News
What Happened to the Hurricanes? CSU Forecasts September ‘Quiet Period’
The first two weeks of September are expected to be quiet for Atlantic hurricane activity, according to experts at Colorado State University. The CSU Tropical Meteorology Project, which has been ...
New York City’s Biggest Taxi Insurer Is Insolvent, Risking Transit Meltdown
In an unassuming white and blue office building in Freeport, a few miles into Nassau County, sits the headquarters of American Transit Insurance Co. The 52-year-old, family-owned firm is hardly a ...
Lloyd’s Reports Best First-Half Underwriting Profit Since 2007
The Lloyd's insurance and reinsurance market reported overall profit before tax of £4.9 billion (US$6.4 billion), a 25.6 percent increase from the £3.9 billion (US$5.1 billion) reported during H1 ...
Climate Losses Batter Insurers While Reinsurers Step Back
As the planet warms and more natural disasters occur, insurers are facing an increasingly difficult time. In 2023, for the fourth year in a row, global insured catastrophe losses exceeded $100 ...
Risks Too Big for Insurers Just Fed a $200B Market Boom in Captives
As the market for in-house insurance surpasses a record $200 billion, the underlying reasons for that boom show how a hotter, less stable planet is redrawing the risk map for corporations. Captive ...
U.S. Workforce Is Seen Expanding Just 0.4% a Year in Coming Decade
The U.S. labor market is expected to grow by 0.4 percent a year through 2033, less than one-third of the pace in the preceding decade, according to new Bureau of Labor ...
Reconstruction Costs Continue to Rise, Verisk Report Shows
Between July 2023 and July 2024, total reconstruction costs in the United States, including materials and retail labor, increased by 5.2 percent, according to a recent report by Verisk. This is a ...
As Traffic Deaths Remain High, U.S. DOT Awards $1B for Road Safety Projects
The U.S. Transportation Department said on Thursday it is awarding $1 billion for a series of projects aimed at reducing traffic crashes, as road deaths remain sharply higher than pre-pandemic ...