News
Ryan Specialty Launches New Sidecar to Support Its Delegated Underwriting
Ryan Specialty has formed a new collateralized reinsurance vehicle called Ryan Alternative Capital Re Ltd. (RAC Re). RAC Re will deliver additional capacity to Ryan Specialty Underwriting Managers' ...
NOAA’s Flood Inundation Mapping Tool Now Covers 60% of U.S.
The National Weather Service (NWS) recently announced that the experimental Flood Inundation Mapping (FIM) tool has expanded to serve 60 percent of the U.S. population, up from 30 percent the ...
U.S. Sues Southern California Edison, Blames It for Eaton, Fairview Wildfires
The U.S. government filed two lawsuits against Southern California Edison on Thursday, blaming the utility's equipment for sparking two wildfires, including the Eaton Fire in January that damaged ...
Lightning Sparked Wildfire Devastates Historic California Gold Mining Town, Homes
One of nearly two dozen fires burning across Northern California on Wednesday scorched homes in a Gold Rush town settled in the 1850s by thousands of Chinese miners who had faced discrimination and ...
Lloyd’s Reports Combined Ratio of 92.5 on Drop in H1 Underwriting Result
Lloyd's first-half underwriting result dropped by half to £1.5 billion ($2.0 billion) from £3.1 billion ($4.2 billion) in H1 2024, which was driven primarily by claims from January's California ...
‘Double-Edged Sword’: S&P Scrutinizes Reinsurer Reliance on MGAs
Reinsurers that rely too heavily on managing general agents to access specialized underwriting expertise and distribution are facing scrutiny from analysts at S&P Global Ratings as the market ...
NY Fed Finds Modest Impact of AI on Jobs Even as Usage Increases
Use of artificial intelligence among businesses jumped in the last year and is expected to continue to grow, yet few firms have cut jobs as a result so far, according to a new Federal Reserve Bank of ...
Florida Fines $2M Against 8 Insurers for Past Hurricane Claims Misconduct
The Florida Office of Insurance Regulation (OIR) announced penalties amounting to $2,075,000 against eight insurers, which it said mishandled claims in the wake of Hurricanes Ian and Idalia. In 2025, ...