Industry News
Progressive Reports Favorable Ian Development
Insurer Progressive reduced its estimate of gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian by $400 million, pushing the total down to $1.6 billion. ...
Pepper and Notion Combine to Create IoT Platform Company
Consumer-focused Internet of Things platform, Pepper, and property InsurTech, Notion, announced that they have combined to create an IoT and smart home platform business that will offer insurance ...
Customer Satisfaction With Digital Claims Declines Again: J.D. Power
Customer satisfaction with insurers' digital claims systems declined for the second consecutive year, according to a J.D. Power survey of auto and home policyholders. Mark Garrett, director of P/C ...
Chubb Announces Plans for New Philadelphia Office
Chubb has announced plans for a new Philadelphia office that will occupy a state-of-the-art building to be constructed at 2000 Arch Street. Designed with the highest standards for sustainability, the ...
AXIS CEO Benchimol to Retire; Tizzio to Succeed
AXIS Capital Holdings announced that Albert A. Benchimol will step down from his role as president and chief executive officer on May 4, 2023. He will continue with AXIS as a strategic advisor and ...
Courtroom Predictions for 2023 From Clyde & Co
Insurance law firm Clyde & Co put together some predictions for 2023. The bad news for claims: nuclear verdicts aren't going anywhere. Here is that prediction as well as some others. Nuclear ...
CyberCube Gets $50M in Financing for Cyber Risk Analytics
CyberCube announced $50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors ...
Attorneys: Ransomware a Multi-Layered Risk for Policyholders
The evolution of ransomware is bringing a wider range of risks to insurance policyholders, with new government regulations, exfiltration of data and state-sponsored actors adding to the mix, ...