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Top 10 for the Past Week

 
 
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1.

Insurtech Root Lays Off 330 Employees as Loss Costs Increase

Jan 24, 2022 -- Technology company Root Inc., the Columbus, Ohio-based parent company of Root Insurance, announced yesterday that it has laid off approximately 330...
 
2.

BlackRock Agrees to $300M Loan for Root Insurance

Jan 27, 2022 -- Days after it announced it had to lay off 330 employees due to worsening loss costs, auto insurer Root Insurance has finalized a $300 million term...
 
3.

Progressive Q4, Full Year Net Income Drop Over 40%

Jan 26, 2022 -- Fourth quarter 2021 earnings at Progressive Corp. fell 43% compared with the same time period a year ago to $962.3 million. The results were...
 
4.

World's First Crypto Mortgage? Homeowners' Insurers Don't Hate It

Jan 26, 2022 -- If homeowners' insurance carriers weren't facing enough issues this year, here's one more to think about: A Miami company is now offering...
 
5.

Loss Costs Outpace Increase in Premiums for U.S. P/C Industry Through Q3

Jan 25, 2022 -- Direct-premium production for the U.S. P/C industry through the third quarter 2021 improved as insurers increased rates, but adverse trends in loss...
 
6.

Florida Rate Hearing Highlights Southern Fidelity's Dire Position, Lack of Action on Senate Bill

Jan 24, 2022 -- The head of one of the larger property insurance companies in Florida said Friday that without a doubling of some of its rates, it will be forced...
 
7.

People's Trust Must Hand Over Underwriting Manuals in Claims Litigation, Court Says

Jan 27, 2022 -- A property insurer must give up its underwriting manuals in a claims dispute, a Florida appeals court said Wednesday. In People's Trust Insurance...
 
8.

Secondary Perils Are Increasing Share of U.S. Catastrophe Losses

Jan 24, 2022 -- Secondary peril events such as wildfires, tornadoes and severe thunderstorms are becoming more impactful and generating an increasingly larger...
 
9.

People Moves: Brown & Brown Welcomes Zurich's Batta; Hartford's Vaughn to Global Specialty; Chubb Names Spitzer Treasurer, Harkin North America CFO

Jan 24, 2022 -- Brown & Brown Names Batta, Raveling, Kusserelis to Key Posts Brown & Brown, a national insurance brokerage firm, has elevated three people...
 
10.

Update: Marsh McLennan Q4 Net Income Jumps 100%; 6,000 Employees Added in 2021; Cyber Still Growing

Jan 27, 2022 -- Fourth quarter 2021 net income at Marsh McLennan more than doubled compared to the same period in 2020, to $803 million. Full year net income...
 
 
 

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