News
Travelers Beats Profit Estimates on Record Premium Growth
Travelers Companies Inc. reported a smaller-than-expected fall in quarterly profit on Thursday, as record premium growth cushioned a hit from higher catastrophe-related claims and lower returns on ...
Allianz Notes Rising Business Interruption Costs in Global Claims Report
The number of contingent business interruption claims more than tripled in 2021 as a deep freeze in Texas shut down much of the state's power grid and a fire at a semi-conductor plant in Japan ...
Inside Out: How Exit Crime, Insider Threats Create Challenges for Insurers
There has been a lot of talk about how insurance companies are increasingly falling victim to outside cyber attacks, but the risk of insider threats can be just as scary and perhaps a little more ...
Report: Growth in Ransomware Affecting Cyber Underwriting Performance
An increase in ransomware attacks has factored into the deterioration of cyber insurance underwriting performance during the past two years, according to a report from The Geneva Association. The ...
Jury Verdict: Tesla 1% Negligent In Fatal Model S Crash
A Florida jury found electric car maker Tesla Inc. to be 1 percent negligent in the death of an 18-year-old man whose Model S sedan slammed into a concrete wall after the car's speed limiter had been ...
Hippo Intends Reverse Stock Split After NYSE Non-Compliance Notice
Hippo Holdings Inc. announced that it intends to file a proxy statement with the Securities and Exchange Commission that includes a proposal for a reverse stock split. This move comes in connection ...
Calif. Court Breaks String of COVID Biz Interruption Case Wins For Insurers
A California appellate court broke from its sister jurisdictions—as well as state and federal courts across the nation—and ruled that a hotel owner's lawsuit seeking coverage for a COVID-19 ...
SEC Approves Demotech as Nationally Recognized Statistical Rating Organization
Insurance rating agency Demotech Inc. has become the 10th organization to named a Nationally Recognized Statistical Ratings Organization (NRSRO) by the U.S. Securities and Exchange Commission. With ...