Industry News
Continued Growth for Surplus Lines in 2023 as Premiums Up 14.6%
The excess and surplus lines market continued to grow in 2023, with premium reaching nearly $73 billion, according to data from 15 state surplus lines offices released by the Wholesale & ...
The Art of Managing Cyber Risk for Museums
Cyber attacks are a concern for many industries, and the museum sector is no exception. As more museums and cultural institutions are using technology to display digital works, manage internal ...
Jacobson: Survey Shows ‘Significant Pause’ in Industry Job Growth
More than half of insurance companies expect to increase staff in the next year, according to the latest labor market study from Aon and the Jacobson Group. Meanwhile, 77 percent of carriers expect ...
Federal Trade Commission Reports Nationwide Fraud Losses Topped $10B in 2023
Consumers reported losing more than $10 billion to fraud in 2023, marking the first time that fraud losses have reached that benchmark, and a 14 percent increase over reported losses in 2022, newly ...
The Odds of a Hurricane-Boosting La Niña This Year Are Rising
The odds of a La Niña weather pattern this year are rising, amplifying the risk of hurricanes in the Atlantic and drought in California and South America.
The new chief of the World Meteorological Organization said it looks to her that the rate of human-caused climate change is accelerating and that warming has triggered ...
AM Best Says Losses From California Storms Largely Uninsured, Underinsured
The economic losses from the latest round of California storms will be significant, and many of these losses may not be insured because only 2 percent of California residents have purchased flood ...
Allstate Reverses Q4 Loss With Benefit of Low Cat Losses, Auto Rate Increases
Allstate Corp. fourth-quarter 2023 net income attributable to common shareholders was about $1.5 billion, reversing a loss of $303 million during the same time the prior year. Allstate CEO Tom Wilson ...
New UN Weather Agency Chief Says Rate of Global Warming Is Speeding Up
AXA’s CEO Buberl Wants to ‘Scale Up’ Corporate Business
AXA SA's Chief Executive Officer Thomas Buberl says he intends to "scale up" the firm's business insuring corporate risks in the next phase of the firm's growth. "In a highly volatile and highly ...