Insurance

Nevada regulators have issued the first license to operate a lounge where cannabis can be consumed recreationally, marking the first of what are expected to be dozens of such operations. The state Cannabis Compliance Board announced that the license was …

Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million. Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and …

Hail of two inches or greater struck the United States on 141 days last year — the highest number of annual days in two decades, according to a new CoreLogic report. Severe convective storms generated “an unprecedented amount of insured …

Vermont Gov. Phil Scott has requested a federal major disaster declaration to help communities hit by severe rainfall and flooding in December. Such a declaration would allow municipalities to be reimbursed for 75% of eligible costs, such as debris removal, …

This edition of International People Moves details appointments at Aon and the London market’s electronic trading platform, PPL. A summary of these new hires follows here. Aon Promotes Goosen as Head of Professional Services, London Global Broking Centre Insurance broker …

A major port on Australia’s west coast used by Rio Tinto Group to export iron ore has started clearing ships from the harbor ahead of a cyclone that’s expected to form early Friday. All port anchorages are expected to be …

Zurich Insurance posted a better-than-expected annual operating profit on Thursday led by strong performance in its life business and offered a share buyback of up to 1.1 billion Swiss franc ($1.25 billion). The operating profit rose 21% to $7.4 billion …

France’s AXA, Europe’s second-biggest insurer, reported slightly lower-than-expected yearly earnings on Thursday, as higher debt servicing costs and investments in tech ate into a rise in revenues. The group, which also pledged bigger shareholder payouts as part of a new …

A cargo ship slammed into a bridge in southern China, sending several vehicles tumbling into a river. Two people died and three others were missing after the accident Thursday in Guangzhou, state-run Global Times said on X, formerly known as …

Cyber insurance provider Coalition said it expects the total number of common vulnerabilities and exposures (CVEs) to increase by 25% in 2024 to 34,888 vulnerabilities, or roughly 2,900 per month. The insurtech’s Cyber Threat Index 2024 detailed cybersecurity trends from …