Industry News
Harvey Likely Hit Hiscox With $150M in Net Insurance Claims
Specialist insurer Hiscox Ltd. believe it will see net claims from Hurricane Harvey hovering around $150 million. The number is based on an insured market loss prediction of $25 billion, excluding ...
Florida’s HCI Group Estimates $100M-$300M In Hurricane Irma-Related Losses
HCI Group predicts it will handle between $100 million and $300 million in insured losses related to Hurricane Irma, according to preliminary estimates from the Florida-based insurer. The losses will ...
NFIP Head: $11B in Payouts Likely for Hurricane Harvey Insured Homeowners
The head of the National Flood Insurance Program said Wednesday early estimates show Hurricane Harvey will result in about $11 billion in payouts to insured homeowners, mostly in southeast Texas. ...
InsurTech Investment Is Surging in Europe as Carriers Modify Customer Interactions
Insurers are counting on real-time technology to help them cut back payouts, from a system warning ships of nearby pirates to an app offering to buy sleepy drivers a coffee on the motorway. The lure ...
China Online Insurer ZhongAn Begins $1.5B Hong Kong IPO
ZhongAn Online P&C Insurance Co., China's largest online insurer, started taking orders for a Hong Kong initial public offering that could raise as much as $1.5 billion. The Shanghai-based ...
Harvey, Irma Will Create Short-Term Hardened Property Market; Early Capital Concerns Minimal
Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term, according to a new KPMG survey. In related news, a new Morgan ...
Hurricane Jose Appears Headed for U.S. as Maria Strengthens
Hurricane Jose churned toward the U.S. Northeast and could cause swells along the coast by midweek, according to the National Hurricane Center, while Tropical Storm Maria is expected to become a ...
UK Business Leaders Want May to Seek Three-Year Brexit Transition
British business leaders urged Prime Minister Theresa May to seek a three-year transitional period after Brexit, warning failure to secure more time would jeopardize "our collective prosperity." In a ...