Industry News
Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens
Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18 percent, according to Swiss Re Institute's ...
Howden Re and TigerRisk to Create Largest Global MGA
Howden Re and TigerRisk Partners have announced the creation of a new group, Howden Tiger SabRE, comprising the existing global MGA and Program capabilities of Howden Re and TigerRisk. The new MGA ...
Executives on the Move at SageSure, Everest Insurance, R&Q
MGU SageSure has appointed John Lummis as executive vice president of Capital and Risk Management. Lummis brings more than 25 years of experience in senior executive, advisory and investment roles ...
GM’s Cruise Recalls 80 Self-Driving Cars Due to Risk of Crash
General Motors Co.'s Cruise self-driving car unit has recalled an older version of software used by its robotaxis at the time of a crash in San Francisco in June, according to federal transportation ...
Fire a Growing Risk to Shipping Because of Lithium-Ion Batteries, Allianz Says
Fire has always been a peril for shipping, but the advent of lithium-ion batteries has elevated the risk to the point that it now is the most expensive cause of loss for the industry, according to a ...
More Frequent, Expensive Cyber Attacks Spur U.S. Spending on IT
A new study from insurer Hiscox shows that cyber attacks on U.S. businesses are more frequent and more expensive than ever before. The annual Hiscox Cyber Readiness Report, which gauges businesses' ...
Hippo Cuts Staff 10 Percent; 70 Jobs Eliminated
As part of an "organizational realignment," Hippo Holdings Inc. said that it is eliminating roughly 70 jobs from the company, amounting to about 10 percent reduction of the InsurTech's overall ...
Night Blindness: Automatic Braking Systems Struggle to See in the Dark
Many of the automatic braking systems automakers are using to prevent vehicles from hitting pedestrians do not work well in the dark, according to test results released Tuesday ...
