Industry News
Updated: Tractable Raises $25M to Expand Reach of AI Accident Recovery Tech
Tractable, an InsurTech developing artificial intelligence for accident and disaster recovery, nailed down $25 million in new venture financing. The money infusion will be used to accelerate a push ...
A.M. Best Downgrades Argo’s Credit Ratings After a Disappointing Q4
Argo Group International Holdings, already reeling from a tough 2019 fourth quarter and year, now must deal with downgraded credit ratings from A.M. Best. The Bermuda-based specialty insurer and ...
Florida Carriers, Facing Market Turmoil, Pursue Massive Rate Increases
It's no surprise that Florida carriers are raising homeowners insurance rates given several years of catastrophes and losses from litigation related to assignment of benefits and water damage claims. ...
Allianz CEO Says Market Panic Over Coronavirus Isn’t Warranted
Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe's biggest insurer. Chief ...
CNA Chooses Miralles as Its New CFO
CNA's CFO slot has a new person in the role. The Chicago-based property/casualty insurer said it appointed Al Miralles as executive vice president and chief financial officer. He replaces James ...
The Latest Launches From Nationwide, Bold Penguin and Neptune Flood
Nationwide said it is beefing up its coverage of homeowners with connected devices through a new partnership with Notion. Bold Penguin, a commercial insurance technology provider, has added ...
AIG’s Blackboard Insurance Gains Virginia Approval for Commercial Insurance Cover
Blackboard Insurance disclosed it has gained approval of its commercial insurance package in Virginia, bringing its reach to 47 states and territories to date. The news represents a milestone for the ...
Progressive Plans to Hire Up to 8,000 Additional Employees in 2020
Progressive said it plans to hire as many as 8,000 new employees nationally in 2020 to help propel continued growth in auto, property, commercial lines and recreational products insurance. Hiring ...