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INSURANCE NEWS
Binance’s $6.3 Billion Hack: How Crypto Insurance Works
Hackers stole $6.3 billion from Binance in the world’s biggest crypto heist, putting a spotlight on how cryptocurrency exchanges insure their digital assets against theft and cyberattacks. But insurance protection is far from uniform. Coverage depends on how assets are …
Some Trends Signal Potential Hope for US Commercial Auto: AM Best
A $2.2 billion underwriting loss in 2025 certainly isn’t anything to celebrate, but when it comes to U.S. commercial auto insurers, there may be a reason to crack a smile. According to a new report from AM Best, the loss …
Markel Expects to See Runoff Certainty With Enstar’s $1.2B Adverse Development Cover
Markel Group has entered into a reinsurance runoff agreement with Enstar Group, the legacy acquisition specialist that is providing $1.2 billion of adverse development cover for underwriting years 2025 and prior. “[W]e are taking decisive action on legacy exposures,” said …
Opterrix Launches AI-Powered Portfolio Management Workflow
Opterrix, a proactive risk intelligence and exposure management platform, this week launched Opterrix Portfolio Management, a new AI-powered workflow designed to help insurers gain a better understanding of their entire portfolios and make more informed underwriting and portfolio management decisions. …
Louisiana Man Arrested for Auto Insurance Fraud
A Louisiana man was arrested this week on a charge of insurance fraud for allegedly burning his pickup truck. St. Landry Parish Sheriff’s Deputies arrested Andronicus Edison, 58, of Palmetto after the Louisiana Office of State Fire Marshal’s (SFM) Fire …
AM Best Upgrades Credit Ratings of Kansas’ Upland Mutual
AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to “a-” (Excellent) from “bbb+” (Good) of Upland Mutual Insurance, Inc. based in Junction City, Kansas. The outlook of these …
Hippo Continues to Diversify Portfolio in Q3 With Casualty, Commercial
Insurtech Hippo posted net income for the third quarter 2026 of $9 million compared with about $98 million for the period a year ago. The San Jose, California-based insurer said the drop in net income was due to a $91 …
EPA Response to 2023 Ohio Train Derailment Will be Investigated
The Environmental Protection Agency’s response to the disastrous 2023 East Palestine train derailment will be investigated after local residents of the small town on the Ohio-Pennsylvania border and Vice President JD Vance pressed for the review. The Inspector General of …
Trump to End Restrictions on Methane From Oil and Gas Drilling
President Donald Trump said Tuesday that his administration is “terminating” a Biden-era rule that aimed to cut planet-warming emissions of methane from oil and gas drilling. Trump said during a campaign rally in Texas that the change would save companies …
Fire Briefly Triggers Emergency at SC Lab on Former Nuclear Weapons Site
A fire at a national lab in South Carolina that is in a complex where key parts for nuclear bombs were once made triggered an emergency declaration Wednesday that shut down incoming traffic and restricted air and rail service in …
Bayer Wins Roundup Weedkiller Cancer Trial While Awaiting Settlement Ruling
Bayer won a trial over claims by three women that its Roundup weedkiller caused their cancer, while awaiting a broader ruling from a separate court on the company’s $7.25 billion effort to settle other Roundup cases. The trial, which ended …
Japan’s Cyberattack Surge Tests Its Push to Strengthen Defenses
Japan is facing an intense wave of AI-powered cyberattacks that’s laid bare the vulnerability of one of the world’s largest economies to a new breed of hacking. Dozens of incidents affecting companies from brokerages to delivery firms have made data …
