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| Today's Headlines | June 7, 2021 |
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The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15 percent in order to deter multinational companies from avoiding taxes by stashing profits in low-rate countries. G-7 finance ministers meeting in London also endorsed proposals to make the world's biggest companies—including U.S.-based tech giants—pay taxes in... read more | | |
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Late last week, federal lawmakers requested information from Chicago-based insurer CNA about a March 21 cyber attack on the company and about a reported $40 million ransom CNA paid to end the incident. In a letter of CNA's chief executive officer, Dino Robusto, Rep. Carolyn Maloney, D-N.Y., who chairs the Oversight and Reform Committee of... read more | | |
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Over the last 10 years, the Internet of Things (IoT) and insurance have become fast friends, as technologies like auto-telematics and smart home devices have begun to revolutionize what it means to monitor homes and property. It's no secret that connected home insurance strategies ... read more | | |
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With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, "prospects for the U.S. cyber insurance market are grim," according to a report from AM Best. According to the global rating agency's analysts, insurers "urgently need to reassess all aspects of their cyber risk, including their appetite, risk controls, modeling, stress testing and pricing,... read more | | |
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There are some algorithms in life that, even with the very best marketing, don't really matter too much. For example, if Netflix's recommendation algorithm points me toward the first episode of a terrible new show when all I needed was a "Frasier" re-run, I'll be fine. I might have wasted 20 minutes trying out the... read more | | |
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A federal judge in Seattle has dismissed lawsuits filed by hundreds of Washington state businesses seeking insurance coverage for revenues lost because of COVID-19 public health orders. U.S. District Judge Barbara J. Rothstein on Friday granted insurers' motions to dispose of lawsuits filed by dentists, restaurants, barbershops, law firms and the Seattle Symphony Orchestra. The... read more | | |
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The U.S. property/casualty (P/C) industry saw its net underwriting income fall in first-quarter 2021 by 53 percent as compared with the same prior-year period, according to preliminary financial results analyzed by AM Best. Increases in incurred losses, loss adjustment expenses and underwriting expenses, as well as a sharp 72 percent rise in policyholder dividends, were... read more | | |
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DWS Group and Assicurazioni Generali SpA are among suitors that submitted initial bids for the asset management arm of NN Group NV, people familiar with the matter said. The unit, known as NN Investment Partners, has separately attracted early interest from UBS Group AG and Allianz SE, the people said. Several other international asset managers,... read more | | |
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| | Managing agent and agency onboarding is a business critical function for ... read more | |
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| | New consumer trends reveal the path carriers can follow to thrive in this ... read more | |
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| | 83% of insurance CEOs say they are "concerned" about the speed of technological ... read more | |
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| | Identity thieves are increasingly targeting non-financial accounts, including ... read more | |
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| | The insurance industry faces significant disruption from multiple fronts, ... read more | |
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