News
New Regulations Impacting Small Businesses Next Year
Regulations are a double-edged sword. They're created to improve business dealings, discourage unfair or illegal business activity, and protect workers. But, for small business owners, they often ...
Global Insured Losses From Severe Convective Storms Hit New High of $60B: Swiss Re
Global insured losses from severe thunderstorms have hit a new all-time high of $60 billion in 2023, with overall natural catastrophe claims surpassing $100 million, according to Swiss Re Institute ...
For years, the insurance industry has been working to reduce the friction that slows down underwriting, claims, and servicing. Now,...
AXIS Gets In-Principle Approval to Launch Energy Resilience Syndicate at Lloyd’s
AXIS Capital Holdings Ltd. announced it has received in-principle approval from Lloyd's to launch a syndicate that will focus on providing capacity for new energy projects with a critical role in ...
US DOJ Slaps Criminal Fines on UK Brokers Tysers and H.W. Wood for Bribery
The U.S. Department of Justice has slapped criminal penalties on UK reinsurance brokers Tysers Insurance Brokers Ltd. and H.W. Wood Ltd. as a result of their participation "in a corrupt scheme to pay ...
Lack of Autopilot Safeguards Leads to Tesla Recall of 2M Cars in the U.S.
Tesla is recalling just over two million vehicles in the United States fitted with its Autopilot advanced driver-assistance system to install new safeguards, after a safety regulator said the system ...
Survey: 70% of Americans Are Reviewing Insurance Policies as Premiums Rise
Extreme natural disasters, supply chain issues and runaway litigation are contributing to rising insurance premiums, leading the majority of Americans to re-examine their insurance policies, ...
Tech Giants Divided on Whether AI Will Be Open-Sourced or Closed
Tech leaders have been vocal proponents of the need to regulate artificial intelligence, but they're also lobbying hard to make sure the new rules work in their favor. That's not to say they all want ...
Rising War Risks Prompt Insurers to Reassess Property Cover in Geopolitical Hot Spots
Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots. Political ...