News
Record Q4 at Chubb Ends Historic, ‘Blowout Year’
Record fourth-quarter 2023 net income of $3.3 billion, a huge increase over net income of about $1.3 billion during the same period a year ago, ended what CEO Evan G. Greenberg called a "blowout ...
Report: 2023 Combined Ratio Forecast at 103.9, Commercial Lines Performed Best
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9, according to the latest underwriting ...
Shipment Misdirection Top Cargo Threat, Thefts Increased 59% in Q3 2023
There were 692 reported thefts of cargo across the United States and Canada in the third quarter of 2023, a 59 percent increase when compared to the third quarter of 2022, according to CargoNet. ...
Newly Launched U.S. Bitcoin ETFs Raise Concerns Over Financial System Risks
The launch of U.S. exchange-traded funds (ETFs) tracking bitcoin deepens ties between the volatile world of cryptocurrencies and the traditional financial system, potentially creating unforeseen new ...
Former U.S. Road Safety Chief Confident Agency Can Regulate High-Tech Vehicles
In the past 15 months, no one has been more responsible for safety on the nation's roads than Ann Carlson. For much of that time she has served as acting administrator of the National Highway Traffic ...
Appeals Court Rules Insurers Not Obligated to Defend Opioid Distributor McKesson
The role drug distributor McKesson Corp. had in the opioid crisis was no accident, meaning the company is not entitled to defense costs related to litigation against it. McKesson Corp. appealed a ...
Global Ransomware Attacks Reach Record High in 2023, Says Corvus
Despite law enforcement actions, fourth-quarter 2023 ransomware incidents still surpassed 2022 by nearly 70 percent, and the number of active ransomware groups grew by 34 percent. Corvus Insurance ...
Former Allianz Execs Raise Funds for Carbon Credit-Backed Insurance
An insurance startup founded by three former Allianz executives that aims to guarantee companies buying carbon credits get the permits they've paid for has closed the biggest European climate-focused ...