Industry News
London Marine Insurers Widen High-Risk Zone in Mideast Gulf as Conflict Escalates
London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday. Guidance from the ...
How State Farm, USAA Boost Customer Retention: Historic Dividends
While competition in personal auto insurance is rising to levels high enough to dent customer retention at GEICO, a giant mutual insurer and a reciprocal exchange have both tapped into a ...
What Berkshire’s CEO Abel Said About Insurance
Berkshire Hathaway's chief executive had the unusual task of reporting lower 2025 underwriting and investment income for GEICO and other insurance and reinsurance operations in his first report to ...
Zurich Insurance and Beazley Agree to $10.9B Cash Acquisition
Zurich Insurance Group announced it has agreed with UK specialty insurer Beazley the terms of an all-cash offer to acquire Beazley for $10.9 billion. The aggregate cash deal is expected to be funded ...
Marine Insurers Cancel War Risk Cover as Iran Conflict Escalates
Marine insurers are canceling war risk coverage for vessels and oil shipping rates are set to surge further after the widening Iran conflict left at least three tankers damaged, a seafarer killed and ...
Court Sharpens Causation Standard in All-Risk Policies in NC Church Mutual Case
In all-risk policies, an excluded cause of damage must be the sole cause of damage for the exclusion to apply, a federal appeals court decided last week in an opinion that clarifies North Carolina ...
Gas-Guzzler Revival Risks Dead-End Future for U.S. Automakers
Detroit under Donald Trump has rediscovered its love of the big, roaring engine. By gutting climate regulations, the president has freed U.S. automakers to sell as many gas-burning trucks and SUVs as ...
State Farm Mutual to Pay $5B Dividend to Auto Insurance Customers
Today, State Farm Mutual Automobile Insurance Company (State Farm Mutual) announced that a $5 billion dividend will be distributed to auto insurance customers. Recent auto insurance rate reductions ...