News
RLI: 26 Straight Years of Underwriting Profit
RLI's 2021 fourth-quarter represented Chairman Jon Michael's last quarter at the helm of the specialty insurer as chief executive officer. Craig Kliethermes, who took the reins as president and CEO ...
Ascend Raises $30M Series A, Secures $250M Lending Commitment
Insurance payments platform Ascend raised $30 million in Series A equity funding, bringing its total funding raised to $39 million along with a $250 million lending commitment to finance insurance ...
InsurTech Descartes Underwriting Raises $120M to Expand Parametric Product Offering
Descartes Underwriting, the InsurTech company that specializes in parametric natural catastrophe products, has announced a $120 million Series B funding round. Growth equity firm Highland Europe is ...
Florida Senator Tries Cat Fund Changes to Cut Cost of Property Insurance
Seeing no action on bills that would address Florida's spiraling property insurance problems head-on, one state senator took a different route Thursday and proposed reducing insurers' payments to the ...
Crop Insurance Payouts Have Risen Sharply Due to Droughts, Floods
Insurance payments to U.S. farmers for crops lost to droughts and flooding have risen more than threefold over the past 25 years, according to an analysis of federal data by the Environmental Working ...
The Latest Launches From WTW, Colonial Surety, Archipelago
WTW formed its CyberCrime task force within its financial, executive and professional risks (FINEX) global practice. The CyberCrime task force is dedicated to understanding the intricacies of cyber ...
U.S. Drivers Divided Over Speed Cameras: Erie Insurance
Half of U.S. drivers support the use of speed cameras while more than a third oppose them, according to a recent survey commissioned by Erie Insurance. However, many opponents said they would change ...