Industry News
Why Trump’s Plan to Stop Tallying Weather Losses Matters to the Insurance Industry
Extreme weather is an increasingly expensive problem in the U.S. Last year, fires, droughts and storms caused more than $182 billion in damages — but going forward, the federal government won't be ...
Zurich Insurance P/C Revenue Rises in 1st Quarter; Targets Affirmed
Zurich Insurance reported higher first-quarter revenue and gross written premiums at its core property/casualty (P/C) business on Thursday, maintaining its targets despite ...
Root Builds on First Profitable Year With Reversal of Q1 Loss to Start 2025
Root Inc. reported first quarter net income of $18.2 million to build off results of 2024—its first profitable year. The net profit for the first three months of 2025 is compared to a net loss of ...
Liberty Mutual Q1 Net Income Down 33%
Liberty Mutual Holding Company Inc. booked consolidated first quarter 2025 net income of about $1 billion, down about 33% from the same period a year ago. Catastrophe losses for the first three ...
Ransomware Claims Stabilized in 2024, Though Still the Costliest Cyberattack
The majority of cyber insurance claims in 2024 were the result of business mail compromise or funds transfer fraud, according to digital risk insurance provider Coalition. The San Francisco-based ...
Lloyd’s Names Tiernan as CEO, Succeeding Neal Who Is Moving to Key Role at Aon
Lloyd's, the re/insurance marketplace, announced that Patrick Tiernan has been appointed as chief executive officer by the Council of Lloyd's, succeeding John Neal. Tiernan will begin his tenure as ...
Berkshire Shareholders Reject Diversity, AI Proposals
Berkshire Hathaway shareholders on May 3 rejected a resolution requiring the company to report on risks from its subsidiaries' race-based initiatives, one of seven proposals ...
JD Power: Drivers Keep Shopping Even as Auto Insurance Price Increases Slow
Even as auto insurance rates level out, drivers are still looking for a better deal. The rate of U.S. auto insurance premium price increases slowed to less than 2% at the end of 2024, down from 13% ...