Industry News
Changes at CRC Group: Rebrand and New Division Structure
CRC Group announced a strategic rebrand to unify its operations and reinforce its position as a pure-play, independent wholesale and underwriting industry leader. As part of this transition, the TIH ...
Chubb to Buy Liberty Mutual Thailand, Vietnam Insurance Assets
Chubb Ltd. agreed to acquire Liberty Mutual Holding Co.'s businesses in Thailand and Vietnam in a deal that would help it boost its presence in Southeast Asia. Chubb plans to buy LMG Insurance Public ...
State Farm Stronger as Underwriting Losses Shrink—But Not in California
After reporting a $13 billion underwriting loss in 2022 and $14 billion in 2023, State Farm recorded another underwriting loss last year—but the total for 2024 was less than half of those prior ...
Consumer Trust Issues Hinder Industry Efforts to Close Protection Gap: Survey
Most insurance executives surveyed last year believe they have "an ethical obligation" to close the protection gap—and also believe that "lack of trust in the insurance industry" is a key barrier ...
CoreLogic: Chicago Has Most Homes at Risk from Convective Storms
Convective storms added to a year of extreme weather events that will put pressure on property insurance rates, particularly in a few hard-hit states, a new report shows. CoreLogic released its 2025 ...
AXA CEO Says Prevention Needed to Keep Home Insurance Affordable
A leading insurance executive said the best way to keep price increases in check for property insurance in regions exposed to climate change is to mitigate the impact of natural disasters. Prevention ...
Natural Coastal Habitats Can Reduce Flood Losses: Swiss Re
Natural coastal habitats such as coral reefs, mangrove swamps and salt marshes can provide significant protection against lower-severity storms and help reduce flood ...
Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Germany's Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss ...
