Industry News
Cyber MGA Coalition and BDT Capital Partners Launch Bermuda Reinsurer Ferian Re
Coalition, the San Francisco-based cyber insurer and cybersecurity firm, announced the formation of Ferian Re, an independent Bermuda-based Class 3B reinsurer that will provide capacity across ...
Progressive Loses A Bundle: Nearly $2.0B Gross Ian Losses; $760M Net
Insurer Progressive incurred nearly $2.0 billion in gross loss and loss adjustment expenses for vehicle and property claims related to Hurricane Ian, sending over $1 billion of the total to ...
Many U.S. Drivers Treat Partially Automated Cars as Self-Driving: Study
Drivers using advanced driver assistance systems like Tesla Autopilot or General Motor Super Cruise often treat their vehicles as fully self-driving despite warnings, a new study has found. The ...
‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America
European reinsurers will miss their earnings targets in 2022 — for the sixth year in a row — which is pressuring the industry to raise rates and continue improving the quality of their ...
Top U.S. Homeowners Insurers Minimally Exposed to Losses From Ian: Moody’s
A report from Moody's Investors Service clearly paints Ian as a loss event for Florida-only home insurers since large, national insurers have significantly reduced exposure in the Sunshine State ...
Executives on the Move at SiriusPoint and Zurich Insurance Group
Global specialty re/insurer SiriusPoint Ltd. has named Steve Yendall as chief financial officer, effective Oct. 31, 2022. He will report to CEO Scott Egan as a member of the Executive Leadership ...
MS Amlin Appoints Carrier as CEO; Slabbert Takes Helm at MSIG Holdings
MS Amlin Underwriting Limited (MS AUL), the Lloyd's re/insurer, has appointed Andrew Carrier as chief executive officer, effective Jan. 1, 2023. Carrier currently serves as MS AUL's chief ...
How One Computer Forecast Model Botched Hurricane Ian
As Hurricane Ian bore down on Florida, normally reliable computer forecast models couldn't agree on where the killer storm would land. But government meteorologists are now figuring out what went ...