Industry News
U.S. P/C Industry Underwriting Loss $20B+ Higher in 2022; Reserve Releases Fall
According to data compiled by AM Best, the U.S. property/casualty industry recorded a $26.5 billion net underwriting loss in 2022, $21.5 billion more than the $5 billion underwriting loss the rating ...
Lawsuit Accuses Zuckerberg, Meta of Failing to Address Sex Trafficking, Child Exploitation
A new lawsuit accuses Mark Zuckerberg and other Meta Platforms Inc. executives and directors of failing to do enough to stop sex trafficking and child sexual exploitation on Facebook and ...
U.S. Studies Ways to Insure All Bank Deposits If Crisis Grows
Officials in the U.S. are studying ways they might temporarily expand Federal Deposit Insurance Corp. coverage to all deposits, a move sought by a coalition of banks arguing that it's needed to head ...
Duperreault Joins Board of InsurTech Joyn
InsurTech Joyn Insurance announced the addition of industry veteran Brian Duperreault to its board as an independent director. Duperreault previously served as executive chairman for AIG's Board of ...
Executives on the Move at QBE NA, Gallagher, Grange
QBE North America promoted Michael Foley to president, Commercial Insurance. He will be responsible for planning, directing and executing the vision for lines of business including Middle Market, ...
‘Telematics Is a Tool’: Root CEO Details Changed Strategy for 2023; UBI Basics
As InsurTech Root focuses its attention on signing up partners for embedded insurance relationships, telematics is taking a back seat to other pricing factors. But the company launched as a ...
Louisiana Supreme Court Reverses; No Coverage Owed for COVID Shutdown
The Louisiana Supreme Court has joined state high courts across the nation in rejecting a policyholder's business interruption claim for income lost because of government restrictions imposed to slow ...
FTC Asks Social Media, Video Streaming Firms Info on Misleading Ads
The U.S. Federal Trade Commission (FTC) on Thursday issued orders to eight social media and video streaming firms including Meta Platforms Inc., Twitter, TikTok and YouTube seeking information on how ...