Industry News
CCC Intelligent Solutions Acquires EvolutionIQ for $730M
CCC Intelligent Solutions Inc. signed a definitive agreement to acquire claims management platform EvolutionIQ Inc.
Subject to the terms ...
Auto Insurer Files $450M Fraud RICO Case in NY
Commercial automobile liability insurer American Transit Insurance Company (ATIC), with specialization in the taxi and for-hire vehicle sector, filed a lawsuit this week seeking more than $150 ...
Senate Says Climate Is Causing Insurance ‘Crisis’; Industry Strikes Back
The U.S. Senate Budget Committee on Wednesday held a hearing to release a study they said confirms climate change is increasing non-renewal rates in multiple states, but the insurance industry ...
DARAG Completes Sale of North American and Bermuda Businesses to RiverStone
DARAG Group, the Malta-based legacy acquirer that focuses on the European market, announced it has completed the sale of its North American and Bermuda business entities to the RiverStone Group, a ...
Millions of Homeowners May Be Underinsured Due to Secondary Structures: ZestyAI
Millions of U.S. homes are underinsured, not because of any added value in the homes but because additional structures on the homeowner's property have gone unreported and are without protection. ...
Trump Transition Recommends Scrapping Car-Crash Reporting Requirement
The Trump transition team wants the incoming administration to drop a car-crash reporting requirement opposed by Elon Musk's Tesla, according to a document seen by Reuters, a ...
NC Supreme Court Bucks Trend, Finds COVID Caused Physical Loss to Restaurants
Courts across the country have overwhelmingly ruled in favor of insurance carriers in claims disputes following the government-ordered closures of businesses during the COVID-19 pandemic. The North ...
International, Domestic Insurers Push Into Catastrophe-Hit U.S. Property Markets
International and domestic insurers are pushing into the U.S. market for hard-to-protect homes, charging high premiums and enjoying strong profits after some U.S. firms pulled ...
Moody’s: Rising Flood Risks Posing Greater Challenges for Eastern and Southern U.S.
Flood risk is rising across the Eastern and Southern states from extreme rainfall, hurricanes and sea-level rise, according to a new report by Moody's Ratings.