Industry News
Global Commercial Insurance Rates Rise 9%, Continuing Moderating Trend: Marsh
Global commercial insurance prices increased 9 percent in the second quarter of 2022 (down from an 11 percent increase in Q1), continuing a trend of moderating rate increases that began in Q1 2021, ...
U.S. Crop Writers Post Record Premium Growth on Commodity Prices, Innovation: AM Best
Premiums in the federal multi-peril crop insurance (MPCI) program surged in 2021 to a record high of $14.9 billion, an increase of nearly 40 percent over the previous year, according to an AM Best ...
Washington Judge Overturns Credit Scoring Ban
A judge on Friday overturned a Washington state rule prohibiting insurers from using credit scoring to set rates for auto, homeowner and renter insurance. Insurance Commissioner Mike Kreidler adopted ...
Lemonade Lays Off Metromile Employees Immediately
Immediately after Lemonade closed its deal of Metromile on July 28, job boards lit up with news of layoffs at the acquired company. Former Metromile employees have been posting the news on LinkedIn, ...
Industry’s Blockchain Project, B3i, Ceases to Trade After Filing for Insolvency
The industry's blockchain project, B3i, has ceased activities and filed for insolvency following unsuccessful funding rounds. "The directors, following consultation with the shareholders, have ...
Judge Questions 3M’s Use of Bankruptcy to Fight Veterans’ Suits
The federal judge administering more than 230,000 lawsuits against 3M Co. questioned whether the industrial giant acted in good faith when it decided to try to shift the cases to bankruptcy court ...
Executives on the Move at USAA, AXA XL
USAA announced that Randy Termeer has been named president, Property and Casualty Insurance. Termeer joined USAA in 2017 as senior vice president and general manager of Auto Insurance. Most recently, ...
How Climate Change Drives Heatwaves and Wildfires
Brutal heatwaves gripped both Europe and the United States last week and are forecast to dump searing heat on much of China into late August. In addition to temperatures spiking above 40 Celsius (104 ...