Ransomware Hackers Stole More Than $1 Billion in 2023
Ransomware gangs stole more than $1 billion in 2023, the largest amount ever recorded, according to a report published Wednesday by blockchain analysis firm Chainalysis ...
Industry News
Top AI Trends for Insurers in 2024 Include Claims, Other Insurance Processes
Insurers are prepared for artificial intelligence to move beyond task automation and machine learning to advanced uses in 2024, a new report examining the industry and ...
AM Best Revises Outlooks to Negative for Amica Mutual
Insurance rating firm AM Best has revised the outlooks to negative from stable and affirmed the superior credit ratings of Amica Mutual Insurance Co. and its subsidiary, Amica Property and Casualty ...Chubb Writing More Personal E&S, but CEO Greenberg Doesn’t Like the Trend
Chubb is writing more North American personal excess and surplus lines business, but the insurer's chief executive is not exactly celebrating. While he reminded analysts during a fourth-quarter ...
Florida Bills Would Let Surplus Lines Do Takeouts and Require More Data Reporting
A key Florida Senate committee last week advanced a bill that would allow surplus lines carriers to take over coverage of second homes from Citizens Property Insurance Corp. Reaction by agents and ...
Liberty Mutual to Eliminate 250 Positions
Liberty Mutual has confirmed it is eliminating about 250 positions, or 0.5 percent of its global workforce, as it continues implementing new organizational structures within U.S. Retail Markets and ...
InsurTech Wisedocs Closes $9.5M Series A Round
Wisedocs, a machine learning software-as-a-service for medical record review, indexing and summarization, closed $9.5 million in oversubscribed Series A financing. The Series A was led by Information ...
The Latest Launches from Hub International, CoverForce
Hub International Limited, announced the launch of HUB Multinational Protection, a risk management services and insurance product tailored to the evolving complex risk needs of multinational clients ...
Small Business Focused InsurTech Rainbow Announces $12M Seed Round
Rainbow, a digitally-enabled managing general underwriter offering tailored small business insurance products, has announced $12 million raised in seed funding with participation from Caffeinated ...