Industry News
Allstate Will Sell Its Chicago-Area HQ in Embrace of Hybrid Work Routines
Allstate Corp. plans to sell its headquarters building, marking the U.S. finance industry's firmest endorsement yet of the desire to offer hybrid work after the pandemic. With many employees choosing ...
Government Can and Should Help Reduce Cybersecurity Risks: ITC 2021 Highlights
It's no secret that cyber insurance rates keep rising into the stratosphere. But the U.S. government can take specific actions to help reduce risk and stabilize the market, a former federal official ...
Germany’s Getsafe Raises Another $63M Toward Bid to Become Full-Stack Carrier in Europe
Getsafe, a digital MGA based in Germany, raised another $63 million in funds, with plans to use the added cash to fund its own insurance license by the end of 2021 and accelerate its European ...
Nobel Laureate Argues Central Banks Lack Tools to Fight Climate Change
Central banks are at risk of over-promising on how they can respond to the challenges posed by climate change, a Nobel economics laureate whose work questions how well economic models cope with ...
Chubb Buying Cigna’s Asia-Pacific A&H, Life Businesses for $5.75B
In a deal that will expand its Asia book to $7 billion in net premiums, Chubb announced a definitive agreement to acquire some life and non-life insurance companies from Cigna in seven Asia-Pacific ...
U.S. Senators See ‘Actuarial Disaster’ on the Horizon With Flood Risk Rating 2.0
U.S. senators from coastal states are predicting "an actuarial disaster" in the future once FEMA's new flood insurance rating systems goes into full swing. In a press call on Sept. 30, Louisiana Sen. ...
Why Tesla Could Face Tough Road If It Tries to Slash $137M Racial Bias Verdict
Tesla Inc. will likely seek to slash a $137 million jury award for a Black worker who accused the automaker of racial discrimination but could have difficulty reducing the verdict amid claims that ...
Shareholder Suits Over Willis/Towers Watson Merger May Cost Insurers $80M
Seven insurers that shared the risk for directors and officers policies sold to Towers Watson may have to pay up to $80 million for settlements with shareholders who cried foul after learning that ...