News
Florida’s Tale of Two Coasts: One Soaked, The Other Parched
In Florida, this year has been a tale of two states as far as rainfall totals, with the southeast coast deluged by sometimes-record rainfall and much of the Gulf of Mexico coast facing a drought. ...
AM Best Maintains Stable Outlook for U.S. Property/Casualty Commercial Lines
Persistently strong underwriting performance during and after the global pandemic – despite substantial economic and capital markets volatility – has prompted AM Best to maintain its "stable" ...
Hailstorm Claims Risk Undermining Solar Energy, Insurer Says
Solar farms around the world are under threat due to costly hailstorm-related claims, according to renewable energy underwriter GCube Insurance. Hail was the costliest category for insurance claims ...
U.S. P/C Carriers Post $32B Underwriting Loss for First Nine Months: AM Best
The U.S. property/casualty industry recorded a $32.2 billion net underwriting loss in the first nine months of 2023, $7.6 billion worse than the underwriting loss posted in the same prior-year ...
Tesla Cybertruck’s Design Raises Safety Concerns
The angular design of Tesla's Cybertruck has safety experts concerned the electric pickup truck's stiff stainless-steel exoskeleton could hurt pedestrians and cyclists and damage other vehicles on ...
Judge: Boy Scout Abuse Claims Fund Shouldn’t Pay $21M in Lawyer Fees
The judge presiding over the Boys Scouts of America's bankruptcy has rejected a $21 million fee request from attorneys hired by law firms representing survivors of child sexual abuse. A group of ...
Humanity on Verge of 5 Climate Tipping Points, Report Warns
Five major global "tipping points" are in danger of being crossed at current levels of warming, a new study warns, leaving humanity at an inflection point between two potential futures. An ...
AI-Driven Embedded Platform Mulberri Announces $6.75M Series A
Mulberri, an artificial intelligence-driven embedded business insurance platform for small and medium enterprises, announced its $6.75 million Series A led by Eos Venture Partners, with participation ...