Industry News
Activist Shareholder to Watford: Sell Yourself or Go Into Runoff
Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the reinsurer to sell itself or be put into runoff. In a letter to Watford's board of directors, the ...
Allstate Tallies April Catastrophe Losses at More Than $600M
The Allstate Corporation announced estimated catastrophe losses for the month of April of $632 million before taxes. The after-tax tally is $499 million, the company said. Six April events ...
WCIRB Lowers Mid-Range Estimate of COVID Workers Comp Costs by $10B
The Workers' Compensation Insurance Rating Bureau of California published estimated costs of allowing state workers to receive benefits for COVID-19 claims without proving virus exposure at work, ...
AIR Worldwide: Global COVID-19 Deaths Could Reach 644,000 in June
Over the next four weeks, the number of global COVID-19 cases could reach 50 million, with 644,000 estimated deaths, according to AIR Worldwide, Verisk's catastrophe modeling unit. As of May 19, ...
Court Orders AXA to Pay Restaurant’s COVID-19 Business Interruption Losses
A Paris commercial court ruled that insurer AXA must pay a restaurant owner two months' worth of coronavirus-related revenue losses, the restaurateur's lawyer said on Friday, possibly opening the ...
Climate Change Making Hurricanes Stronger: Study
Hurricanes have grown stronger over the last four decades—and climate change is likely to blame, says a new study from the National Oceanic and Atmospheric Administration and the Cooperative ...
VC Firm Eos Venture Partners Closes InsurTech Investment Fund
Eos Venture Partners said it has closed an $85 million InsurTech investment fund that will tap into new insurance industry needs. To be known as the Strategic Investment Fund, the investment vehicle ...
Insurance Groups Team Up on Federal ‘Business Continuity Protection Program’
Two property/casualty insurance industry carrier groups and an agents association have unveiled a proposed federal program to replace revenues lost by businesses shut down during pandemics like ...