The most challenging January reinsurance renewals in nearly two decades saw global property catastrophe rate increases of 25% to 60% with loss-affected clients seeing even higher prices, according to John Doyle, president and chief executive officer of Marsh McLennan Cos. …
As the nation reels from a week of high-profile shootings, a new report on mass attacks calls for communities to intervene early when they see warning signs of violence, encourages businesses to consider workplace violence prevention plans and highlights the …
Last year was a tale of two halves for insurance mergers and acquisitions. OPTIS Partners reports 987 agency mergers and acquisitions were announced in 2022 – down 8% from 2021. A significant rise in interest rates and economic uncertainty may …
The FBI on Thursday revealed it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting more than $130 million in ransomware demands from more than 300 …
Tesla Inc.’s electric vehicles are expensive to repair – so much so that the automaker and insurers are addressing the issue in sharply different ways. Chief Executive Elon Musk says Tesla is making design and software changes to its vehicles …
Industrial conglomerate Koch Industries received nearly $2.5 billion in dividend payments last year from its Georgia-Pacific unit, which had spun off a subsidiary that took on its liability from asbestos litigation and then filed bankruptcy to limit lawsuit payouts, according …
Flooding is the most common weather hazard globally and 83% of the damage it causes isn’t covered by insurance. A startup technology company on Thursday launched a new global flood-risk data service that its founders say will help narrow this …
The Golden Globes carpet typically glitters with crystal-studded gowns in pastel hues, but it looked different in January 2018: The ballgowns were black, and the night’s key accessory was a pin that read “Time’s Up.” Onstage, Oprah Winfrey brought guests …
Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon. Roughly 42% of economic losses were covered by public and private insurance entities, which translates into …
Embedded insurance – a concept in which insurance is wrapped into the purchase of a product at the point of sale – could exceed $70 billion in premium by 2030, according a new report by Conning. This is on par …