Global insured losses from natural catastrophes hit US$137 billion in 2024, following the 5%-7% annual growth rate that has been the norm in recent years, according to Swiss Re analysis. If this trend continues, global insured losses will approach US$145 …
Some property/casualty insurers talk about experimenting with artificial intelligence to automate call center responses and back-office operations. But that’s not the road to turbocharging growth that AIG CEO Peter Zaffino envisions for his company. AIG is all-in on AI that …
WTW has announced the North American launch of Radar Vision, an AI-driven performance monitoring tool custom-built for insurers. The global insurance industry has been turbulent for a few years, with significant inflation and demographic changes compounded by increasingly competitive and …
Mosaic Promotes Duggan to Lead North American Claims Mosaic, headquartered in Hamilton, Bermuda, named environmental and casualty risk specialist and former district attorney Thomas Duggan as the company’s claims head for North America. Based in New York, Duggan will oversee …
The textile mills that once served as the backbone of Mount Pleasant, North Carolina, have long been shuttered, and officials believed federal money would be key to the town’s overdue revitalization. They hoped an improved stormwater drainage system and secured …
Arch Capital’s first-quarter profit fell 49.2% as catastrophe losses from the California wildfires weighed on its underwriting performance and investment returns, the insurer said on Tuesday. The results mirror those of peers W R Berkley and Chubb, which also reported …
Aspen Insurance said on Tuesday it was seeking a valuation of up to $2.85 billion in its New York flotation, as the Bermudian specialty insurer looks to go public again in the United States after more than six years. Stock …
Almost a year to the day after Progressive announced it would hire more than 10,000 people to fill claims, IT and legal roles in 2024, the nation’s second largest auto insurer said it now has 12,000 job openings. As was …
Cincinnati Financial Corp. recorded a first quarter 2025 net income loss of $90 million compared to a gain of $755 million during the same period the prior year. The company’s consolidated insurance operations turned in a first quarter combined ratio …
Cargo theft across the U.S. and Canada continued to rise in 2024, with three states making up the bulk of losses, a new report shows. Multimodal hubs in California, Texas, as well as around Chicago, continue to be top targets …
