News
U.S. Acts To Stem Financial Fallout From SVB Bank Collapse; Depositors Made Whole
Silicon Valley Bank customers will have access to their deposits starting on Monday, U.S. officials said on Sunday, as the federal government announced actions to shore up deposits and stem any ...
SVB Collapse Explained: What Caused Silicon Valley Bank’s Failure?
SVB Financial Group Inc.'s shutdown and takeover by banking regulators on Friday can be traced to the U.S. Federal Reserve raising interest rates and souring the risk appetite of investors. Here is ...
Silicon Valley Bank Seized by U.S. Regulators
U.S. regulators rushed to seize the assets of Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of a financial institution since Washington Mutual collapsed at the ...
U.S. Chamber of Commerce Calls for Regulation of AI
The U.S. Chamber of Commerce on Thursday called for regulation of artificial intelligence technology to ensure it does not hurt growth or become a national security risk, a departure from the ...
2022 In Review: It Was Bad
The year 2022 is in the books for most U.S. property/casualty insurers as the days tick down to statutory filing deadlines. Putting the numbers together, AM Best revealed just how bad the aggregate ...
Lloyd’s 2022 Underwriting Results ‘Strong’ Despite Bottom-Line Red Ink
Lloyd's reported an interim full-year 2022 loss before tax of $947.6 million (£800 million ) as a result of investment losses of approximately $3.6 billion (£3 billion). This compares to a profit ...
American Family Insurance Group Underwriting Loss Triples to $1.5B in 2022
Earlier this week, American Family Insurance report a 2022 net underwriting loss of $1.5 billion in its property/casualty lines, up from an underwriting loss of $460 million in 2021. The company ...
Florida Senate Committee Approves Tort-Reform Bill, but Changes Are Possible
A Florida bill that aims to further limit injury and insurance litigation and attorney fees passed a state Senate committee Tuesday after heavy debate – but with few amendments at the opening day ...