Social Security benefits payments for 72.5 mn Americans will increase 2.5% in 2025
Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 mn Americans will increase 2.5% in 2025
Social Security benefits and Supplemental Security Income (SSI) payments for more than 72.5 mn Americans will increase 2.5% in 2025
Prudential Hong Kong has advanced the insurance industry with the launch of MedScreen+, a digital underwriting tool created in partnership with RGA
MetLife UK has teamed up with YuLife to launch a new Group Income Protection plan aimed at addressing the rising challenge of workplace absenteeism in the UK
Tokio Marine Kiln (TMK) has named Alexandros Ampatzis as Head of Marine for the Asia-Pacific (APAC) region, effective November 1, 2024
Insurtech Branch has raised $51 mn in a new funding round led by American Family Ventures. This investment supports Branch’s growth strategy
Insurtech Aurora, a digital commercial insurance platform, has raised seed funding from QBE Ventures, the investment arm of QBE Insurance Group
Lloyd’s of London has partnered with the United Nations Capital Development Fund (UNCDF) to introduce a new disaster resilience vehicle
AI-driven insurtech COVU has raised $12.5 mn through equity and debt financing in its first Series A funding round led by Benhamou Global Ventures (BGV)
Insurtech startup Stream Claims, specializing in AI-powered medical document review for workers’ compensation, sequred $5.3 mn in seed funding
AI-powered claims management insurtech for health and life insurers Qantev has raised €30 mn in new funding led by Blossom Capital
Insurtech Herald has secured $12 mn in Series A funding co-led by Lightspeed Venture Partners and Brewer Lane Ventures, with participation from Afore Capital and Underscore Venture Capital
Florida’s Office of Insurance Regulation (OIR) reported $2.34 bn in insured losses from Hurricane Milton, with 189,858 claims filed and 8.4% closed
Agentech, an AI-powered workforce solution for insurance claims, raised $3 mn in seed funding in just 30 days. This funding will support their expansion into Property & Casualty
The Insurance Council of Australia (ICA) welcomed the House of Representatives Standing Committee on Economics’ report regarding insurers’ responses to claims from major floods
Moody’s RMS Event Response estimates private insurance losses from Hurricane Milton to range between $22 bn and $36 bn
CoreLogic released its initial wind and flood loss estimates for Hurricane Milton. The company projects insured wind and flood losses to range from $17 bn to $28 bn
Blue Cross and Blue Shield (BCBS) has agreed to a $2.8 bn settlement as part of a long-standing antitrust class action filed by health care providers
The U.S. Court of Federal Claims has cut in half the $185 mn legal fee sought by Quinn Emanuel Urquhart & Sullivan LLP from a $3.7 bn class action settlement over the government’s failure
The UK FCA has initiated a market study focused on premium financing for motor and home insurance, aiming to determine if consumers are receiving competitive
Verisk has estimated insured onshore property losses from Hurricane Milton between $30 bn and $50 bn. These estimates come from Verisk’s Extreme Event Solutions
HCI Group estimates insured losses between $600 mn and $750 mn due to hurricanes Debby, Helene, and Milton
The Ardonagh Group, a major independent insurance broking platform, has completed the acquisition of PSC Insurance Group Limited
Munich Re Specialty has initiated steps to enter the Spanish commercial market for primary specialty insurance, aiming to start underwriting in 2025
The U.S. Supreme Court requested the opinion of the Office of the Solicitor General on Oklahoma’s appeal regarding a Tenth Circuit Court ruling
Coterie Insurance, a managing general agent (MGA) focused on simplifying small business insurance, announced its entry into the cyber insurance segment