INSURANCE NEWS
Uber Taking on Waymo in San Francisco With Lucid, Nuro Robotaxis
Uber Technologies Inc. is preparing to offer driverless rides on vehicles developed by Lucid Group Inc. and Nuro Inc. in the San Francisco Bay Area for the first time next year, thrusting the company into direct competition with Waymo’s robotaxi …
Arthur J. Gallagher & Co. Acquires Safe T Professionals in Arizona
Gallagher Bassett acquired 100% of Chandler, Arizona-based Safe T Professionals LLC. Gallagher Bassett previously held a minority investment in the business. Anna Martinez, Joshua Martinez and their team will remain in their current location under the direction of Jim Bond, …
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports
Hurricane Melissa made landfall in Jamaica as a powerful category 5 storm – a record for the Caribbean island nation — which brought storm surge, torrential rain, strong winds and massive damages. Melissa made landfall near New Hope, Jamaica, at …
Hurricane Melissa Makes Cuba Landfall After Lashing Jamaica
Hurricane Melissa made landfall in Cuba less than a day after it became the strongest recorded storm to strike Jamaica, where it left hundreds of thousands without power and forced hospitals to evacuate. Melissa crossed the coast in eastern Cuba …
People Moves: Tassone Jr. Promoted to AM Specialty CEO; Canopius Names Leftwich US Head of Strategy; FM Hires Erbig as CFO
Tassone Jr. Promoted to CEO of AM Specialty Dominick Tassone Jr. was promoted to CEO of AM Specialty Insurance Company (ASIC U.S.), effective Jan. 1, 2026. Since joining AM Specialty Insurance Group in 2023 as chief underwriting officer, Dominick has …
UN Sees World’s Emissions Falling 10% by 2035, Far Short of 60% Goal
Global emissions of planet-warming greenhouse gases are expected to fall by about 10% by 2035, compared with 1990 levels, representing the first decline ever forecast by the United Nations. But the world remains well off course to keeping global warming …
Progressive Now 4th Largest Global Insurer; RenRe Fastest Growing in ’24
As a group, the top 50 global property/casualty insurers grew premiums by 8.3% in 2024, but four of them, individually, grew by more than 20%, including Progressive which vaulted into the top five. S&P Global Market Intelligence published its list …
Generali, Natixis Owner Likely to Drop Asset Management Deal, Sources Say
Italy’s biggest insurer Generali and French banking group BPCE are likely to abandon plans to merge their asset management businesses by letting a year-end deadline lapse without a binding agreement, three sources said. The sources, briefed on the process, spoke …
Europe’s Top Rights Court Rejects Climate Challenge Against Norway’s Oil
The European Court of Human Rights on Tuesday ruled in favor of Norway’s government in a climate lawsuit brought by young activists who claimed the country’s policy of Arctic oil exploration had put their future at risk. Norway is western …
Mondelez Defeats Greenwashing Lawsuit Over ‘Climate Neutral’ Clif Bar Claim
A federal judge dismissed a proposed class action lawsuit accusing Mondelez International of deceiving consumers into overpaying for Clif bars that were labeled “climate neutral certified.” U.S. District Judge Manish Shah in Chicago found nothing wrong with labels for Clif …
California Commissioner’s Regulation to Prevent Insurance Crises From Climate Disasters, Cyber Threats, AI
California Commissioner Ricardo Lara is proposing a regulation aimed at mitigating rising insurance costs and safeguarding the state’s insurance market from catastrophic risks and technological threats. Lara’s Long-Term Solvency Regulation is aimed at providing the California Department of Insurance enhanced …
Jamaica Catastrophe Bondholders Headed for ‘Full’ Trigger Event
Investors in Jamaica’s catastrophe bond now face a potential full payout scenario, meaning the entire value of the bond will likely go toward covering the cost of Hurricane Melissa.That’s according to Florian Steiger, chief executive of Icosa Investments AG, a …