Private-equity firm KKR said Wednesday it is buying the rest of retirement and life-insurance company Global Atlantic for $2.7 billion.
Author: Annie George
Survey Reveals Businesses Significantly Underestimate Risk from Flooding
Chubb unveiled findings from a new survey that finds U.S. mid-market companies (a majority between $10 million and $1 billion) are significantly unaware of and unprepared for the risks their businesses face from flooding.
Sixth Circuit Judge Throws Out PFAS Class Action for Lack of Standing
The Sixth Circuit on Monday tossed a lawsuit and dismantled a class that would have covered every Ohioan in a major case over exposure to “forever chemicals,” ruling that the longtime firefighter who brought the lawsuit lacks standing to proceed with the case.
Cyber Insurers Warn Catastrophic Hacks Will Require Government Help
A cyberattack that disrupts everyday life in the U.S. will likely cost more than the insurance industry can afford to cover, requiring government intervention, insurers and brokers said.
Cat-Exposed Property to See the Biggest Rate Gains in 2024: WTW
Catastrophe exposed commercial property insurance renewals are expected to see some of the biggest rate gains in 2024, as pressure continues and a challenged reinsurance market drives buyers towards alternative solutions, to offset rising rates.
Senators Call for Investigation of Health Insurers’ Role in Driving Up Drug Costs
A pair of U.S. senators called on the federal government to investigate health insurers that are paying high prices for generic drugs for serious diseases like cancer and multiple sclerosis.
AM Best Panel Explores How GenAI & ChatGPT Are Reshaping the Insurance Industry
A recent panel hosted by AM Best, that included insurance and technology experts, examined how Generative AI and ChatGPT technologies will play a key role in driving the customer experience across the industry.
Former Fintech CEO Joins INSTANDA’s Digital Insurance Revolution as VP of Sales
INSTANDA, the global provider of no-code insurance platform technology, announces the addition of Geoff Keast as its new vice president of sales.
Why Are Insurance Companies Laying People Off?
Major players like Farmers and GEICO are cutting back their workforce by 11% and 6%, respectively. What’s going on? The headlines alone might evoke a sense of dread, but a deeper look into the pressures driving the cutbacks reveals the potential for emerging opportunities.
A Punishing Year of Thunderstorms Has Led to Record-Breaking Losses
Thunderstorms this year have battered the U.S. as never before, forcing businesses and insurers to grapple with record-setting levels of damage more typically found with hurricanes.