Chubb Limited today reported net income for the quarter ended June 30, 2023 of $1.79 billion, or $4.32 per share, and core operating income of $2.04 billion, or $4.92 per share.
Author: Annie George
Congress Wades Into Self-Driving Debate with New U.S. House Bills
Congress is wading into the debate over whether automakers should be allowed to sell hundreds of thousands of self-driving cars while manufacturers seek federal permission to expand testing of the technology.
El Niño Could Have a Significant Impact on Renewable Energy Production: WTW
The emerging El Niño could cause wind drought in North America, which would have a significant effect on renewable energy production in the region, says a new report launched today by WTW, a leading global advisory, broking, and solutions company.
Average Data Breach Cost Hits All-Time High of $4.4M: IBM
According to IBM’s annual Data Breach report, the average cost of a data breach has reached an all-time worldwide high of $4.45 million, up 2.3% from 2022 and 15.3% since 2020.
Oppenheimer Sued by More Investors for Losses in a $120M Ponzi Scheme
A lawsuit filed by 30 North Carolina residents has accused New York-based brokerage and investment bank Oppenheimer & Co. and two of its Atlanta-based managers of hiding the truth about a massive Ponzi scheme being run by its employees.
Severe Convective Storms Drive Above-Average 1H Catastrophe Losses
The first 6 months of 2023 saw above-average natural catastrophe losses, with many of those losses the result of severe convective storms, according to multiple analyses of first-half catastrophe activity.
1891 Financial Life Named One of the “World’s Best Life Insurance Companies” by Forbes
1891 Financial was named among the world’s best life insurance companies by Forbes.
Farmers Insurance Reverses Course on Homeowners Nonrenewals in Georgia
Farmers has reversed its decision to non-renew homeowners policies in Georgia, with no policyholders impacted at this time.
Facing Big Storm Losses, Insurers Aim to Boost Rates
A wave of severe storms that brought hail and high winds to places such as Texas and a string of states in the central U.S. in recent months is wreaking havoc on insurers’ profits.
Auto Insurance: The Uncertain Road Ahead
A new study “Auto Insurance: The Uncertain Road Ahead” released today by the American Property Casualty Insurance Association (APCIA), reveals that insurance claims inflation has continued to rise faster than the underlying consumer price index (CPI), far outpacing increases in auto insurance premiums.