 ...
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. ...