Industry News
CEOs of Travelers, CNA Elected APCIA Chair, Chair-Elect
Alan Schnitzer, chair and chief executive officer of The Travelers Companies, has been elected chair of the board of directors of the American Property Casualty Insurance Association (APCIA). Dino E. ...
Tech Bytes: New Partnerships at Beazley-mShift, biBERK-First Connect, Lemonade-Chewy
Specialist insurer Beazley announced that it is joining forces with mShift, a digital platform which allows insurance professionals to quote, bind and issue multiple lines of business within the ...
Florida CFO Urges Outright Ban on AOB Agreements
In the wake of Hurricane Ian, Florida's chief financial officer has taken a hard line on insurance claims litigation, calling for an outright ban on assignments-of-benefits agreements. At a press ...
Allstate Sees Q3 Net Loss; Auto Reserve Boosts More Damaging Than Ian
Allstate expects to report a bottom-line third quarter net loss in the range of $675-$725 million and a combined ratio of 111.6, including 7.8 points from reestimates of prior year auto loss ...
Update: Amazon Launches Home Insurance Comparison Website for UK Customers
Amazon.com Inc. is launching a home insurance portal in Britain and has signed up three big-name insurers as it pushes further into financial services across the globe. Ageas UK, Co-op, and LV= ...
Requiring Citizens’ Policyholders to Also Buy Flood Insurance Could Address Problems
Problem: Less than 20% of Floridians in vulnerable areas carry flood insurance. Uninsured flood losses from Hurricane Ian are projected to be as high as $16 billion – almost half as much as insured ...
Industry Trades Respond to FIO’s Proposal to Collect Climate Change Data
Shortly after Treasury's Federal Insurance Office (FIO) proposed to have P/C insurers submit homeowners insurance underwriting data to assess climate risk, the response from industry trade ...
Business Leaders Overconfident About Cyber Threats: Beazley
Cyber remains a top concern, but business leaders may be overconfident about their resilience against the threat, according to new research from Beazley. Cyber was chosen as the No. 1 technology risk ...