The hurricane caused widespread destruction, including extensive structural damage in Montego Bay, one of Jamaica’s main tourist destinations.
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Insurance Buyers See Double-Digit Rate Cuts, But Market Fragmentation and Systemic Risks Persist
Insurance buyers across global markets are experiencing some of the most competitive conditions in recent years, with double-digit rate reductions and abundant capacity in key lines such as property, cyber, and directors and officers (D&O).
DOXA Expands Prize Indemnity Services with Acquisition of American Hole ‘n One
The acquisition supports DOXA’s continued expansion in prize indemnity, event promotions insurance, sports promotions insurance, and hole-in-one insurance.
Otonomi Secures $5 Million Series A to Advance Insurtech Innovation in Cargo Insurance
Otonomi.ai, a blockchain-enabled insurtech platform specializing in cargo delay protection, announced the completion of a USD $5 million Series A funding round on October 30, 2025.
Marsh & McLennan Downgraded by BofA Amid Growth Concerns, Announces New Acquisition
According to BofA, Marsh & McLennan’s high PEG ratio of 7.39 indicates premium valuation relative to expected growth, and the firm does not anticipate any near-term catalysts to support stronger performance.
Arthur J. Gallagher & Co. Acquires Tompkins Insurance Agencies, Inc.
Tompkins Insurance Agencies offers a full suite of property/casualty insurance products and employee benefits services to clients throughout New York and Pennsylvania.
Philadelphia Insurance Companies Acquires Collector Vehicle Business from Ignyte Insurance
The transaction is valued at $615 million and adds four collector vehicle brands — American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly, and Heacock Classic — to PHLY’s portfolio.
SPG and Vertafore Partner to Streamline Insurance Processes
The collaboration is aimed at enhancing digital experiences for SPG’s retail agencies and improving operational efficiency across its partner network.
Nearly 28,000 Work Injuries Every Year Are Linked to Hot Weather
New study highlights the impact of extreme heat on workplace injuries and supports calls for national safety standards
Annual Report on the Insurance Industry: Key Findings from the Federal Insurance Office
The report provides a detailed analysis of the insurance sector’s financial performance during 2024, including the life and health (L&H) and property and casualty (P&C) sectors, and more.