Industry News
PLUS Panelists Warn Insurers Not to Get Comfortable Riding the Cyber Rollercoaster
Jeremy Gittler, practice leader and head of Cyber Americas at AXA XL, thinks of the cyber insurance industry as a rollercoaster. He says that after several years of turbulence with the advent of more ...
Drivers Killed One Pedestrian Every 75 Minutes in H1 2022
Drivers in the United States struck and killed 3,434 people in the first half of 2022 – up 5 percent, or 168 more deaths, from the same period the year before, according to a new analysis from the ...
Progressive CEO: Early Rate Actions Helped Growth
Progressive Corp. posted full-year 2022 net income of $721.5 million, down about 78 percent from net income of $3.35 billion the prior year, due to losses in its investment portfolio. However, Chief ...
Plastic Consumption on Track to Nearly Double by 2050: Research
Plastic use in G20 countries is on course to nearly double by the middle of the century unless a comprehensive and legally binding global treaty to curb consumption is drawn up, according to research ...
Insurer Startup Trium Cyber Finds Path to Profits, With Large Business Focus
Trium Cyber is the industry's first Lloyd's-approved company to provide mono-line cyber coverage for U.S. risks. Launched in January 2023, the full-stack surplus lines insurer has joined the ranks of ...
Top CM 2023 News Story: State Farm P/C Businesses Report $13B Underwriting Loss in 2022
Late last year, State Farm's chief executive broke the news that the auto giant would record the largest underwriting loss in its 100-year history for 2022. On Monday, the news became official with a ...
Global Insurance M&A Hits 10-Year High, Despite Slowdown in H2 2022
The insurance sector saw 449 completed mergers and acquisitions (M&A) worldwide during 2022, up from 418 the previous year — the highest for a decade, according to law firm Clyde & Co's ...
Cyber Insurance Market Back From Brink After Onslaught of Ransomware Attacks
The cyber insurance market, battered by a rash of pandemic-era ransomware attacks, is making a comeback. Price hikes are moderating, new carriers and fresh sources of capital are emerging, and ...