Glencore, Viterra Sue Louis Dreyfus for $200 Million Cotton Loss January 25, 2024 By Ilena Peng Glencore Ltd. and Viterra BV have filed a lawsuit in New York claiming they lost more than $200 million from...
Progressive Q4 Net Income Up 141% as Combined Ratio Exceeds Goal for 2023 January 25, 2024 By Chad Hemenway Progressive Corp. said fourth quarter 2023 net income jumped to nearly $2 billion compared to about $826 million a year...
Chaos in The Red Sea is Starting to Bite into Companies’ Profits January 23, 2024 By Farah Elbahrawy, Julien Ponthus and Michael Msika With the Red Sea crisis roiling shipments of everything from cars to energy, it’s a matter of time before soaring...
Florida to Borrow Billions to Backstop Insurers After Hurricanes January 23, 2024 By Nic Querolo Florida is planning to borrow as much as $3.8 billion to infuse a state fund that reimburses property insurers for...
Survey Shows Customers Expect 5-Day Claims Payouts, Not Paper Checks in Future January 23, 2024 The vast majority of insureds expect claim payouts to take no more than five days, a new survey shows. The...
Majority of Underwriters Predict Cyber Risks Grow ‘Greatly’ in 2024: Survey January 22, 2024 By Elizabeth Blosfield Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to...
New FEMA Rules Aim to Cut the Red Tape of Disaster Recovery January 22, 2024 By Rebecca Santana Anyone who has lived through a natural disaster and then applied to the federal government for assistance knows that it...
USGS: Nearly 75% of U.S. Could Experience A Damaging Earthquake January 19, 2024 Nearly 75% of the U.S. could experience damaging earthquake shaking, a recent U.S. Geological Survey report shows. A USGS-led team...
Airstrikes on Yemen Bring New Level of Chaos to Shipping in the Southern Red Sea January 19, 2024 By Áine Quinn, Julian Lee and Alex Longley The US and UK’s decision to hit back at Houthi militants after weeks of attacks on merchant shipping in the...
Secondary Perils Drive Global Insured Losses to Estimated $123B in 2023: Gallagher Re January 19, 2024 Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123...