News
Secondary Perils Are Increasing Share of U.S. Catastrophe Losses
Secondary peril events such as wildfires, tornadoes and severe thunderstorms are becoming more impactful and generating an increasingly larger amount of insured losses, affecting the bottom lines of ...
Sayata Brings Total to $52M With Latest Raise in Funding Round
Sayata, a marketplace for insurance brokers and carriers, added $35 million to its latest funding round. The InsurTech previously raised $17 million five months ago, resulting in a total A round of ...
Data Points: Attorney Impact on Commercial Auto Losses
Commercial auto insurance loss severity rose about 5 percent per year during the five-year period ending 2019, as the proportion of claims that had attorney involvement increased to nearly 30 ...
Why ADAS Drives Claims Severity Higher (It May Not Be What You Think)
When auto insurance executives talk about claims severity trends across the industry, a common theory they advance is that repairs on vehicles with expensive advanced driver-assistance systems ...
Tech Bytes: New Partnerships at Co-operative Insurance Companies, BTV, RepairPal
Betterview, an InsurTech serving property/casualty insurance companies, announced that Co-operative Insurance Companies selected Betterview's Remote Property Intelligence Platform to help reduce ...
Data of 515,000 People at Risk After ‘Sophisticated’ Hack of Red Cross
The International Committee of the Red Cross said that personal data of 515,000 vulnerable people were compromised in a "sophisticated" hack. The cyber attack targeted a contractor in Switzerland ...
Shell Appeals $2 Billion Court Judgment in Nigerian Oil-Spill Case
A Nigerian court will hear Royal Dutch Shell Plc's appeal to overturn an almost $2 billion award against the company for allegedly spilling oil in the West African country. The energy giant is ...
Root Implements Organizational Realignment, Lays Off 330 Employees
Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, announced yesterday that it has laid off approximately 330 team members throughout its business. Co-Founder ...