Industry News
Hurricane Season Highlights Decline of 3-Tab Asphalt Shingles Impacting Repair, Replacement
Despite millions of U.S. households with 3-tab asphalt roof shingles, fewer manufacturers are producing them, a potential dilemma amid hurricane season. The study conducted by itel of its own ...
California Commissioner Orders Insurance Cancellation Moratorium for 185K Residents
California Insurance Commissioner Ricardo Lara issued a one-year moratorium on insurance companies to preserve residential insurance coverage for more than 185,000 policyholders affected by the Park, ...
QBE More Than Doubles First-Half Profit, but Misses Estimates
Australia's QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts' view, sending its shares to over a ...
European Insurers Enjoy Big Profits After Premium Hikes
Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums ...
Insurer’s Lack of Repairs Caused Woman’s Death After Ian: Florida Lawsuit
Just as another hurricane hit Florida, the child of a central Florida woman is litigating a claim from a previous storm—Hurricane Ian in 2022. This time, though, the plaintiff claims not only ...
Tech Bytes: New Partnerships at Bold Penguin, Cover Genius, Insurwave
Digital solution provider Bold Penguin announced the addition of certain capacity offered through RT Specialty, a wholesale distributor of commercial excess and surplus (E&S) insurance products ...
Vitesse Secures $93M in Series C Funding Led by KKR
Vitesse, a treasury and payment solutions provider for the insurance industry, announced the completion of a $93M Series C funding round led by global investment firm, KKR, with participation from ...
Where Commercial Lines Renewal Rate Changes Landed: July Index
Year over year, commercial auto, business owners, general liability, commercial property and umbrella experienced increasing average premium renewal rates, according to the latest monthly Ivans Index ...