Swiss Re Posts Q3 Loss on Hit From Hurricane Ian, Signals Price Hikes
Swiss Re reported a third-quarter loss of $442 million driven by claims tied to the damage from Hurricane Ian and signaled that renewal prices would jump next ...
Industry News
Fitch Moves Outlook on Allstate’s A+ Ratings to Negative
Highlighting a sharp drop in underwriting results, declines in statutory capital and outsized additions to prior-period loss reserves, Fitch Ratings moved the rating outlook on "A+" financial ...
Customers Frustrated by Longer Auto Repair Times: J.D. Power
Customer satisfaction with the auto claims process has eroded after four consecutive years of improvement, dropping 7 points to 873 (on a 1,000-point scale) compared to ...
AXA XL Launches Innovation Office; W.R. Berkley Forms E&S Solutions Unit
AXA XL Insurance has launched an Underwriting Innovation Office in the Americas to drive innovation to support business initiatives. The Underwriting Innovation Office ...
Tesla Faces U.S. Criminal Probe Over Self-Driving Claims
Tesla Inc. is under criminal investigation in the United States over claims that the company's electric vehicles can drive themselves, three people familiar with the ...
Companies Increasingly Keep Climate Pledges Secret as ‘Green Hushing’ Takes Off
Companies are increasingly trying to keep their climate pledges away from public scrutiny.
The phenomenon, known as green hushing, has ...
New Weed Products and Firms Mean Concerns, Opportunities for Underwriters
The legalized cannabis industry is rapidly evolving, with new, chemically concocted variants popping up almost monthly. On top of that, management of marijuana and hemp ...
Viewpoint: Ranking Hurricane Ian Among the 10 Worst Natural Disasters in U.S. History
We are in the early stages of sifting through the debris of Hurricane Ian and calculating the financial and human toll it took after coming ashore in Southwest Florida ...
Global Insurance Rates Continue Rising at Slower Levels; Cyber Outpaces Other Lines
Global insurance pricing continued to rise during the third quarter, which saw commercial insurance premiums increase an average of 6 percent, down from 9 percent in Q2, ...
Insurers Say Bad Driving, Inflation Among Factors Pushing Increase in Auto Loss Ratios
Auto insurers in the U.S. are coping with the largest direct loss ratio in 20 years because of factors that include historic inflation, a deterioration in driving ...