Industry News
U.S. Commercial Insurance Prices in Q4 Continued Their Accelerated Rise: Willis Towers Watson
U.S. commercial insurance prices continued rising at an accelerated pace in the 2019 fourth quarter, with the aggregate price change exceeding 6 percent, according to a new Willis Towers Watson ...
Aon Alleges Fraud Over $300 Million Brazilian Acquisition Deal
British insurance broker Aon Plc has accused the founder of Brazilian health and benefits insurance broker Admix of defrauding it when it acquired the company four years ago in a 1.35 billion reais ...
InsurTech INSTANDA Raises $19.5M to Expand Market for Customer/Policy Management Platform
INSTANDA, a London-based customer and policy management platform for the insurance industry, has raised $19.5 million in new financing designed to accelerate an international expansion. "Today's ...
The Latest Launches From Zurich and Encova Insurance
Zurich partnered with a California-based InsurTech to reduce claims cost, boost efficiency and fight fraud. Encova Insurance will partner with an InsurTech and use its AI-enabled platform for text ...
State Farm to Leave Banking Business Through New Strategic Alliance
State Farm is getting out of the banking business. The property/casualty insurer said it has formed a strategic alliance with U.S. Bank, allowing it to assume State Farm Bank's existing deposit and ...
U.S. P/C Net Underwriting Income Grew by Nearly $5B in 2019: A.M. Best
Net underwriting income for the U.S. property/casualty insurance industry in 2019 grew by $4.9 million from 2018, A.M. Best said in a new report. Underwriting income hit $4.1 billion in 2019, from a ...
New York Residents Can Buy Travel Insurance With Coronavirus Protections
Travel insurers and travel agents will offer New York residents and businesses the ability to buy coverage that would allow them to cancel a trip for any reason, including those related to ...
Aon, Willis Tower Watson to Combine in Massive Merger Deal
Global insurance brokers Aon and Willis Towers Watson announced a definitive agreement to combine in an all-stock transaction with an implied combined equity value of approximately $80 billion. Under ...