March 5, 2024
Reinsurance NewsAs per a report from analysts at BMO Capital Markets, a prominent reinsurance broking executive from Howden Tiger has suggested property-catastrophe reinsurance pricing power will fall 5-10% at mid-year contract renewals. The comments from the Howden Tiger executive were reportedly […]
March 5, 2024
JD SupraOn 27 December 2023, The New York Times filed a lawsuit against OpenAI and Microsoft alleging copyright infringement in connection with OpenAI’s popular ChatGPT technology. This lawsuit is part of the first wave of artificial-intelligence-related lawsuits that have targeted some […]
March 4, 2024
Reinsurance NewsInigo Limited (Inigo), a specialist insurance company, has recently announced its partnership with Samsara, an Industrial Internet of Things (IoT) firm. Together, they aim to revolutionise insurance solutions for US companies with large automotive fleets. Inigo plans to utilise Samsara’s […]
February 29, 2024
Insurance JournalCoverdash, which offers embedded commercial insurance technology with products for startups and small-to-medium businesses, announced $13.5 million in Series A funding. Coverdash’s technology package allows businesses such as payroll, payment, lending, human relations and website creators the ability to offer […]
February 29, 2024
Artemis BMCyberCube, a specialist modelling firm for cyber risks and exposures, has analysed the four 144A cyber catastrophe bonds that have been issued to date and found that there is diversification between them, which it says means these first deals provide […]
February 29, 2024
Artemis BMThe global reinsurance market pricing cycle is peaking and rising levels of both traditional and alternative capital is one driver, but still the market remains very attractive and profitable growth opportunities persist, according to Fitch Ratings. Fitch notes that the […]
February 27, 2024
Reinsurance NewsIn the latest update from Gallagher Specialty on the global property insurance market, significant shifts are noted, particularly in the USA region. Reports indicate smoother treaty renewals towards the end of the year, with reinsurers largely maintaining high attachment points […]
February 26, 2024
Insurance JournalHackers working for the ‘Blackcat’ ransomware gang are behind the outage at UnitedHealth’s technology unit that has snarled prescription deliveries for six days, two people familiar with the matter told Reuters on Monday. The problems began last week after hackers […]
February 23, 2024
Insurance JournalAn Iowa school board has reached an agreement resolving a lawsuit over a now-rescinded district policy that allowed students to request a gender support plan to begin socially transitioning at school, without the permission of their parents. Linn-Mar Community Schools’ […]
February 23, 2024
Reinsurance NewsIn a joint effort to address the pressing issue of maritime sustainability, marine insurance experts are calling for closer collaboration with shipowners to develop decarbonisation strategies. A white paper, co-authored by underwriting firm Atrium and Bayes Business School (formerly Cass), […]
Financial, InsurTech, Risk Management
February 22, 2024
Insurance JournalInsurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and […]
February 22, 2024
Reinsurance NewsEuropean re/insurer Zurich has made some adjustments to its reinsurance coverages for 2024 with the addition of a new $300 million top catastrophe layer to its Europe all perils tower, while the retention on its U.S. all perils tower has […]
February 21, 2024
Reinsurance NewsIn the latest report by Fitch Ratings, the insurance industry in the United Arab Emirates (UAE) is depicted as steadily advancing, with notable improvements in various sectors. Despite facing challenges in 2022, particularly in the motor insurance segment, the industry […]
February 21, 2024
Repairer Driven NewsA California lawsuit filed against National General claims the insurer terminated policies post-collision for unrelated reasons, leaving claimants to foot the property damage and repair bills. NBC 7 reports Andy Nguyen, of San Diego, was involved in a collision while […]
February 20, 2024
Insurance JournalUber Technologies last Friday sued an auto insurer to have it defend and indemnify it regarding multiple lawsuits that are seeking to hold Uber vicariously liable for accidents involving Uber drivers in New York. The technology company maintains that the […]
February 20, 2024
Reinsurance NewsIn response to the looming threat of recession, European insurance industry leaders are doubling down on their digitalisation initiatives to enhance customer experiences and streamline operations, according to a recent survey conducted by Information Services Group (ISG). The survey, titled […]
February 19, 2024
Artemis BMThe catastrophe bond market saw a more stable pricing environment in the fourth-quarter of 2023, as the trend towards tighter pricing that had begun earlier in the year slowed down, Aon Securities has said. In the latest report from the […]
February 19, 2024
Repairer Driven NewsA Washington class action lawsuit claims USAA uses a computer program made by a CCC company to arbitrarily reduce or deny personal injury protection and/or medical payments, Washington Superior Court for Clark County documents say. The suit, filed in November, […]
February 16, 2024
Insurance JournalSouth Africa’s President Cyril Ramaphosa said on Thursday that he planned to sign into law a National Health Insurance (NHI) bill that aims to provide universal health coverage to South Africans, although he did not give a time frame. The […]
February 16, 2024
Insurance JournalThe Maryland Insurance Administration (MIA) is warning of an insurance-related scam targeting small painting, construction, and cleaning businesses. The fraudulent offers may be received by email, text message, or phone call. MIA advises businesses that are contacted by anyone offering […]