News
Mangrove, Another New Property Insurer, Enters Florida Market
Itasca Re Chairman Stephen Weinstein has launched a new Florida-domiciled insurance carrier, known as Mangrove Property Insurance, with plans to assume thousands of policies from Citizens Property ...
DeepSeek’s AI Restricted by ‘Hundreds’ of Companies in Days
Companies and government agencies around the world are moving to restrict their employees' access to the tools recently released by the Chinese artificial-intelligence startup DeepSeek, according to ...
Insurance Payouts at $4B and Counting for LA Wildfires
Preliminary data show insurance companies have paid out more than $4 billion for losses from the biggest two of the Los Angeles-area wildfires that swept through the region and destroyed tens of ...How Black Boxes Hold Vital Clues to Air Disasters
Investigators have recovered the so-called black boxes from an American Airlines Bombardier CRJ-700 regional jet, which collided with a U.S. Army UH-60 Black Hawk helicopter and crashed into the ...
‘So Much More’: Nationwide Spends $1.25B For Allstate Employer Stop Loss Biz
Nationwide announced on Thursday that it has entered into a definitive agreement to purchase The Allstate Corporation's employer stop loss segment for $1.25 billion. Stop loss insurance protects ...
Hawaii Wildfire Victims Spared From Testifying in Last-Minute Deal Over $4B Settlement
Lawyers representing victims of a deadly Hawaii wildfire reached a last-minute deal averting a trial that was scheduled to begin Wednesday over how to split a $4 billion settlement. The agreement ...
‘Underwriting Choices’ Added to Everest’s Social Inflation Woes: CEO
Social inflation wasn't the only factor that pushed the loss severity on the U.S. casualty book of Everest Group Ltd. up high enough to prompt a $1.7 billion loss reserve charge, the CEO said earlier ...
Property-Cat Reinsurance Rates Will Stop Dropping Post-Wildfires: Execs
RenaissanceRe expects to incur about $750 million in losses from the January 2025 California wildfires—and anticipates that industrywide impacts should halt the drop in property-catastrophe ...