Category: News

December 1, 2023

Global credit ratings agency AM Best has confirmed that it is maintaining a stable outlook on Vietnam’s non-life insurance segment. The agency cities premium growth and regulatory enhancements that strengthen risk management and corporate governance, as the key factors contributing […]

November 30, 2023

The aerospace insurance market is poised for growth, with an expected increase of US$763.67 million from 2022 to 2027. During this forecast period, the market is projected to advance at a compound annual growth rate (CAGR) of 4.36%. A new […]

November 28, 2023

BCS Financial has expanded its stop loss and reinsurance offerings to include new payer solutions in response to the growing gene therapy pipeline. Peter Costello, BCS President & Chief Executive Officer, commented, “Gene therapies offer the promise of potential cures, […]

November 27, 2023

PYREG, a German NetZero Tech company and specialist for high-tech biochar carbon removal and Kita, the global carbon insurance specialist, have established a memorandum of understanding (MOU) on the development of the world’s largest durable biochar carbon removal project pool. […]

November 16, 2023

Pen Underwriting, an Arthur J. Gallagher & Co. subsidiary, has launched a new flexible intellectual property (IP) cover to protect against rising risk of infringement. The launch follows Pen’s investment earlier this year to create a dedicated new IP underwriting […]

November 15, 2023

AM Best does not believe artificial intelligence is the main cause of recent insurance industry layoffs. In commentary released today, the credit rating agency wrote that “it is too soon to cite AI as the leading cause of the job […]

November 14, 2023

California has yet to stem the tide of companies exiting its embattled insurance market as four Kemper Corp. subsidiaries recently revealed plans to not renew home and auto policies starting 2024. The four companies – Merastar Insurance, Unitrin Auto and […]

November 14, 2023

In a recent study, global specialty (re)insurance group Chaucer has identified significant shifts in North American wildfire risk patterns, particularly in regions previously deemed ‘low-risk.’ The report reveals that areas such as the Appalachians, Southern Rockies, Alberta and British Columbia, […]

November 9, 2023

Four years ago, when Trey Ferro (pictured) founded a pet insurance business, he boldly went directly to the consumer, competing with well-established insurers such as Nationwide and State Farm. Ferro started Spot Pet Insurance when the penetration rate for the […]

November 8, 2023

DOXA Insurance Holdings announced it has entered into a definitive agreement to be acquired by Goldman Sachs Asset Management. The Fort Wayne, Indiana-based MGA said the investment will help fuel its ongoing acquisition strategy in addition to its organic growth […]

November 6, 2023

Insurance Business has unveiled America’s best professional liability insurance providers and brokers for 2023, companies and individuals that remained in step with the industry’s needs while delivering for their partners despite the rapidly evolving market. Insurance Business America (IBA) identified […]

October 24, 2023

Vesttoo Ltd. creditors are seeking to take control of the bankrupt Israeli startup’s court proceedings, arguing the company should liquidate following revelations that its former executives helped create fraudulent documents that supported transactions on its platform. A committee of Vesttoo […]

October 23, 2023

Ping An Insurance (Group) Company of China, Ltd. has noted it continues to make strides in the realm of environmental conservation and ESG (Environmental, Social, and Governance) investment by utilising insurance as a catalyst for change. In a groundbreaking move, […]

October 17, 2023

Brookfield Reinsurance is considering entering Britain’s pension insurance industry and is “open to an acquisition to bolster growth,” according to a new report from Reuters. Citing people familiar with the matter, Reuters said that Brookfield’s reinsurance affiliate is “scanning the […]

October 16, 2023

You should feel the burn and sweat when you hit the gym – but your clients shouldn’t sweat it if they’re the ones who need to insure their health club. So when it comes time to sit down and help […]

October 16, 2023

National Western Life Group, Inc., the parent organization of National Western Life Insurance Company, and Prosperity Life Group have announced the signing of a definitive Merger Agreement whereby S. USA Life Insurance Company, Inc. (SUSA), an affiliate of Prosperity Life […]

October 16, 2023

Tampa-based Slide Insurance, which has made a practice of assuming Florida policies from other insurers in the last two years, said it has acquired renewal rights to 86,000 homeowner policies from Farmers Insurance. Farmers said in June that it would […]

October 3, 2023

Americans are overwhelmingly uncomfortable with the thought of dealing with AI insurance agents – good news for the country’s 1.6 million human insurance agents, according to a recent survey by online insurance agency GetSure. “AI is coming to insurance distribution […]

September 29, 2023

In February, Nationwide Mutual Insurance filed notice with the North Carolina Department of Insurance that it would non-renew some 10,525 homeowner policies in the state due in large part to the growing risk from climate change and hurricanes. The move […]

September 26, 2023

Customers in Florida are more dissatisfied with their homeowners’ insurance than customers in any other state, according to a new report from Clearsurance.com. The report found that Florida homeowners deal with several issues that make homeowners’ insurance more complicated than […]