Industry News
2025 Predictions: Tech and UBI Growth, 5 Carriers to Exit Auto Market
It's expected that in 2025, rising claims costs will continue to push insurance rates higher, frustrating customers and forcing insurers to customize products, according to a report by global market ...
New Gallagher Re-Bitsight Report Identifies Cyber Footprint as Claims Driver
A new report from Gallagher Re has found that cyber insurers could reduce loss ratios up to 16 percent by removing most-at-risk entities. Using independent analysis of cybersecurity performance data ...
Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms
A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a "direct physical loss" as ...
Tech Bytes: New Partnerships at Mylo, Cytora
InsurTech Mylo announced its membership in the International Franchise Association (IFA), a franchising membership organization with more than 60 years of experience advancing franchisors, ...
INSHUR Raises More Than $19M in Latest Funding Round
INSHUR, a global embedded insurance provider for the on-demand economy, has raised $19 million in its latest funding round. The round was led by Viola Growth, with the participation of MS&AD ...
Judge Approves $102 Million Settlement Over Baltimore Bridge Collapse
A U.S. judge approved on Friday a $102 million settlement by the companies that owned and operated the ship that struck Baltimore's Francis Scott Key Bridge in March, killing six people. The payment, ...
NFIP Reform Needed to Bring Down Flood Insurance Costs: Louisiana Senator
Louisiana Senator Bill Cassidy released a report Thursday critical of the National Flood Insurance Program's adoption of Risk Rating 2.0. The report, "The Flood Insurance Crisis: A Comprehensive ...
North Carolina Calculates Helene Damage at $58B, Far More than Florence
The catastrophic flooding and destruction caused by Hurricane Helene in western North Carolina likely caused at least a record $53 billion in damages and recovery needs, Gov. Roy Cooper's ...