News
Natural Disaster Protection Gap Returned to ‘Average Levels’ in 2023
Global insured losses from natural catastrophes totaled $118 billion in 2023, according to Aon's annual Climate and Catastrophe Insight report. That number represented 31 percent of the total ...
Class Actions Filed Over Builders Mutual, Progressive’s Own Data Breaches
Progressive Casualty Insurance and North Carolina-based Builders Mutual Insurance Co. have been served with class-action lawsuits over data breaches on their own computer systems in 2022, cyber ...
Florida to Borrow Billions to Backstop Insurers After Hurricanes
The state corporation that oversees the Florida Cat Fund is planning to borrow as much as $3.8 billion to ensure the fund has plenty of money on hand to reimburse property insurers for losses when ...
U.S. Insurers Open to More Risk and AI Use in 2024 Investments: Survey
More than half (62 percent) of U.S. insurers are willing to take on more investment risk in 2024 despite mounting concerns about election year politics, fiscal and monetary policy, as well as ...
Unhappy Workers Cost U.S. Businesses $1.9T
Disgruntled employees cost U.S. companies an estimated $1.9 trillion in lost productivity last year, according to research from Gallup that puts a price tag on workplace unhappiness. That eye-popping ...
Oral Arguments Begin in SEC Case That Could Define Cryptocurrency Regulation
The world's largest crypto exchange Binance and the U.S. Securities and Exchange Commission (SEC) kicked off their oral arguments before a federal judge in Washington, D.C., yesterday, in a ...
GM Financial Rebranding OnStar Insurance as General Motors Insurance
GM Financial said it is rebranding its OnStar Insurance to General Motors Insurance, with plans for market expansion. During 2023, the GM Insurance unit shifted from an agency model to a full-stack ...
New FEMA Rules Aim to Cut the Red Tape of Disaster Recovery
Anyone who has lived through a natural disaster and then applied to the federal government for assistance knows that it can be a lengthy, frustrating and bureaucratic process. New rules announced ...