Industry News
Reinsurers Won’t Earn Cost of Capital; More Rate Hikes: Fitch
The global reinsurance sector will fail to earn its cost of capital in 2020 amid the coronavirus crisis, which will help maintain reinsurance price increases during the year ahead, said Fitch ...
Travelers Partners With BrokerTech Ventures; First Carrier to Join
BrokerTech Ventures, the industry's first broker-led investor group and accelerator program, today announced that Travelers will become the first carrier partner to join the platform. "The elevated ...
Not All Homes in Wildfire Zones Are Uninsurable; Zesty.ai Refines Scoring Model
Fire risk scores now used by insurance underwriters can sometimes make it challenging for homeowners to find coverage. Zesty.ai, a California InsurTech startup, is among a handful of firms working to ...
Lights On Broadway to Go Dark in Insurance Fight
The digital billboards in New York City's famous Times Square will go dark tonight at 9 pm ET for one minute to dramatize the plight of restaurants, non-profits and retailers across the country that ...
Federal PRIA Bill Officially Introduced for Biz Interruption, Event Cancellation
During a press conference on Tuesday, New York Congresswoman Carolyn Maloney officially announced the introduction of the much-anticipated Pandemic Risk Insurance Act of 2020, a federal backstop for ...
SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis
French reinsurer SCOR announced that its Chairman & CEO Denis Kessler will receive 30 percent less in his annual variable compensation for 2019, which is equal to €325,260 (US$354,333). In ...
Underwriting Profits Up 21 Percent for Q1 2020: AM Best Analysis
Even though unrealized capital losses pushed surplus down 9 percent from year-end 2019 for the U.S. property/casualty insurance industry, aggregate underwriting profits for first-quarter 2020 were ...
Robinson Is New HIIG CEO, Replacing Way
Houston International Insurance Group Ltd. announced Tuesday that the HIIG board of directors appointed Andrew Robinson as chief executive officer, effective immediately. Robinson is filling the spot ...