Industry News
Executives on the Move at Everest Group, Zurich NA, Arch Capital, Plymouth Rock and Intact Financial Corp.
Everest Group has appointed Jim Williamson as president and chief executive officer, effective immediately.
Williamson was most recently ...
Wildfire-Risk Models Are Struggling to Predict LA-Style Fires
Among natural disasters, wildfires are the great unknown. Even the most-sophisticated scientific models fail to capture all the risk factors or properly account for the increasing impact of climate ...
‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association
A January 2025 report from the Geneva Association, titled Insurance in a Fragmented World Economy, found that geopolitical tensions have driven the global economy toward "geoeconomic fragmentation." ...
Travelers Posts 28% Increase in Q4 Net Income
The Travelers Cos. said fourth-quarter 2024 and full-year net income increased 28 percent and 67 percent, respectively, on strong underlying underwriting results. Travelers posted fourth-quarter net ...
The Latest LA Wildfire Loss Estimates: Verisk’s Range Is $28B-$35B
The Extreme Event Solutions group at Verisk has estimated that insured industry losses to property for the Palisades and Eaton fires together will fall between $28 billion and $35 billion. Verisk's ...
New York, New England Surplus Lines Insurance Groups Merge
The Professional Insurance Wholesalers Association (PIWA) and the New England Surplus Lines Association have merged. The combined organization will operate under the PIWA name and serve ...
FEMA Transfers $758M in U.S. Flood Program Risk to 27 Private Reinsurers
The Federal Emergency Management Agency (FEMA) said its reinsurance renewal for the National Flood Insurance Program (NFIP) included the transfer of nearly $758 million to the private market through ...
Future of Jobs: Claims Adjuster Among Fastest Declining Professions
Insurance claims adjusters have something in common with postal clerks, cashiers, administrative assistants and graphic designers. These jobs all rank among those in the greatest decline over the ...