Excess and surplus managing general agent Ledgebrook said it will expand its professional lines offerings with an architects and engineers product in partnership with Obsidian Insurance Holdings.
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D&O Pricing Softens As Premiums Continue to Decline
Favorable underwriting results in the U.S. directors & officers (D&O) liability line will likely add downward pressure on rates amid decreased demand in the segment, according to a new AM Best report.
Major U.S. Insurers Make Progress on Climate Disclosures, but Significant Gaps Remain
A new report released today by Ceres reveals that while major U.S. insurance companies are making progress in disclosing their climate-related risks and strategies, significant gaps and disparities persist across the sector.
Home Prices Hit a Record High
Home prices rose in May to a new high, with low inventory continuing to spur bidding wars among home buyers in some markets.
Homebuying Is Changing in Florida
The turbulent property insurance market, while improving, has changed the way people buy houses in the Sunshine Sta
New York Legislators Pass Climate Superfund Bill
New York legislators passed a bill last week that would charge fossil-fuel companies a total of $3 billion a year for 25 years to pay for costs associated with climate change.
Attacks on the Red Sea Disrupt Global Trade, Market Watchers Say
Israeli-owned ships are facing particularly high insurance rates due to being directly targeted as Red Sea shipping attacks continue, according to AM Best Senior Economist Graziano Brady. Some insurers are refusing to cover these ships altogether, he said.
CDK Global’s Cyber Incident Briefly Shuts Down Car Dealership Services Across U.S.
Retail technology and software provider CDK Global was investigating a cyber incident and had briefly shut down all its systems proactively, it said on Wednesday.
Allstate Announces May 2024 Catastrophe Losses
The Allstate Corporation today announced estimated catastrophe losses for the month of May of $1.40 billion or $1.10 billion, after-tax.
Insurtech Loop Layoffs Follow Failed Attempt to Raise More Capital
Insurtech managing general agent Loop laid off an undisclosed number of employees on June 16 after failing to raise additional capital, according to Co-founder and Co-Chief Executive Founder Carey Anne Nadeau.