Industry News
Global Insurance Rates Continue to Moderate in Q1 – Except Cyber
Global commercial insurance prices rose 11% in the first quarter of 2022, marking the fifth consecutive reduction in rate increases since pricing peaked at 22% in the fourth quarter of 2020, ...
Former Sompo CEO Chang to Join WTW
Michael Chang, former CEO of Sompo International's Global Risk Solutions, will be joining WTW as head of Corporate Risk and Broking (CRB) North America, later in 2022. He will become a member of the ...
Market Conditions Holding Up Better Than Expected: Markel’s Whitt
While soaring first-quarter underwriting profits and significant investment losses may not have surprised investors in Markel Corporation, continued favorable insurance market conditions aren't quite ...
U.S. Lawmakers Push Insurers to Stop Underwriting Fossil Fuels
A group of Democratic lawmakers, mostly members of the Congressional Progressive Caucus, have asked some of the nation's biggest insurance companies to stop underwriting new fossil fuel projects that ...
Black Insurance Industry Collective Launches to Advance Racial Diversity and Equity
A new insurance industry initiative has launched to expand leadership development for Black professionals. The focus of the Black Insurance Industry Collective (BIIC) is to accelerate the advancement ...
Tech Bytes: New Partnerships at Amwins, Betterview, Socotra
Amwins, a global distributor of specialty insurance products and services, announced a partnership with ePlace Solutions to provide retail agents and their insureds with access to cybersecurity ...
Inflation Boosts W.R. Berkley Top Line to Record Level as Exposures Grow
While investment analysts continue to track commercial insurance rate hikes for property/casualty insurance carriers, exposure growth was an important contributor to a top-line record for the first ...
Chubb Posts Record Q1 P/C Underwriting Income
Chubb said first-quarter 2022 net income fell to $1.97 billion compared with $2.30 billion during the same time a year ago, but property/casualty underwriting income during the period shot up 106 ...