Losses resulting from severe convective storms are expected to drive the 2023 net combined ratio for the property/casualty industry to 103.8, according to the latest underwriting projections by actuaries at the Insurance Information Institute (Triple-I) and Milliman. The hard market …
Boeing, one of the world’s largest defense and space contractors, said on Wednesday it was investigating a cyber incident that impacted elements of its parts and distribution business and cooperating with a law enforcement probe into it. Boeing acknowledged the …
Elon Musk asked a federal judge on Nov. 2 not to force him to testify in the U.S. Securities and Exchange Commission’s probe into his $44 billion takeover of social media site Twitter. Musk filed the objections in San Francisco …
Sheila Bush, a cosmetologist, was lounging in the recliner at her St. Louis-area home last winter when an advertisement from a law firm flashed up on her television screen, urging viewers to call a toll-free number if they or a …
A teacher who was shot by her 6-year-old student in Virginia can press forward with her $40 million lawsuit against a school system over claims of negligence by school administrators, a judge ruled Friday. The surprise decision by Newport News …
Warren Buffett`s company has reported a nearly $13 billion loss in the third quarter as the paper value of its investments fell, but the companies it owns – particularly the insurers – generally performed well. Berkshire Hathaway said Saturday that …
Though American International Group (AIG) saw a turnaround in underwriting income in the third quarter, driven largely by business in North America, the company’s chief executive said financial lines offset growth. AIG’s third quarter underwriting income within its General Insurance …
While Lemonade is still burning cash and reported a net loss on the bottom line of its third-quarter income statement, the insurtech expects both situations to reverse by year-end 2026. The cash situation, in fact, will turn around by year-end …
The Travelers Companies today said it has agreed to buy cyber managing general underwriter Corvus Insurance Holdings, Inc. for about $435 million for its middle-market excess and surplus lines presence. “This transaction accelerates our access to cutting-edge cyber capabilities that …
FTX founder Sam Bankman-Fried was found guilty Nov. 2 of stealing from customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire’s fall from grace. A 12-member …
