It appears the industry may be settling in to a new normal, or perhaps it’s returning to an old one, a year after the completion of the 25-month wave of deals that concluded at the end of 2022. The deal volume each quarter of 2023 was at or above each of the quarters before this rush of deals, according to Optis Partners.
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Bayer Hit with $2.25B Roundup Verdict
A Philadelphia court’s jury ordered Bayer AG to pay $2.25 billion in damages to a Pennsylvania man, who claimed to have developed cancer after allegedly using the company’s weedkiller, Roundup.
BOXX Insurance Partners with AXA on New Cyber Risk Prevention Solution for Businesses
Award-winning global Insurtech BOXX Insurance that combines cyber insurance and security has announced the launch of a cutting-edge cyber risk mitigation solution in collaboration with AXA, aimed at providing crucial support to small businesses
Zurich’s Sale of $20B Life Insurance Book to PE-backed Group Collapses
Insurance group Zurich’s sale of a $20 billion life insurance book to Viridium has collapsed, with the private equity-backed German consolidator citing “considerations relating to [its] current ownership structure” as regulatory scrutiny of such deals intensifies.
How AI, Tech Advances Can Help Insurers with Climate-Related Risks
Global economic losses from natural catastrophes hit $380 billion in 2023, with insured losses at $118 billion, according to a new report from Aon. More than two-thirds (67%) of global insured losses occurred in the United States, and “while no event reached the $10 billion mark, there were at least 37 billion-dollar disasters in total,… Continue reading How AI, Tech Advances Can Help Insurers with Climate-Related Risks
Reforms to U.S. Disaster Aid Expose Growing Home Insurance Gap
When disaster hits in the US, the federal government gives aid to states and counties, but also to individuals.
WTW Launches Tailored Cyber Insurance Solution for SMEs
The challenge of obtaining suitable and affordable coverage is eased with SMEs’ access to cyber solutions from WTW, a leading global advisory, broking, and solutions company.
PG&E Agrees to $45M Penalty to Settle Action Over 2021 Dixie Wildfire
PG&E has agreed to pay a $45 million penalty to settle an action brought by California’s public utilities regulator for its part in the Dixie Fire in 2021, which burned through five counties in the north of the state and took three months to extinguish.
Inszone Insurance Services Acquires High Desert Insurance
Inszone Insurance Services, a rapidly growing national provider of commercial, personal, and benefits insurance, is pleased to announce its recent acquisition of High Desert Insurance, out of Pueblo, Colorado.
CA Commissioner to Unveil Changes to California Home, Auto Insurance Rate Process
Insurance Commissioner Ricardo Lara told state lawmakers on Wednesday that his office would soon begin unveiling the first in a series of highly-anticipated rule changes that could affect the price and availability of home and auto insurance in California.