Global insured losses from natural catastrophes hit US$137 billion in 2024, following the 5%-7% annual growth rate that has been the norm of recent years, according to Swiss Re analysis. If this trend continues, global insured losses will approach US$145 …
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils Read More »
Three Rhode Island men have been charged in federal court in Providence for their alleged roles in a conspiracy to steal and sell hundreds of thousands of dollars’ worth of catalytic converters, announced Acting U.S. Attorney Sara Miron Bloom. According …
Three Rhode Island Men Charged in Theft of Thousands of Catalytic Converters Read More »
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 …
AIG: Turning One Human Underwriter Into Five, ‘Turbocharging’ E&S Read More »
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 …
Tech Update: WTW Launches AI Monitoring Tool ‘Radar Vision’ for Insurers Read More »
As factories, stores and hotels across Spain and Portugal gradually returned to normal on Tuesday after a huge blackout the day before, business associations and companies began counting the cost. Spain’s main business lobby CEOE estimated the outage would shave …
Companies Count the Costs After Blackout in Spain and Portugal Read More »
On Good Friday, an aging supertanker fully laden with oil and calling itself Varada arrived in the waters to the east of Malaysia after a two-month voyage from Venezuela. The vessel raised some red flags: it was 32 years old, …
Zombie Ships Are Fast Becoming a Feature of Venezuelan Oil Trade Read More »
The UK should spare flood defense programs from budget cuts to be announced in June, as the country is already woefully unprepared for worsening disasters linked to climate change, a government adviser has said. “We are seriously concerned that resilience …
UK Warned Cuts to Flood Defense Are Too Dangerous to Consider Read More »
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 …
Three workers were killed and two were injured when a section of scaffolding collapsed early Tuesday at a liquefied natural gas plant that Sempra is building in Texas. The two survivors at the Port Arthur LNG project were rescued from …
Three Workers Killed in Scaffold Collapse at LNG Plant in Texas Read More »
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 …
Loss of FEMA Program Spells Disaster for Hundreds of Communities and Projects Read More »
