Cyber insurance premiums are falling globally as businesses become more adept in curbing their losses from cybercrime, even as ransomware attacks are rising, broker Howden said in a report on Monday. Insurance premiums to protect companies against cyber-attacks rocketed in …
In the topsy-turvy world of homeowners insurance, first-quarter loss ratios have been bouncing around for the last five years—from below 50 in 2020 to over 70 in 2021 and 2023, a new analysis shows. The S&P Global Market Intelligence analysis …
Companies accused of misrepresenting their progress on tackling climate change are increasingly finding themselves the target of litigants, as activist groups look to hold some of the world’s worst polluters to account. As many as 47 new climate washing cases …
Independent agents placed more than 62% of all property/casualty insurance written in the U.S., according to the Independent Insurance Agents & Brokers of America (the Big “I”). The association’s 2024 Market Share Report said independent agents have high penetration rates …
Even though direct loss ratios for commercial auto and other liability lines rose in first-quarter 2024, across all lines U.S. property/casualty insurers posted a net combined ratio of 94—the best since first-quarter 2007. Translating to an aggregate underwriting profit of …
Irish workers have been making the short trip over to the UK to find employment for centuries, escaping famine and more recently the aftermath of the financial crisis. But new data suggests that job seekers from across the Irish Sea …
The proportion of workers who expect to switch employers in the next 12 months is higher than that from the “Great Resignation” period of 2022, a PwC survey of the global workforce found. Around 28% of more than 56,000 workers …
Setting aside an additional 1.2% of the world’s land as nature preserves would prevent the majority of predicted plant and animal extinctions and cost about $263 billion, according to a study published on Tuesday. The world is racing to meet …
High claim severities, persistent risky driving behavior, electric vehicles and shop-and-swap consumers are challenging auto insurers to stay profitable. The challenges will continue through the end of the year and beyond, according to the 2024 U.S Auto Insurance Trends Report …
A majority of global insurers are actively endorsing the application of AI chatbots and generative AI in claims resolution processes, underwriting and customer fulfilment, according to a survey conducted by Gallagher Bassett, the claims-services provider and subsidiary of Arthur J. …
