News
Skeptical AM Best Tags U.S. D&O Segment With Negative Outlook
Rating agency AM Best has assigned a negative outlook to the U.S. directors and officers liability insurance segment as more market entrants increase capacity and drive down pricing in the face of ...AmFam Underwriting Loss Worsens to $1.7B in 2023
American Family Insurance posted a net underwriting loss of $1.7 billion for property/casualty business in 2023, up from an underwriting loss of $1.5 billion in 2022. While higher claim loss costs ...
After Slow 2023, M&A Activity Expected to Ramp Up This Year
More acquisition opportunities and continued competition across the market is expected in 2024, according to a new report, the "2024 Insurance M&A Outlook," by Deloitte. Property/casualty mergers ...
Hacker Group Claims UnitedHealth Paid $22M Ransom to Recover Data
A post on a hacker forum popular with cybercriminals has claimed UnitedHealth Group paid $22 million in a bid to recover access to data and systems encrypted by the "Blackcat" ransomware gang, ...NTSB Report Casts Doubt That Truck’s Steering Locked in Fatal Crash With Cyclists
A report released recently casts doubt about the driver's claim that the vehicle's steering locked up before a fatal crash involving a pickup truck and a group of cyclists last year near Phoenix. The ...
25 Straight Quarters of Premium Increases for Commercial Lines: CIAB Survey
Overall commercial property/casualty premiums increased slightly for all account sizes to 7 percent on average in the fourth quarter of 2024, continuing a trend that has now last more than six years. ...
Rising Sea Levels Increase Threat of Arsenic in Drinking Water: Study
Rising seas due to climate change could exacerbate the threat of arsenic in drinking water, according to a study published in PLOS One in January. Researchers focused on arsenic in well water in ...
InsurTech Coverdash Announces $13.5M Series A Funding
Coverdash, a small and midsize business focused InsurTech, announced in February $13.5 million in Series A funding. This financing comes within one calendar year of Coverdash's oversubscribed Seed ...