AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry
The recent 15-hour or so outage at Amazon Web Services (AWS) again raised questions about the potential for systemic loss to the cyber insurance market, but losses ...
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Chubb Books Record P/C Underwriting Income, Combined Ratio in Q3
Insurer Chubb booked third-quarter net income 20.5 percent higher than a year ago at $2.8 billion—with record P/C underwriting income of $2.26 billion. Underwriting income was 55 percent more than ...
U.S. Saw Record $101 Billion in Weather Losses Through June
The U.S. saw more than $101 billion in losses from severe storms and fires in the first half of 2025, setting a record. That's according to a database of billion-dollar disasters that a nonprofit has ...
Jewelry Stolen From Louvre Valued at 88 Million Euros, Paris Prosecutor Says
Thieves who staged a daring daylight heist at the Louvre museum in Paris made off with jewels worth an estimated 88 million euros ($102.63 million), Paris public prosecutor ...
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
As a group, the top 50 global property/casualty insurers grew premiums by 8.3 percent in 2024, but four of them, individually, grew by more than 20 percent, including Progressive which vaulted into ...
Weak La Niña Expected to Bring Cooler Temperatures to the U.S. This Winter
A new winter outlook report suggests La Niña conditions will remain through February 2026, according to the National Weather Service. The expected weak and short-lasting La Niña will still create ...
Jaguar Land Rover Hack Cost UK Economy an Estimated $2.5B
The hack of Jaguar Land Rover, owned by India's Tata Motors, cost the British economy an estimated 1.9 billion pounds ($2.55 billion) and affected over 5,000 organizations, according to an ...
Amazon Cloud Outage Exposes the Internet’s Vulnerable Backbone
A massive internet outage stemming from errors in Amazon cloud services on Monday morning demonstrated just how many people rely on the corporate behemoth's computational infrastructure every day — ...
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot
The seemingly unstoppable rise of catastrophe bonds may now be eroding the market share of reinsurers. After years of raising prices, reinsurers are finding that primary insurers have started relying ...