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Insurance news provides updates on industry trends, regulations, and innovations. It covers topics such as new insurance products, market developments, and insights into risk management, offering valuable information for policyholders and industry professionals alike.
Jewelers Mutual Expands into Pawn Industry with New Acquisition
Jewelers Mutual Group has announced the acquisition of Union Life & Casualty Insurance Agency (UL&C), marking its entry into the...
Read moreTyphoon Gaemi Insurance Claims Set to Surge Beyond COVID-19 Levels
Insurance providers are bracing for a surge in claims surpassing those witnessed during the COVID-19 pandemic, driven by property damage...
Read moreIUA Expands with New Members as London Insurance Market Thrives
The International Underwriting Association (IUA), a key trade body for the London insurance market, has announced the addition of three...
Read moreMSI China Maintains Strong Capital Buffers in 2024
Mitsui Sumitomo Insurance China (MSI China) is poised for a stable outlook in 2024, continuing its critical role within the...
Read moreInnovative 3D Scanning Revolutionizes Maritime Insurance
By leveraging cutting-edge technology, maritime insurance processes are undergoing a transformative shift. Artyom Yukhin, CEO of Artec 3D, highlights that...
Read moreInsurance Authority Takes Over Tahoe Life Amid Financial Difficulties
In response to ongoing financial instability at Tahoe Life Insurance Company, the Hong Kong Insurance Authority (HKIA) has taken decisive...
Read moreRising Mortgage and Insurance Costs Drive Household Inflation Up
Household inflation surged by 5.4% in the year ending June 2024, driven largely by increased mortgage repayments and higher insurance...
Read moreAsian Insurance Rates Decline in Q2 Amidst Heightened Competition
In the second quarter of 2024 (Q2 2024), Asia's insurance sector experienced a notable decline, with the composite rate falling...
Read moreBigmotor Fraud Scandal Uncovers Massive Insurance Claim Deception
The recent scandal involving Bigmotor, a now-defunct used car dealership, has unveiled a significant wave of fraudulent insurance claims. An...
Read moreInsured Losses from CrowdStrike Outage Estimated at $1.08 Billion
The recent CrowdStrike outage, which disrupted around 25% of Fortune 500 companies, is projected to result in insured losses ranging...
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OPTIS: Insurance M&A Falls 10%
As of the end of September 2024, the total number of insurance agency mergers and acquisitions (M&A) has decreased by...
Marsh: US Rates Up 3%
In the third quarter of 2023, commercial insurance rates in the U.S. experienced an overall increase of 3%, with casualty...
Progressive Ends Fire Insurance
Progressive Insurance has announced that it will discontinue offering dwelling fire insurance, commonly known as "landlord insurance," for non-primary residences...
Zurich Insurance Sets New Goals
Zurich Insurance Group AG has announced ambitious new targets for profitability and growth over the next three years, driven by...
4th Circuit: No Crypto Coverage
A recent ruling by the Fourth Circuit Court of Appeals has clarified that homeowners insurance policies do not cover the...
Safeco Buys Main Street
Liberty Mutual’s Safeco Insurance has announced a significant agreement to acquire the personal lines business of Main Street America, marking...
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