Industry News
UK’s Flood Re Launches Scheme to Help Homeowners Raise Resilience Against Floods
Flood Re, the joint initiative between the UK insurance industry and the UK government to promote the availability and affordability of flood insurance, has launched a proposition designed to ensure ...
Innovation Boosts Carrier Top Lines: AM Best
Insurers with well-developed innovation initiatives have much higher levels of top-line growth than those who lag behind on the innovation curve, AM Best reported last month. In a special report ...
Everest Re Announces Passing of Chief Risk Officer, Chief Actuary Mango
Everest Re Group Ltd. has announced the passing of Don Mango, the company's chief risk officer and chief actuary. Mango's contributions to the risk management and actuarial community were widely ...
Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon
Preliminary economic losses from natural hazards during the first quarter of 2022 totaled $32 billion, of which less than 50 percent (or $14 billion), was covered by public and private insurers, ...
This Year’s Hurricane Season Likely to Be Wetter, Just Like 2020
Climate change made the 2020 Atlantic hurricane season noticeably wetter, and it will likely make this season rainier, too, scientists said. Human-caused climate change made the entire season drop ...
Familiar Securities Plaintiff Sues to Stop Berkshire’s $11.6B Deal for Alleghany
At least one shareholder of Alleghany Corp. is unhappy with the insurer's agreement to be bought by Warren Buffett's Berkshire Hathaway. According to a lawsuit filed April 13 in U.S. District Court ...
Judge Finds Tesla Liable to Black Former Worker Who Alleged Bias, but Slashes Payout
A federal judge said on Wednesday Tesla Inc. was liable to a Black elevator operator who said the electric car company ignored racial abuse at the factory where he worked but reduced a nearly $137 ...
How Warren Buffett Does a Deal: Alleghany Merger Backstory
Berkshire Hathaway didn't require Alleghany to pay any breakup fee in the event another potential acquirer topped an $11.6 billion deal price that Warren Buffett offered to CEO Joseph Brandon in ...