Industry News
Analysis: Cyber Insurers Face Large Ukraine War-Related Claims Despite Exclusions
Insurers face potential multibillion-dollar claims for cyber attacks related to Russia's invasion of Ukraine, despite policy wording designed to get them off the hook for war, industry sources say. ...
Zurich Insurance Accelerates Operational Net-Zero Target to 2030 Instead of 2050
Zurich Insurance Group announced it is bringing forward by 20 years its target to achieve net-zero emissions in its operations. It now aims to reach the goal by 2030, after implementing plans ...
Tech Bytes: New Partnerships at Pathpoint, Keller Williams, Ascend
Pathpoint, a technology provider that aims to streamline placing small commercial E&S accounts, announced a partnership with Bold Penguin to deliver access to Pathpoint's technology for ...
Property Catastrophe Reinsurers Show Greater Risk Appetites as Price Hikes Continue
Reinsurers have boosted their 2022 probable maximum loss (PML) exposures as higher prices continues to attract more capital to property-catastrophe risks, according to Moody's Investors Service. ...
Global Insurance Losses From Russia-Ukraine War Could Range From $16B to $35B
Global insurance losses from the Russia-Ukraine war could range from $16 billion to $35 billion, with reinsurers expected to assume 50 percent of those claims, according to a report published by ...
CAS Releases Additional Reports on Race and Insurance Pricing
The Casualty Actuarial Society has released two new research reports designed to guide the insurance industry toward proactive, quantitative solutions to identify, measure and address potential ...
Lloyd’s Lab Selects 11 InsurTechs to Test Decarbonization, Climate Change Solutions
The Lloyd's re/insurance marketplace announced the 11 InsurTech startups that will join the eighth cohort of the Lloyd's Lab in its 10-week program. Lloyd's Lab, the market's innovation accelerator, ...
Lexington Insurance Pulling Out of Florida, Other Markets for High-End Homes
Lexington Insurance, an AIG company, is pulling out of the Florida homeowners market, leaving an estimated 8,000 affluent customers looking for coverage. And those homeowners likely won't be able to ...