Industry News
InsurTech Summit Preview: Post-Pandemic InsurTech Usage Is at a ‘Leap Forward Moment’
Property/casualty insurers have talked for years about the need to modernize and embrace technology in order to serve their customers better. COVID-19 came along and rapidly quickened the process, ...
March U.S. Storms Caused More than $1B in Insured Losses: Aon
An onslaught of U.S. storms and flooding in March caused as much as $2 billion in economic damage. Public and private insurers were likely to see losses surpass $1 billion, Aon plc said in its ...
Businesses Pursue More COVID-19 Lawsuits, Seeking Higher Damages
The anniversary of COVID-19 shutdown orders brought an upturn in both the number of business-interruption lawsuits against insurers and the amount of damages they are claiming. In the past month: A ...
Insurance Industry Promotes Philanthropic and COVID Relief Initiatives
The insurance industry nonprofit Insurance Industry Charitable Foundation (IICF) gave insurance industry leaders an opportunity to talk about their philanthropic initiatives at a recent media event. ...
Global Shipping Backlog Continues Even as Suez Blockage Cleared
A backlog of container ships carrying consumer goods has grown in some key strategic ports after a near week-long blockage in the Suez Canal, adding to ongoing disruptions to global trade, industry ...
Liberty Mutual, Starr Join Bitcoin Investment Firm’s $100M Funding Round
Liberty Mutual and Starr Insurance Companies are among property/casualty carriers who joined a $100 million funding round for NYDIG, a technology and financial services firm focused on bitcoin. The ...
Insurance Is on GM’s Growing List of Side Ventures
Pam Fletcher wants to change the way General Motors Co makes money. The veteran GM engineer's Global Innovation team is looking for new enterprises to expand the automaker's sources of revenue well ...
UN Sustainable Investment Group Reviewing Liberty Mutual Membership Over Coal Mine Controversy
UNPRI, a United Nations-backed network that promotes sustainable investment, is reviewing the status of Liberty Mutual as a signatory after receiving a complaint that the U.S. insurer is backing a ...