Business insurance has been roiled by severe weather and inflation, the same forces disrupting home insurance markets in catastrophe-prone areas of the U.S., with companies facing tougher conditions as they try to insure their properties against disaster.
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Automated Weather Insurance Could Offer Help in an Increasingly Hot World
A startup wants to help the insurance industry be more responsive to volatile weather and the widespread damage it can cause.
NSM Insurance Group Acquires Construction Specialist Shield Commercial Insurance Services
The nation’s leading specialty insurance provider NSM Insurance Group said Monday it completed its acquisition of Shield Commercial Insurance Services.
Zurich Adds Cyber Insurance Offering for Middle Market Businesses
Zurich North America has introduced a cyber insurance offering designed specifically for middle market businesses.
Acrisure Brand Roll Out Extends to the West Coast
Continuing with its global brand roll out, several Acrisure Partners in California, Nevada and Hawaii will rebrand.
Will the Loss of Insurance Carriers Lead to a Coverage Crisis in California?
While there are more than 100 insurers still operating in California, concern is mounting that future withdrawals could lead to a broader insurance crisis.
M&A Deals Plunge As Tougher Conditions than Expected Spook Markets
Global M&A suffered a record decline in the first half of 2023 as interest rate rises and economic uncertainty hit financing, according to research on completed deals from WTW’s Quarterly Deal Performance Monitor (QDPM).
After State Farm’s and Allstate’s Exits, Farmers Insurance Sets Limits in California
In an email to The Standard, a Farmers spokesperson confirmed that the company had “paused” several insurance programs and was limiting the amount of new business it takes on.
Deadly Flash Floods, Storms Wreak Havoc on East Coast
Heavy rains and thunderstorms caused devastating flash floods on the East Coast, overwhelming communities and roads in New York state and leaving at least one person dead.
Southern California Edison, Other Utility Companies Pay $22M to Settle Federal Claims Over 2016 Wildfire
Southern California Edison and two other companies have paid $22 million to settle U.S. government claims that they caused a 2016 wildfire that burned thousands of acres of national forest, it was announced Friday.