Munich Re, one of the largest reinsurance companies in the world, has launched a new global unit focused on growing its share in parametric natural catastrophe risk transfer solutions, bringing together expertise from across the business to target this growing area of the market.
Category: Show on Homepage
Aon Seeks Recovery as Vesttoo Bankruptcy Forces $197 Million Charge
Aon plc sees an opportunity to work on recoveries related to the bankruptcy process of insurtech Vesttoo Ltd. over time and is confident over recovering a “meaningful” amount, said its president.
NHTSA Upgrades Probe into Tesla Power Steering Loss
U.S. safety regulators have upgraded their probe into Tesla vehicles over power steering loss to an engineering analysis – a required step before the agency could demand a potential recall.
Funding Dries Up for Insurance-Focused Fintech Startups
Startups using technology to shake up the insurance industry have generally failed to deliver for investors buying publicly traded shares.
U.S. Surety Growth and Profitability Bolstered by Public Projects
Demand for surety bonds in the United States continues to rise, especially for performance bonds, which has led to consistent top-line premium growth for this high-performing segment of the insurance industry, according to a new AM Best report.
Aon Calls for Clear Blue’s Lawsuit Over Vesttoo Fraud to Be Dismissed
Aon has filed a motion calling for the New York state lawsuit that fronting specialist Clear Blue Insurance filed against it, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo, to be dismissed in its entirety.
Securities Class Action Filing Activity Increased Slightly in 2023, Reversing Recent Years’ Declines
The number of securities class action lawsuits increased slightly in 2023, reversing the trend of decline over the last three consecutive years, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse.
New Tech Solutions, Growth Are the Focus for New CFO/CTO at Across America
Across America Insurance Services, Inc., a specialized wholesale insurance brokerage serving the commercial trucking and transportation industry, is adding new fire power to its C-suite by naming industry veteran Leah Barr as chief financial and technology officer.
Commercial Lines Performed Better than Personal, Combined Ratio Forecast at 103.9: Report
The 2023 net combined ratio for the property/casualty industry is forecast to be 103.9, with commercial lines at 97.7, outperforming personal lines at 109.9. Record levels of severe convective storm losses are the single biggest driver of the overall adverse results. Hard markets continue with 2023 net written premium growth forecast at 9.0%, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman.
Amazon Could Face Government Order Making It Liable for Third-Party Products
Amazon.com is facing a government order that could make it responsible for the safety of goods that it sells for outside vendors on its website and ships for them through its logistics network.