Industry News
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 ...
Florida, East Coast to See Big Insured Losses From More Cat 5 Storms, Researchers Say
The just-ended 2025 Atlantic hurricane season surprised some forecasters after it produced no major storms that hit the United States. But the hurricanes that did arise, with most remaining offshore ...
Foundation Firmed: AM Best Switches View of U.S. Homeowners Insurers to Stable
Insurers of U.S. homes have improved rate adequacy and catastrophe risk management, modified coverage, and benefitted from a softening reinsurance market to earn a change in AM Best's outlook for the ...
KCC Releases Latest Version of U.S. Winter Storm Model
Catastrophe modeler Karen Clark & Company (KCC) announced the release of the KCC U.S. Winter Storm Model Version 3.0. The latest model captures two types of winter storms: extratropical cyclones ...
Litigation Finance Hits a Wall After Bets on Huge Gains Falter
Litigation finance is having a bad year. After predicting huge growth as recently as January 2024, the industry is now finding that hedge funds and other sources of capital are pulling back. The ...
How ‘Super Roofs’ Reward Insurers, Cat Bond Investors and Homeowners
As the Trump administration stalls federal funding for projects intended to make states more resilient to climate change and private insurers decline to cover properties in high-risk zones, North ...