Industry News
NYC Council Passes Bill to Lower Insurance Limits for For-Hire Vehicles
With urging from a coalition of for-hire vehicle drivers and companies including Uber, the New York City Council voted to lower a for-hire vehicles' insurance requirement in hopes of lowering ...
CDI Announces Investigation of State Farm Wildfire Claims Handling
California Insurance Commissioner Ricardo Lara on Thursday announced a formal investigation into State Farm's handling of thousands of insurance claims from wildfire survivors affected by the ...
A market conduct examination is a formal review by a state insurance department of how an insurer operates in the...
Mercury Insurance’s Climate Science Team Aims to Say ‘Yes’ to High-Risk Areas
Mercury Insurance, headquartered in Los Angeles, Calif., appointed Steve Bennett as its senior director of climate and catastrophe science. In this new position, Bennett will build and lead a team ...
Ategrity Specialty Seeks $113.3M in IPO
Ategrity Specialty Insurance Company Holdings announced today the pricing of its expected initial public offering of 6,666,667 shares of common stock at a public offering price of $17.00 per share. ...
Samsung Fire & Marine Insurance Increases Stake in Lloyd’s Insurer Canopius
Canopius Group, the London-based specialty and property/casualty insurer and reinsurer, announced that Samsung Fire & Marine Insurance (SFMI) has entered into an agreement to purchase an ...
U.S. Commercial Lines Prices Up 5.3%, But Still on Downward Trend: WTW CLIPS
U.S. commercial insurance rates went up again in the first quarter 2025, according to the latest findings from WTW's Commercial Lines Insurance Pricing Survey (CLIPS). Carriers reported an aggregate ...
Hyundai, Kia, Toyota, Nissan Models Win 2025 IIHS Vehicle Safety Awards
The Insurance Institute for Highway Safety's latest round of vehicle safety award winners include six vehicle models from four foreign automakers earning 2025 TOP SAFETY PICK+ awards in the latest ...
ECRA, CMC Pools Have New Runoff Manager: Alan Gray LLC
Alan Gray LLC has been named will perform claim administration, financial coordination, and data management services related to the runoff of two legacy reinsurance portfolios containing long-tail ...