Industry News
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 insurer's general insurance ...
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, according to findings ...
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 million from a loss of $348 million ...
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 operations. The action is the ...
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, equity and inclusion (DEI), many ...
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 Partners and Pitango First, ...
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 Event Solutions at Verisk ...
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 ...