News
Travelers to Buy Cyber MGU Corvus for $435 Million
The Travelers Companies said it has agreed to buy cyber managing general underwriter Corvus Insurance Holdings Inc. for about $435 million for its middle-market excess and surplus lines ...
Despite Hard Market, P/C Combined Ratio Forecast at 104 for 2023
Losses resulting from severe convective storms seen this year are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting ...
When MGAs manage a high volume of insurance submissions, underwriting speed often depends on what happens before an underwriter ever...
Property Insurers to Provide Data to State Insurance Regulators to Better Understand Rates
A nationwide data call was put out recently to property insurers to assist state insurance regulators in better understanding property markets, coverages and protection gaps, according to the ...
Near Misses Subject of U.S. Senate Aviation Safety Hearing
The U.S. Senate Commerce Committee will hold a hearing next week on a series of troubling close-call aviation safety incidents that raised questions about Federal Aviation Administration air traffic ...
NTSB: Railroad Automatic Braking System Needs Upgrades to Prevent Derailments
The automatic braking system railroads were required to install several years ago needs improvement to better prevent collisions, federal safety investigators said in a report Wednesday. The National ...
Lemonade Expects to Be in the Black Within Three Years
While Lemonade is still burning cash and reported a net loss on the bottom line of its third-quarter income statement, the InsurTech expects both situations to reverse by year-end 2026. The cash ...
Allstate Shows ‘Progress,’ Narrows Q3 Net Income Loss to $41M
Allstate Corp. said its net loss for the third quarter was $41 million compared to a loss of $685 million during the same time a year ago. The Northbrook, Ill.-based insurer recorded an improvement ...
AIG General Insurance Income Up 82.7% in Q3 on North America Gains
American International Group (AIG) during the third quarter recorded a 264 percent increase in underwriting income within its General Insurance segment to $611 million as adjusted pretax income in ...