Industry News
Climate Change Worsened Extreme Weather Across the Globe in 2021
Extreme weather events in 2021 shattered records around the globe. Hundreds died in storms and heatwaves. Farmers struggled with drought, and in some cases with locust plagues. Wildfires set new ...
Insurance Professionals Want Industry to Act on Climate Change: Study
A recent survey of insurance employees and risk management students found that the majority are deeply concerned about climate change and want the industry to address it. In fact, 59 percent of ...
Generali Links With Accenture, Vodafone to Provide Cyber Insurance Services
Generali has joined forces with Accenture and Vodafone Business to create a package of cyber insurance services for corporate and small and medium-sized enterprise (SME) clients. The services include ...
MAPFRE to Make Nearly $984M Payout Over Controversial Columbia Dam
Spanish insurer Mapfre on Friday signed a contract to make a $983.8 million contingency payout to Colombia's Empresas Publicas de Medellin (EPM) over issues with the construction of the massive ...
Wells Media Group Transitions Ownership to Its Employees
Wells Media Group Inc announced that it has become a 100 percent employee-owned firm via the launch of an Employee Stock Ownership Plan (ESOP). Wells Media, the publisher of Insurance Journal, ...
Toyota Starts Offering Auto Cover With Farmers-Owned Toggle in 5 States
Automaker Toyota's insurance arm has begun selling its first branded insurance coverage, Toyota Auto Insurance, in Arizona, Illinois, Indiana, Ohio and South Carolina, and will soon be offering the ...
Insurance Rates Soar to Cover M&A Boom, Deal or Not
The cost of insurance to cover problems involving M&A has nearly doubled in just two years, underwriters and brokers said, after an explosion of global dealmaking during the COVID-19 pandemic. ...
Half of $17B Litigation Funding ‘Industry’ Money Spent in the U.S.: Swiss Re
Litigation funding has become a $17 billion industry globally, with 52 percent of that money being spent in the United States, Swiss Re said in a report released Thursday. The reinsurer said ...