Central European Floods to Cost Insurers $2.2B to $3.4B: Verisk
Insured industry losses from the flooding in the Czech Republic, Poland and Austria in September 2024 will range from €2 billion (US$2.2 billion) to €3 billion (US$3.4 billion), according to Verisk,...
View ArticleGlobal Natural Catastrophe Insured Losses Exceed $102B During Q1-Q3 2024: Aon
The third quarter of 2024 saw a significant number of natural disaster events, which drove year-to-date economic losses above at least $258 billion and insured losses of at least $102 billion,...
View ArticleINTERPOL, Canada Government Join Forces to Put Brakes on Transnational...
A new initiative, between INTERPOL and the Government of Canada, will target the multi-billion dollar global industry fueling organized crime involved in vehicle theft and illegal trade of spare parts....
View ArticleModerating Premium Rates, Falling Yields: European Insurers Resilient
European insurers are approaching the new year from a position of strength, having benefited from supportive interest rates and pricing cycles over the past two years. However, 2025 is expected to...
View ArticleDeadly Jet Crash in South Korea Marks Another Setback for Boeing
A machinists strike. Another safety problem involving its troubled top-selling airliner. A plunging stock price. 2024 was already a dispiriting year for Boeing, the American aviation giant. But when...
View ArticleInside Luxury Goods’ Broken Workplace Safety Audit System
LVMH-owned Dior’s production arm in Italy, Manufactures Dior, relied on formal inspections to assess working and safety standards inside its supply chain last year. In some cases, such certifications...
View ArticleChina Says 32 People Killed, 38 Hurt as Earthquake Hits Tibet
China said 32 people have been killed and another 38 were injured by an earthquake that struck its far western region of Tibet. The epicenter of the magnitude 6.8 quake that hit around 9:05 a.m....
View ArticleWhen EVs Take Off: AM Best Reviews Impact on China Motor Insurance
Premiums for policies covering new energy vehicles in China have soared to $13.8 billion—a six-fold jump from the level recorded five years earlier, AM Best said in a special report published Monday....
View ArticleAon: 60% of Employees Across the Globe Plan to Change Jobs This Year
A new study of employees in 23 countries reveals employees are engaging in a “hustle reset” as they reassess where and how much they work, according to global professional services firm Aon plc. The...
View ArticleDamaging Megadroughts Are Spreading Around the World
Severe drought conditions have helped fuel the Los Angeles wildfires. But a new study, released Thursday in the journal Nature comes with a warning: Climate change is making catastrophic, multiyear...
View Article‘Geoeconomic Fragmentation’ Challenges Insurers: Geneva Association
A January 2025 report from the Geneva Association, titled Insurance in a Fragmented World Economy, found that geopolitical tensions have driven the global economy toward “geoeconomic fragmentation.”...
View ArticleNatural Catastrophes Insurance Protection Gap Stands at 60%: WTW
Last year was the first year that exceeded 1.5°C (2.7°F) warming above pre-industrial levels resulting in an estimated 60 percent insurance protection gap for natural catastrophes, according to WTW’s...
View ArticleViewpoint: The Recipe for Building a Successful MGA
The managing general agency model is attracting a number of ambitious underwriters keen to step away from established insurers to build nimble, specialized, and client-focused MGAs. For many, launching...
View ArticleHer Parents Were Hurt in Tesla Crash, But She’s Set to Pay Damages—to Tesla
Zhang Yazhou was sitting in the passenger seat of her Tesla Model 3 when she said she heard her father’s panicked voice: The brakes don’t work! Approaching a red light, her father swerved around two...
View ArticleChubb to Buy Liberty Mutual Thailand, Vietnam Insurance Assets
Chubb Ltd. agreed to acquire Liberty Mutual Holding Co.’s businesses in Thailand and Vietnam in a deal that would help it boost its presence in Southeast Asia. Chubb plans to buy LMG Insurance Public...
View ArticleWildfire, Hurricane Rebuilding Efforts Impeded By Tariffs: APCIA
American Property Casualty Insurance Association issued a statement on behalf of P/C insurance company members on Tuesday, the day that 25 percent tariffs on most goods from Canada and Mexico took...
View ArticleFirms That Issue Green Bonds Better at Tackling Emissions: Study
Companies that issue green bonds tend to be better at reducing their greenhouse gas emissions, especially in heavily polluting sectors, new analysis from the Bank for International Settlements has...
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