News
AIG Profit Exceeds Expectations on Lower Catastrophe Losses
American International Group Inc. (AIG) reported profit above analysts' estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted ...
Businesses Consider Outsourcing Gen AI Over Data Security, Privacy and Regulatory Concerns
Business leaders are particularly focused on innovative ways to enhance customer experience (CX) through generative AI (GenAI) technology while balancing the need for return on their investment, ...
For carriers and MGAs, cloud-hosted insurance platforms can reduce IT overhead, strengthen business continuity, improve security, and make scaling claims...
J&J Sub Proposes $6.48B Payout Over 25 Years to Settle Talc Cancer Suits
A subsidiary of Johnson & Johnson is now proposing to pay approximately $6.48 billion over 25 years as part of a settlement in the U.S. to cover allegations that its baby powder containing talc ...
London Firms Are Letting More Staff Work Entirely From Home
London's employers are letting more staff work entirely from home, according to a prominent recruitment firm, with workers keen to earn the premium paid by jobs in the capital without enduring its ...
Personal Auto Insurance Competition Heating Up, Root Execs Say
Personal lines InsurTech Root reported its first-ever quarter of operating profit and first-ever gross combined ratio below 100 for first-quarter 2024 while more than doubling gross written premiums ...
Prudential to Wind Down Direct-to-Consumer Assurance Business
Less than five years after acquiring online insurance startup Assurance IQ for $2.35 billion, Prudential is shutting it down. "Prudential Financial routinely evaluates strategic opportunities for its ...
Warren Buffett’s PacifiCorp Now Faces $30B Claim Demand in Oregon Wildfires
Berkshire Hathaway Inc.'s PacifiCorp now faces a demand for $30 billion from victims of Oregon's 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the ...
LexisNexis: Loss Costs Rise for All Home Insurance Perils
A new report indicates loss cost across all perils combined grew for the fourth year in a row in 2022, according to the latest LexisNexis "U.S. Home Trends Report." The 8th annual report on home ...