News
InsurTechs Highlight New Approaches to Wildfire Insurance
Years before the January 2025 Palisades and Eaton fires sparked in high-wind conditions in Southern California, growing to rank among the top three most destructive in U.S. history, InsurTechs ...
Progressive ’24 Net Income More Than Doubles; Combined Ratio Below Target
Progressive reported net income of $8.5 billion for 2024, more than double the $3.9 billion figure reported for 2023, with underwriting profit coming in well below the company's annual target. ...
New OSHA Rule Requires Fitted PPE for Construction Workers
A revision to OSHA's personal protective equipment standard for construction workers went into effect on Jan. 13, 2025. The final rule explicitly requires the equipment to properly fit any ...
AI Vehicle Inspection Startup UVeye Raises $191M
UVeye, a startup that uses AI-driven technology to inspect vehicles to avoid defects and target repairs, said on Wednesday it has raised $191 million in debt and equity to scale up production in ...
Unfixed Recalls Remain on More Than 58M Cars in the U.S.
Newly released data shows that 58.1 million vehicles nationwide have at least one unresolved manufacturer's recall, according to CARFAX. That's a 16 percent increase in just two years. Among vehicles ...
California Utility Reports Fault on Power Line Miles Away From Deadly Eaton Fire
Southern California Edison on Monday reported a fault on a power line connected miles away from ones located near the origin of the Eaton Fire, the deadly blaze that ignited outside of Los Angeles on ...
Executives on the Move at AIG, Chubb, MGT
American International Group said it is organizing into three segments and Jon Hancock will lead two of them. Hancock will continue to lead AIG's International Commercial Insurance business and will ...
W.R. Berkley Posts Record Year With Q4 Net Income Up 45%
Fourth-quarter 2024 net income at W.R. Berkley Corp. jumped 45 percent compared to a year ago to about $576 million. For the year, the Greenwich, Conn.-based commercial insurer said it booked record ...