Industry News
Tesla Hit With Insurer Lawsuits Over Solar Panel Fires
One evening last year, David Burek noticed charred wood and a burning smell in his attic, near his young sons' bedroom. He climbed a ladder and saw a melted connector wire from the solar panels ...
New Broker McGill & Partners Forms U.S. Subsidiary
The new London-based insurance broker, McGill & Partners, is forming a Delaware-based subsidiary and is obtaining U.S. licenses to operate, the company's founder Steve McGill has confirmed. When ...
Expect $2-$3B In Annual Industry Losses From Japan Quakes: KCC
For insurers and reinsurers, the 1995 Kobe earthquake produced $3 billion in insured property losses, but a repeat of a more devastating quake that happened 72 years earlier could bring $225 billion ...
Carriers Experienced Costliest Two-Year Period Ever for Cat Losses: Aon
Global insured losses stemming from major wildfires, tropical cyclones and severe thunderstorms reached $90 billion in 2018, close to 50 percent higher than the annual average between 2000 and 2017, ...
Homeowners Insurance Startup, Underwriting Platform Form Separate Partnership Arrangements
Home insurance startup Swyfft is partnering with a subscription app designed to help homeowners catch and address issues before they become costly repairs. DataCubes is joining forces with a ...
Tesla Begins Offering Auto Insurance to Its California Customers
Tesla Inc. began offering auto insurance to its vehicle owners in California, touting rates as much as 30% lower without offering much detail. The electric-car maker is offering online quotes through ...
Progressive Corp. Tops Commercial Auto Charts; Others Still Ailing: Fitch
The commercial automobile insurance segment is headed for its ninth straight year of underwriting losses when the books close at year-end 2019, analysts at Fitch Ratings predict in a new report. In ...
The Latest Launches From Root Insurance and Zurich North America
Root Insurance is testing a partner's video security and safety system tech as a way to streamline insurance claims. Zurich North America and Wright National Flood Insurance Services, LLC are ...