News
Global Insurance Prices Continue to Stabilize in Q3 as U.S. Cyber Premiums Drop: Marsh
Global commercial insurance prices increased 3 percent in the third quarter of 2023, the same as the prior quarter, according to the Global Insurance Market Index released by insurance broker Marsh, ...
RenRe Completes $3.3 Billion Acquisition of Validus Re From AIG
RenaissanceRe Holdings Ltd. announced it has concluded its acquisition of Validus Re, the treaty reinsurance business of American International Group. AIG received total consideration of $3.3 billion ...
Tech Bytes: New Partnerships at ZestyAI, WTW, Driver Technologies
Climate and property analytics provider ZestyAI's Z-FIRE wildfire risk analytics product is going to be used by the California FAIR Plan Association, the state's property insurer of last resort, to ...
Progressive in a Better Place With Reserve Boosts Done, CEO Says
Shoring up loss reserves and adding "the premium equivalent" of a top 8 personal auto insurer to its books has put Progressive in a better place now than it was at the end of the second quarter. The ...
Allianz X, Allstate Fund NEXT Insurance’s $265M Financing Round
The digital investments arm of global insurer and asset manager Allianz Group, Allianz X, announced an investment in NEXT Insurance, a small business insurer in the United States, to accelerate ...
First U.S. Autopilot Trial Involving Fatal Crash a Win for Tesla
Tesla on Tuesday won the first U.S. trial over allegations that its Autopilot driver assistant feature led to a death, a major victory for the automaker as it faces several other lawsuits and federal ...
Thousands Evacuated in Southern California as Santa Ana Winds Fuel Wildfire
A wildfire fueled by gusty Santa Ana winds ripped through rural land southeast of Los Angeles, forcing about 4,000 people from their homes, fire authorities said. The so-called Highland Fire erupted ...
Threat of Haywire AI Prompts Calls for Development Pause, AXA Says
Governments are ill-prepared for the hazards brought on by artificial intelligence and development should be paused, according to a new survey of risk specialists by insurance company AXA SA. Only 7 ...