Industry News
Bipartisan Legislation Introduced to Retroactively Restore NFIP
Two U.S. Congressmen, one a Democrat from Louisiana and the other a Republican from Mississippi, have introduced legislation to retroactively restore the National Flood ...
Catastrophe Bonds Absorb ‘Black Swan’ Event Dealt by Melissa
A rare thing is about to happen in the $55 billion market for catastrophe bonds: a trigger event will wipe out 100% of a bond's principal. Jamaica's $150 million cat bond has been the subject of ...
Zurich Invests Heavily in Underwriting Talent to Boost Mid-Market, Specialty Growth
Zurich Insurance Group is continuing to expand its middle market and specialty footprint by investing heavily this year in targeted recruitment of "top-tier underwriting talent" across the company. ...
KCC Estimates Privately Insured Losses From Hurricane Melissa Will Hit $2.4 Billion
Catastrophe modeling company KCC estimates that privately insured losses from Hurricane Melissa will hit $2.4 billion. This estimate includes insured damages to residential, commercial, and ...
Lemonade Books Q3 Net Loss of $37.5 Million
InsurTech Lemonade reported a third-quarter 2025 net loss of about $37.5 million compared with a loss of $67.7 million a year ago during the same time. Revenue and gross profit increased 42% and ...
Making Auto Insurance Affordable: Industry Executives Celebrate Florida Reforms
During earnings conference calls this week—one on Election Day, and the other two days later—leaders of two large personal lines insurers commented on affordability issues, highlighting the ...
AXA Announces Death of Its Founder Claude Bébéar at 90
AXA announced that Claude Bébéar, its founder and honorary chairman, has passed away at the age of 90. In less than one generation, Claude Bébéar transformed "a small mutual insurance company in ...
Preliminary Hurricane Melissa Estimates Tally Insured Losses Between $1.5B-$5B
As Jamaica and Cuba continue to pick up the pieces in the aftermath of Hurricane Melissa, the third Category 5 hurricane of the 2025 Atlantic season, new insured property loss figures range between ...
Insurers Begin Restricting Privacy Coverage in Response to Evolving Risk
After several years of competitive pricing and capacity expansion, cyber insurers appear to be reassessing coverage breadth.