News
Markel Insurance Completes Sale of Reinsurance Renewal Rights to Nationwide
Global specialty insurer Markel Insurance reported that it has completed the sale of the renewal rights for its $1.2 billion global reinsurance business to Nationwide. This transaction was previously ...
Another Carrier Sets Up Shop in Florida: Vision Insurance Exchange
Regulators have approved another new property insurer for the Florida market – Vision Insurance Exchange – led by former Florida Peninsula Insurance CEO Roger Desjadon. The Cape Coral-based ...
Fall Forecast Calls for Above Normal Temps, Mixed Precipitation Across U.S.
A warmer-than-average fall is expected this year, according to the National Weather Service Climate Prediction Center's August-October Outlook. As El Niño Southern Oscillation (ENSO)-neutral ...
Judge Rules Tesla Drivers Can Pursue Class Action Over Self-Driving Claims
Tesla must face a certified class action by California drivers who said Elon Musk misled them for eight years about the self-driving capabilities of his company's electric vehicles. U.S. District ...
Hurricane Erin Bounces Through Categories, Keeps Forecasters Guessing
Hurricane Erin weakened to a Category 3 hurricane on Sunday, with its outer bands lashing the Virgin Islands and Puerto Rico. As forecasters warned of a growing risk of life-threatening surf and rip ...
Swiss Re Tops List of Largest Reinsurers on Its Shift to IFRS-17 Accounting: AM Best
Swiss Re tops the list of the world's 50 largest reinsurers as a result of its adoption of the IFRS-17 accounting standards, which also led to a shuffle among the top-tier reinsurers, according to AM ...
Aon Accused of Contributing to Collapse of Startup Vesttoo
Insurance broker Aon Plc was accused in a civil lawsuit of helping cause the collapse of Vesttoo Ltd., an Israeli insurance startup once valued at $1 billion that went bankrupt after disclosing ...
Mercury Seeks 6.9% Rate Increase in Filing Based on New Cat Modeling Regulation
Mercury Insurance said it has submitted a filing based on California's new regulation enabling catastrophe modeling to be included as a factor in ratemaking. The filing is reportedly the first to use ...