Google lost an antitrust case over the market power of its app store on Monday, a blow to the search giant as it faces other legal challenges to its search dominance and ad tech business.
Author: Annie George
Wildfires Remain Threat as Their Frequency Decreases
The potential insured losses resulting from U.S. wildfires are growing even as their frequency decreases because close to 99 million Americans reside in the wildland urban interface (WUI), according to the Insurance Information Institute (Triple-I).
Cyberattacks Now More Likely than Fires or Thefts: Aviva
More than a fifth of businesses in the United Kingdom said they experienced a cyberattack in the last year, but perhaps even more surprising is the fact that cyberattacks are now more common than either physical theft or fire, according to a recent survey from Aviva.
Hackers Stole About $1.7 Billion This Year from Crypto Projects
The amount of funds crypto projects lost to hackers has declined by about half to around $1.7 billion so far this year, amid improved security measures and an uptick in law enforcement actions.
A New Breed of Insurer Is Battling Climate Change
The need for new ways to insure against catastrophes arises from the increasingly extreme nature of our planet’s weather. As we put more infrastructure of every kind into harm’s way, that’s leading to bigger losses for insurers. In the 1980s, the U.S. suffered an extreme weather event that cost $1 billion every four months. Now, one is happening every three weeks, according to the U.S. National Climate Assessment, released in November.
Commercial Insurance Rates Continue to Show an Aggregate Increase Just Above 6%
Carriers report an aggregate commercial price change that remains above 6%, specifically at 6.1%, showing a slight decrease from the rate of 6.4% in the previous quarter (Q2’23).
Cigna Drops Bid to Buy Humana, Plans $10 Billion Share Buyback
The Wall Street Journal reported earlier Sunday that Cigna is walking away from the merger talks. Humana didn’t immediately respond to requests for comment.
Insurance Hiring Up 1,500 Jobs in November; Nation Up 199,000, Says BLS
insurance companies and related industries continued their hiring ways in November, adding an unofficial 1,500 jobs to the sector, the U.S. Bureau of Labor Statistics said.
Allianz Global Corporate & Specialty Announces Leadership Change
Allianz Global Corporate & Specialty SE (AGCS) today announced leadership changes that will take effect from January 1, 2024, subject to regulatory approval.
U.S. P/C Industry Posts $32B Underwriting Loss in First Nine Months of 2023
The U.S. property/casualty (P/C) industry recorded a $32.2 billion net underwriting loss in the first nine months of 2023, $7.6 billion worse than the underwriting loss posted in the same prior-year period, according to a new AM Best report.