Industry News
Water Leaks, Frozen Pipes Top List of Small Business Claims: The Hartford
Damage from water leaks and frozen pipes are the most common insurance claims for small-business owners, while fire claims are the most expensive, according to an analysis of The Hartford's ...
Chubb, The Hartford, Liberty and Travelers Team Up on Surety Tech Co. Launch
Four surety companies—Chubb, The Hartford, Liberty Mutual and Travelers—announced the launch of a technology company that will feature a shared digital infrastructure to advance the surety ...
Swiss Re Shares Drop After New Profit Target Falls Short of Expectations
Swiss Re shares dropped 7.5 percent on Friday after the world's second-largest reinsurer announced a new profit target that fell short of market expectations. The Zurich-based company said it was ...
‘Dream Is in Sight:’ Chamber, Reinsurers, Insurers Urge Florida to Stay the Course
The message from the Florida Chamber of Commerce Insurance Summit was loud and clear: Don't mess with legislative changes that have all but restored the state's property insurance market. And while ...
Hong Kong High Rise Fire to Hurt Taiping Insurance Earnings: Fitch
The deadly fire that ripped through seven high-rise towers in Hong Kong is expected to result in a surge in near-term claims among insurers and hit earnings of the complex's main underwriter, an ...
Berkshire Hathaway Announces Leadership Appointments: New CEO at GEICO
Berkshire Hathaway announced that Nancy L. Pierce has been appointed Chief Executive Officer of GEICO, effective immediately. Pierce currently serves as Chief Operating Officer of GEICO and, since ...
Satellite Startup ICEYE Raises Funds at $2.8 Billion Valuation as Europe Boosts Defense
ICEYE, a Finnish satellite developer with a number of defense contracts, has raised money at a €2.4 billion ($2.8 billion) valuation, capitalizing on the military spending boom across Europe. ...
State Farm Sued Over Policies Backed by Distressed Insurer PHL
State Farm Mutual Automobile Insurance Co. faces a lawsuit accusing it of fraud and unjust enrichment for selling products from PHL Variable Insurance Co., which authorities say has a $2.2 billion ...