Industry News
As InsurTechs Make Waves, Consumers Still Trust Traditional Insurers More
InsurTechs are changing the face of insurance, Capgemini and Efma said, announcing results of a consumer survey last month in which nearly one-third of respondent said they now rely on InsurTechs. ...
Hiscox Re Offers Private Label Flood Endorsement for U.S. Insurers
Bermuda-based reinsurer Hiscox Re, along with insurance linked securities investors (ILS), has launched a flood insurance product for personal lines insurers to sell in the U.S. The turnkey flood ...
Q3 Catastrophe Losses Will Lead to Rate Hikes by London Market Insurers: Fitch
Catastrophe losses from the recent U.S. hurricanes and Mexican earthquakes will lead to price rises on London market insurers' loss-affected lines and could also affect wider market pricing trends, ...
A.M. Best Puts Carriers, Reinsurers on Review in Conjunction with BCRM Update
Insurance rating agency A.M. Best announced the publication of the updated Best's Credit Rating Methodology (BCRM) on Friday, and also announced the names of several insurance and reinsurance groups ...
S&P No Longer Expects Global Re Rate Drops at Jan. 1
A trio of third-quarter hurricanes and continued catastrophe losses impacting insurers and reinsurers will have a greater impact on reinsurers—and may potentially fuel reinsurance rate hikes at the ...
Insurance Industry Acquirers Underperformed in 2016: Willis Towers Watson
Research from Willis Towers Watson announced earlier this month revealed that insurers doing acquisitions in 2016 underperformed peers that stayed away from M&A. WTW used a performance measure ...
Tesla, Liberty Mutual Partner on Electric Car Insurance for U.S.
Tesla Inc. is partnering with Liberty Mutual Insurance Co. to offer an auto insurance plan designed specifically for its electric cars in the U.S. The plan made available to U.S. customers starting ...
S&P Changes Lloyd’s Outlook to Negative; Cat Loss Tallies Continue
While affirming the A+ financial strength rating of the Society of Lloyd's, S&P Global Ratings announced said Thursday that it revised the rating outlook to negative from stable in the wake of ...