Industry News
Florida Insurers Are Swimming in a Sea of Red Ink: Citizens CEO Gilway
It's not just a few Florida property insurance companies that are running into financial trouble. Almost every carrier is losing money in 2021 and the future does not look any better, the CEO of ...
AXIS Capital Accelerates Its Retreat From Coal Investments and Cover
AXIS Capital Holdings Ltd. said it will phase out insurance cover and investments in the coal business globally within the next 20 years. "It is our belief at AXIS that [insurance/reinsurance] ...
Russia’s Renaissance Insurance Will Reduce IPO Size
Russia's Renaissance Insurance Group will reduce the size of its IPO to $250 million from an initial $290 million, two sources told Reuters on Wednesday, selling only new shares plus an ...
Metromile Hires Travelers Vet to Guide ‘Significant Expansion” of Independent Agent Program
Metromile, Inc. said it is pursuing "a significant expansion" of its pilot using independent agents to sell digital insurance, and it has hired a Travelers veteran to lead the effort. Scot Rankin, a ...
Business Owners Remain Overconfident About Their Ransomware Risks and Preventative Steps: Embroker
Business owners – even many technology startups - remain vastly overconfident about both their risk for ransomware attacks and insurance they have in place to prevent them, according to a new ...
Guidewire Launches Program to Connect Its Insurance Customers to Possible InsurTech Partners
Guidewire Software has launched a new program designed to connect its insurance industry customers to up-and-coming InsurTechs. Dubbed, Insurtech Vanguards, the program will highlight innovative ...
Travelers’ High Q3 Investment Returns Counter Catastrophe Loss Surge
Property and casualty insurer Travelers Cos Inc reported a drop in third-quarter profit on Tuesday that still beat estimates, as higher investment returns mainly from its non-fixed income portfolio ...
Kemper Proposes Nearly $18M Settlement in Class Action Involving Two Data Breaches
Kemper Insurance has proposed to settle a class action stemming from two data breaches in a deal valued at about $17.6 million. The dual breaches could have compromised the personal information of an ...