Symetra Life Insurance Co. has revealed possibly compromised customer data due to unusual activities detected on its customer portal over a six-month period. This unsettling discovery highlighted the reality of potential data breaches, prompting Symetra to notify the Massachusetts Attorney
Navigating the complexities of running a commercial business involves managing high expectations and inherent uncertainties. Leaders often face challenging decisions with limited data, making the selection of a reliable insurance partner crucial for mitigating risks and ensuring operational
Swiss Re, a leading provider of reinsurance and insurance-linked financial solutions, reports that supply chain disruptions have cost organizations an average of $184 million annually. These disruptions are a significant concern for businesses worldwide. The recent years have shown the
The global homeowners insurance market is set to undergo significant expansion, with projected growth estimating a market size of US$366.8 billion by 2030, up from US$240.5 billion in 2023. This accelerated expansion, driven by technological advancements, shifting consumer behavior, and increasing
HOMEE, an Artificial Intelligence-driven direct repair network tailored for the Property and Casualty (P&C) insurance industry, has made a significant leap forward by successfully closing a Series C funding round, securing $12 million. This funding endeavor was headed by W.R. Berkley Corporation
Arch Capital Group Ltd has garnered substantial attention as it has been named the fastest-growing firm among the world's largest property and casualty insurers by S&P Global Market Intelligence. Based in Bermuda, Arch Capital saw a significant boost in its gross premiums earned, reaching $17.02
HCF, a prominent insurance firm, found itself under the legal microscope after a court ruling highlighted potential misleading conduct regarding its health insurance policies. The legal scrutiny arose from HCF falsely asserting that customers with pre-existing conditions could be denied coverage
In 2024, the cyber insurance sector saw growth and increased competition. This change helped lower the premium increases that had happened in previous years. The average rate increase fell to 1.6% in the latest quarter, down from 20% a year ago . Risk carriers have a better understanding of price
The reinsurance landscape is undergoing significant transformations, driven by factors such as escalating natural catastrophes, economic volatility, and emerging risks. Munich Re stands out amid these shifts, consistently recalibrating its strategies to maintain balanced risk-sharing and uphold a
As technology continues to advance at a rapid pace, its impact on various sectors has been profound, none more so than the Delegated Underwriting Authority Enterprise (DUAE) segment within the insurance industry. Dawn Walker, AM Best's associate director for Industry Relations – DUAE, recently
