Industry News
UPC Reports $173M Loss for Q3, Begins Personal Lines Non-Renewals Jan. 1
The parent company of United Property & Casualty Co., already working to close up shop in Florida and other states after years of financial setbacks, reported a $173 million net loss for the ...
AI Algorithms, Return-to-Office Rules Seen Boosting ADA Claims
Technological innovations and changing work arrangements brought on by the COVID-19 pandemic are among some of the emerging issues that can make employers vulnerable to discrimination lawsuits, a top ...
Down Nearly 15%: Falling D&O Prices Becomes A Thing After Years of Hikes
Directors and officers liability pricing fell 14.7 perecent in the third quarter, according to a recent survey. Aon's Financial Services Group's Q3 2022 pricing index for the quarter ending on ...
InsurTech Otonomi Raises $3.4M to Build Parametric Cargo Platform
InsurTech Otonomi has raised $3.4 million in order to build a blockchain-powered parametric cargo platform, according to a company press release. Otonomi's CEO Yann Barbarroux, along with Co-Founder ...
Five More Years: Zaffino To Lead AIG Through 2027
On Friday, American International Group, Inc. announced that AIG and Peter Zaffino, president, chief executive officer and chair of the board, entered into an agreement securing Zaffino's employment ...
Zurich Expects $550M Hit From Hurricane Ian; Profit Targets on Track
Zurich Insurance Group expects a net $550 million pre-tax hit from Hurricane Ian, Europe's fifth-largest insurer said on Thursday, though it remains on track to beat its 2020-2022 financial targets, ...
FEMA Projects $3.5-$5.3B NFIP Losses for Hurricane Ian
On Friday, the Federal Emergency Management Agency announced an initial estimate of Hurricane Ian losses for the National Flood Insurance Program, putting them in the range of $3.5-$5.3 billion, ...
SEC Cyber, Climate Disclosure Rules May Drive Up D&O Claims
New rules proposed by the U.S. Securities and Exchange Commission on cybersecurity and climate impact disclosures may generate more lawsuits that will generate claims against directors and officers ...