News
Africa Specialty Risks Gets ‘In Principle’ Approval to Launch Syndicate in 2024
Africa Specialty Risks (ASR), a pan-African focused insurance and reinsurance group, has received "in-principle" approval to launch a Lloyd's syndicate in 2024. The syndicate will be launched in ...
Porch Pirates Will Lead to $6B Loss This Holiday Season
An estimated $6 billion will be lost to Porch Pirates this year, according to new statistics released by home security tip company SafeWise. The sixth annual report provides insight into package ...
NICB: Staged Vehicle Accidents Top Fraud Trend in South Carolina
Staged auto accidents are the top fraud issue in South Carolina, according to new analysis released by the National Insurance Crime Bureau (NICB). South Carolina ranked 13th in the nation in terms of ...
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 ...