Industry News
Should a State Surcharge Insurers That Underwrite Fossil Fuel Risks?
Connecticut lawmakers are considering imposing a surcharge on insurers' premiums from the fossil fuel industry. The proposal (SB-1115) calls for a tax of 5 percent of any premiums any insurer ...
Executives on the Move at Allianz, Sompo International, Greenlight and Mercury General
Allianz Global Corporate & Specialty SE announced that Tracy Ryan has joined its board of management as chief regions and markets officer for North America. She succeeds William Scaldaferri, who ...
Swiss Re Closes $700M Alternative Capital Deal, Enabling Growth in Favorable Market
Swiss Re has closed a $700 million multi-year stop-loss transaction with funding led by J.P. Morgan. The financing builds upon an innovative hybrid transaction concluded with J.P. Morgan in April ...
UK InsurTech Azur Group Sells Tech Services Unit to Senior Managers, Creating New Firm
UK-based InsurTech Azur Group has agreed to sell its technology services business to its senior managers, backed by prominent angel investors. The new company will be called Azur Technology and will ...
U.S. to Propose Limits on ‘Forever Chemicals’ in Drinking Water
The Environmental Protection Agency is expected to propose restrictions on harmful "forever chemicals" in drinking water after finding they are dangerous in amounts so small as to be undetectable. ...
Allstate Not Turning Up Ad Spend Yet: CFO
During an investor conference on Monday, the chief financial officer of Allstate confirmed that the company isn't ready to ramp up its marketing spend to grow its personal auto book just yet, even ...
Biden’s Cyber Plan Would Hold Software Makers Responsible in Hacks
The Biden administration is set to release an aggressive new national cybersecurity strategy on Thursday that seeks to shift the blame from companies that get hacked to software manufacturers and ...
FTX’s Crash Exposes Insurance Black Hole That Risks Impeding Crypto Sector Recovery
A long road lies ahead to repair confidence in crypto after unprecedented bankruptcies and hacks, including the major challenge of giving investors a way of insuring against such events. Stock ...