News
GEICO Lays Off 6% of Workforce; Will Require More In-Office Time
In a letter to employees, GEICO president and chief executive officer Todd Combs said the Berkshire Hathaway company is laying off 2,000 associates, or about 6 percent of the workforce. "This will ...
U.S. Severe Convective Storms Drive Record $50B Insured Losses in 2023
Global insured losses from natural disaster events for the first three quarters of this year reached $88 billion, according to Aon's latest Q3 Global Catastrophe Recap report. The figure is 17 ...
Warming Oceans Causing Atlantic Hurricanes to Rapidly Intensify
With warmer oceans serving as fuel, Atlantic hurricanes are now more than twice as likely as before to rapidly intensify from wimpy minor hurricanes to powerful and catastrophic, a study said ...
Supply Chain Risk Heightened by Climate Threats
Since acute and chronic climate risks, like floods and droughts, threaten damage and disruption to supply chains across critical industries, including the semiconductor manufacturing sector, it's ...
Study: Burnout, Lower Employee Health Benefits Could Lead to Exits
U.S. employers across various industries and regions are struggling to meet their employees' health care benefits needs—and employee satisfaction, wellbeing and retention are at stake, according to ...
Improved Auto Insurance Results Coming—But Not Soon Enough: S&P GMI
Strong rate hikes fueling nearly a 16 percent in direct written premiums for U.S. private passenger auto insurers will bring the industry combined ratio down from a "worst-in-decades" result for ...
SEC Clamping Down on Compliance Breaches Via WhatsApp, Zoom
With text messages and emails under tightened surveillance, financial firms may now have to screen staff video calls for possible rule-breaking, amid concern regulators are poised to scrutinize such ...
‘Strong’ Commercial Hikes to Continue; Cats, Asbestos Dent Travelers Earnings
Commercial insurance was a bright spot on the third-quarter earnings picture for The Travelers Companies, with strong pricing fueling a record top line and a "best-ever" underlying combined ratio in ...