News
Drought Watch Declared in NYC, Residents Asked to Conserve Water
New York's mayor urged residents to take shorter showers, fix dripping faucets and otherwise conserve water, issuing a drought watch Saturday after a parched October here and in much of the United ...
AIG CEO Zaffino on Approach to Catastrophe Losses in Today’s Reinsurance Market
American International Group CEO Peter Zaffino said he expects the reinsurance market to remain above losses generated by the frequency and severity of natural catastrophes. Losses will instead ...
The U.S. Has Sustained 24 Billion-Dollar Disasters in 2024
Since 1980, there have been 400 weather and climate disasters where overall damages/costs reached or exceeded $1 billion (including CPI adjustment to 2024), according to the National Centers for ...
More Than Half of All Employees in Finance, Insurance Work Remotely: Triple-I
Data as of September 24, 2024, shows that 63.7 percent of workers in Finance and Industry spend some of their time in a remote work environment. The analysis, conducted by the Triple-I, shows that ...
2024 Hurricane Season Racked Up 347,000 Flood-Damaged Cars So Far: CARFAX
As many as 347,000 vehicles have been flood-damaged so far by the 2024 hurricane season, according to the latest CARFAX estimate. Hurricane Milton added as many as 120,000 vehicles in Florida, on top ...
Las Vegas Bottled Water Company Hit With $5.2B Verdict in Liver Damage Lawsuit
A jury in Nevada has delivered a $5.2 billion award in the latest large-sum lawsuit against a former Las Vegas-based bottled water company that was found responsible for causing liver damage in ...
AIG General Insurance Underwriting Profit Falls 28% in Q3
American International Group saw third-quarter underwriting income in its general insurance segment fall 28 percent to $437 million due to higher catastrophe losses and lower favorable development on ...
Executives on the Move at Kettle, Aon, Lloyd’s
Kettle names a new chief executive officer. Aon appoints a chief underwriting officer for AUM. Lloyd's announces a change in chief people officer role.
NFIP to Begin Taking Monthly Flood Insurance Payments
The National Flood Insurance Program will soon start to accept monthly payments for flood insurance premiums, ending 55 years of requiring full payment upon application or renewal. The Federal ...