Industry News
Homeowners Insurers Still Boosting Rates; Top Carriers Ranked: AM Best
Last year's sub-100 combined ratio for the homeowners line broke a five-year string of 100-plus figures for the U.S. insurance industry in aggregate—and homeowners insurers are sticking to rate ...
Mercury Insurance and Safeco Insurance to Transition California Customers and Agents
Mercury Insurance is partnering with Liberty Mutual Insurance on a plan to provide coverage for thousands of California Safeco Insurance customers impacted by a shift in Liberty Mutual's California ...
InsurTech Investment Hits $60B Milestone But Pales AI Figures
Artificial intelligence is quickly reshaping the insurance landscape, and Gallagher Re's global head of InsurTech, Andrew Johnston, warned in the company's latest Global InsurTech Report that this ...
Global Insured Losses From Natural Disasters Could Top $150B in 2025: Swiss Re Report
Global insured losses from natural catastrophes hit $80 billion in the first half of 2025, which is almost double the 10-year average between 2015 and 2024 and marks the fifth year in succession when ...
Hiscox Agrees to Acquire U.S. Specialist InsurTech
Global specialist insurer Hiscox announced its agreement to acquire a specialist InsurTech business focused on addressing the insurance needs of small businesses operating in sectors such as ...
Lemonade Posts Another Quarterly Loss but Car Growth Continues
InsurTech Lemonade reported a second-quarter 2025 net loss of about $44 million compared with a loss of $57.2 million a year ago during the same time. Though still a loss, it was a 23 percent ...
United Risk Acquires Verita CSG From WTW; Rebrands as Verist With Chang as CEO
United Risk has acquired specialized property/casualty managing general agent Verita CSG, Inc. from global risk advisor WTW and rebranded the venture as Verist LLC. Industry veteran Michael Chang ...
Parrish Named CEO of Howden U.S., Is Sued by Former Employer Marsh
Mike Parrish has been named the chief executive officer of Howden U.S., a new U.S. retail broking business of Howden, and he will start in September subject to his "fulfillment of relevant ...