Insurance Journal RSS feed

Tampa-based Slide Insurance announced it has finalized a $250 million catastrophe bond through Purple Re Ltd., expanding Slide’s hurricane protection in Florida and South Carolina. “Securing cat bonds over the past couple of years and building our reinsurance tower has …

Hedge fund Fermat Capital Management expects the market for catastrophe bonds to grow 20% this year, as a product based on disasters gains ground in a world increasingly shaped by extreme weather, population density and inflation. The market “has reached …

Coinbase Global Inc. said hackers bribed contractors or employees outside the US to steal sensitive customer data and demanded a $20 million ransom, in one of the most high-profile security breaches of a crypto trading platform. The largest US crypto …

Workers’ compensation remained a healthy and profitable line in 2024 but claims severity grew with an increase of 6% for medical claim severity and 6% for indemnity claim severity. That’s according to the National Council on Compensation Insurance (NCCI)’s annual …

Xiaomi Corp. electric vehicle sales in China have taken a hit since March after a fatal highway accident and consumer unhappiness around the marketing of one version of its car. Orders for Xiaomi’s SU7 sedan plunged to around 36,000 units …

French President Emmanuel Macron said on Thursday that getting European regulation to be more in sync with the United States and the United Kingdom was one of his priorities for the banking and insurance sectors. Speaking at JPMorgan’s markets conference …

With combined ratios for personal and commercial lines landing only 0.4 points apart last year, the property/casualty insurance industry’s aggregate 2024 combined ratio was 96.5—marking the lowest figure since 2013, a new report shows. Fine-tuning a slightly higher industry aggregate …

It’s not just a few Florida-domiciled insurance carriers that have allegedly altered field adjusters’ reports on property damage in recent years. It’s also major national insurers, according to adjusters and policyholders who spoke at a U.S. Senate hearing marked by …

Inland marine managing general underwriter TIMBY Specialty Insurance Solutions launched its Warehouse Legal Liability Coverage, a product specifically for public and contract warehouses that handle third-party property. With limits up to $5 million per location, WHLL offers options covering additional …

In the coming weeks, investors in nine public companies worth at least $1 billion each will vote on proposals to ditch Delaware as their place of incorporation, potentially denting the state’s longtime reputation as Corporate America’s capital, Reuters has found. …

Paul Roberts joined Alliant Insurance Services, headquartered in Irvine, California, as senior vice president within its employee benefits group. Based in Boston, Massachusetts, the consultant has expertise in employee benefits, risk management and retirement consulting to service a diverse national …

Capital One was sued on Wednesday by New York Attorney General Letitia James, who accused the bank of cheating depositors with its flagship “high interest” savings accounts out of millions of dollars in interest. The lawsuit followed the U.S. Consumer …

A technological glitch caused an emergency alert to be mistakenly sent to millions of Los Angeles County residents in January rather than only those in the proximity of a wildfire, according to a congressional report. The mistaken alert on Jan. …

Alphabet’s Waymo is recalling more than 1,200 self-driving vehicles to update software and address risks of collisions with chains, gates and other roadway barriers after U.S. auto safety investigators opened a probe last year. The recall affects 1,212 Waymo vehicles …

More than 200 firefighters battled a massive blaze that broke out at a west Baltimore warehouse, disrupting Amtrak service in the area and prompting officials to move dozens of area residents. Commuter rail service was canceled Tuesday amid fears the …

Written premiums in California stabilized in 2022 through 2024 after the large swings during the pandemic, while the combined ratio rose to the highest level in 14 years, a new report shows. The Workers’ Compensation Insurance Rating Bureau of California …

German Insurtech wefox has agreed to sell its Italian businesses, wefox MGA S.r.l. and wefox Services Italy S.r.l., to U.S. private equity firm J.C. Flowers & Co. Financial details of the deal were not disclosed. Founded in 2015, wefox has …

Missouri’s attorney general sued a natural gas company Monday over the explosion of a home in a small town that killed a 5-year-old boy, accusing the utility of violating a state safety law. Attorney General Andrew Bailey’s lawsuit came less …

Texas Attorney General Ken Paxton last week announced a judgment of more than $60 million against David Polston and his companies, Inland Environmental and Remediation, Inland Recycling, and Boundary Ventures, for allegedly dumping pollutants in Texas waterways and lands. In …

A Michigan county has settled a lawsuit over an elected official who flashed a rifle during a COVID-19-era public meeting on Zoom. Patricia MacIntosh accused Ron Clous of trying to silence her right to free speech when he displayed the …