News
Casualty Reinsurance Still Attractive: Arch CEO
While writing primary casualty insurance is more appealing than writing casualty reinsurance, the chief executive of Arch Capital said casualty reinsurance business remains attractive for his ...
AIG’s Zaffino Talks More on Insurer-Reinsurer Balance as $200B Cat Year May Loom
American International Group CEO Peter Zaffino used the insurer's fourth quarter earnings call to again talk about reinsurance attachments points, throwing in the possibility 2025 could be the year ...
Higher Turnover, Greater Stress Linked to Increase in Commercial Truck Crash Risk: Survey
A new survey finds that a majority (86 percent) of commercial drivers believe accident risk has increased in the last five years, according to global connected transportation solutions provider ...
Florida Announces Insurance Rate Reductions
Florida Governor Ron DeSantis offered an update on Florida's insurance market last week, noting significant progress in stabilizing rates. Citizens Property Insurance will reduce homeowners' ...
FEMA Employees Fired for Covering Luxury New York City Hotel Costs for Migrants
Four federal employees were fired Tuesday over payments to reimburse New York City for hotel costs for migrants, Department of Homeland Security officials said. The workers are accused of ...
Allstate to ‘Lean Into’ Turnaround in Auto Business, and Grow
Allstate's plan to correct its auto insurance business has "restored profitability back to target levels," said the insurer's head of personal insurance. During an earnings call with analysts, Mario ...
FEMA to Borrow $2B to Pay Flood Claims After Hurricanes Helene and Milton
The Federal Emergency Management Agency said it needs to borrow $2 billion from the U.S. Treasury to cover claims from National Flood Insurance Program policyholders. FEMA, administrator of NFIP, ...
Mercury Sees Subro, Re Recoveries Cutting Most of $1.6B+ Wildfire Losses
Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ...