Bayer and Insurtech Pula plan to insure 10 million farmers in Africa
Bayer Foundation and insurtech Pula plan to insure 10 million smallholder farmers in Africa by 2030. This initiative protects farmers from climate risks
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Insurance News delivers current updates and outlooks in the insurance industry, section provides timely coverage of significant events, regulatory changes, and market trends that impact insurers and policyholders. It highlights new insurance products, technological advancements, and major mergers or acquisitions within the sector. The focus is on presenting relevant news that affects the insurance landscape, ensuring that readers stay informed about the latest shifts and emerging issues.
Bayer Foundation and insurtech Pula plan to insure 10 million smallholder farmers in Africa by 2030. This initiative protects farmers from climate risks
Tesla has introduced its first insurance discount for drivers using Supervised Full Self-Driving (FSD), cutting premiums by up to 10% for policyholders in Texas and Arizona
An 11-year review of insurers’ filing data for homeowners insurance multiperil coverage in California shows intermittent years of poor results
A Texas Senate bill aims to prevent health insurance companies from using AI-based algorithms as the sole basis for denying claims
MetLife reported a fourth-quarter net income of $1.2 bn, up from $574 mn in the same period last year, according to its earnings statement
Globe Life has expanded the number of individuals potentially affected by a cyber-extortion attempt last year
Allianz Commercial appointed Sandra Lee as head of claims for Canada. McNulty will continue as Allianz Commercial Canada’s chief agent
The North Carolina Rate Bureau has proposed a 22.6% statewide average increase in personal auto insurance rates for policies effective Oct. 1
Severe storms and flooding have impacted northern Queensland and nearby areas in Australia since Jan. 29. The Insurance Council of Australia (ICA) classified it as a “significant event
Flood Re is introducing a new Flood Bus, named Flo, as part of a national effort in Scotland to strengthen property-level flood protection and help communities prepare for future flooding
Relm’s FALTAWEB3 responds to the increasing frequency of such events, aiming to strengthen confidence among commercial users of crypto exchanges
A Texas appeals court overturned a $12 mn jury award granted to Baylor College of Medicine in a COVID-19 business interruption case
The California Senate is reviewing a bill that would let insurance companies and policyholders file civil lawsuits against fossil fuel firms for their role in climate-driven weather disasters
Allstate Corp. agreed to sell its group health business to Nationwide Mutual Insurance Co. for $1.25 bn in cash. The deal is expected to close in the second half of the year
A federal jury convicted life insurance broker James W. Wilson on 13 counts of fraud for orchestrating a $20 mn scam involving at least seven life insurers
U.S. District Judge Kari A. Dooley in Bridgeport ordered Epps to pay $1,001,058.43 in restitution to the Connecticut Medicaid program
A federal judge sentenced James Keating to 20 months in prison and three years of supervised release for stealing more than $1.4 mn from Allied World Insurance
A bill introduced in the U.S. House of Representatives seeks to repeal a Biden administration rule that restricts short-term health insurance and separates fixed indemnity insurance
A group of U.S. senators is urging the Federal Crop Insurance Corp. to create an index-based, or parametric, insurance policy
Pen Underwriting is expanding its multi-line strategic partnership with QBE through a new £420 mn capacity agreement
New York’s 2026 fiscal year budget includes proposed legislative changes aimed at improving insurance coverage for for-hire vehicles
Symetra Life Insurance Co. agreed to a proposed $32.5 mn settlement in a class-action lawsuit alleging it withdrew excessive amounts from policyholders’ cash value trusts
New South Wales insurer icare has hired Geniere Aplin to succeed Stuart Farquharson, interim chief executive officer, as permanent CEO
Generali and French banking and insurance group BPCE have agreed to form a 50-50 joint venture, creating a global asset management operation with €1.9 tn
Canadian mutual insurers Beneva and Gore Mutual plan to merge to drive growth, reinforcing the role of mutuals in the country’s insurance industry