The average rate increase for U.S. personal lines coverages was about 7.6% in the second quarter, up from about 4.8% for the first three months of the year, according to MarketScout. Dallas-based MarketScout, a division of Novatae Risk Group, said …
Progressive Insurance has agreed to a $48 million settlement with a class of 93,000 New York policyholders who claim the insurer underpaid their total loss claims on their vehicles. The $48 million represents approximately 54% of the compensatory damages alleged …
Insurers are nervous that militant attacks or AI-generated fake images could derail the Paris Olympics, risking event cancellations and millions of dollars in claims. Insurers faced losses after the 2020 Tokyo Olympics were postponed for a year due to the …
Labour’s landslide election win shows few signs of unsettling London’s financial heartland after the party’s lengthy pro-business overtures, though many in finance remain wary they could be targeted to prop up Britain’s stretched public finances further down the line. Under …
Attacks by Iran-backed Houthi militants on the Red Sea have reinvigorated piracy networks in Somalia, with criminal groups growing in both number and force, a European naval commander said. The Yemen-based Houthis began attacking vessels in the Red Sea last …
An abandoned tanker that was drifting off Yemen’s coast in June has disappeared and is believed to have sunk, three navy and security sources said, the latest vessel lost in the strategically important Red Sea. The area, on the main …
Switzerland and the European Union resumed talks on financial market regulation on Thursday after dialog was suspended in 2017, the Swiss government said. Issues relating to financial market stability, cross-border activities, capital markets, digital finance, cybersecurity, sustainable finance and insurance …
Global banking regulators have approved templates for banks to disclose their exposure to crypto assets from January 2026, they said on Wednesday [July 3], a year later than originally indicated. “These disclosures aim to enhance information availability and support market …
Hurricane Beryl pummeled Mexico’s Yucatan Peninsula with tree-toppling gusts and flooding rains, weakening slightly as it came ashore after leaving a trail of destruction through the Caribbean this week. Beryl’s top winds dropped to 100 miles (160 kilometers) per hour …
Zimbabwe received $31.8 million from African Risk Capacity, an arm of the African Union, as part of an insurance payout for the devastation the country suffered from an El Niño-induced drought. Finance Minister Mthuli Ncube told reporters on Thursday in …
