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From the sky, Florida’s freshwater springs look like hidden gems—clear, cool, and inviting for people and animals alike. The state has more than 1,000 natural springs, more than any other in the country, providing a beach-like escape for many who live far from the ocean. Teens dive off docks, snorkelers explore the waters, and families … Read more

The average yearly insured property loss caused by natural events worldwide has jumped to $152 billion. This is quite a leap compared to recent years, according to data from Verisk, a data analytics company. The increase is largely due to more frequent but smaller storms, winter weather, wildfires, and floods, rather than massive disasters. Rob … Read more

Steve Boyd from Arrowhead Intermediaries recently shared his thoughts on what lies ahead for the insurance industry. He discussed how artificial intelligence (AI) is starting to play a bigger role, how more risks are moving into the excess and surplus (E&S) insurance market, and what makes E&S stand out. In a recent episode of Insurance … Read more

Aspire General Insurance, a California-based auto insurance provider, has secured a new source of funding through a strategic debt financing deal with Comvest Partners. This move aims to strengthen Aspire’s financial footing, allowing the company to grow its services, reach more customers, and keep improving its insurance technology. Comvest Partners, a private investment firm active … Read more

Sitting on his porch overlooking the Mississippi Sound, former Gulfport Mayor Billy Hewes finds it hard to understand why anyone wouldn’t want to live in this waterfront city. “People are always going to gravitate to the water,” he said. “And we have a beautiful waterfront.” But after Hurricane Katrina devastated the area in 2005, wiping … Read more

Skyward Specialty Insurance Group is set to acquire Apollo Group Holdings Ltd., a Lloyd’s insurer, for $555 million. The Houston-based company will buy Apollo from private equity firm Alchemy, paying partly in cash and partly in Skyward Specialty shares. The deal, which is expected to close in early 2026 pending regulatory approval, brings a new … Read more

AI-related exclusions are starting to appear more often in commercial insurance policies, but for now, cyber insurance is largely standing firm against them. Alexandra Bretschneider, vice president and cyber practice leader at Johnson Kendall Johnson, shared insights on how the industry is responding to the rising role of artificial intelligence in risks. While some insurance … Read more

Zurich American Insurance Company has taken DB Insurance Company to federal court over a dispute involving who should pay for the defense in a slip-and-fall lawsuit. The case stems from a 2017 accident at 55 Liberty Street in New York, where a waitress named Soo Kew Ong fell on a stairway and suffered serious injuries. … Read more

Michael Drummond from At-Bay appeared on Insurance Business TV recently to talk about the growing importance of cyber insurance. He shared insights into how cyber coverage is opening new doors in the Excess & Surplus (E&S) insurance market. According to Drummond, cyber insurance is becoming just as crucial as traditional property and casualty insurance. He … Read more

Insurance rating agency AM Best has confirmed an A+ (Superior) financial strength rating for Allstate Insurance Group. This decision was announced on Thursday, reflecting confidence in Allstate’s position in the market and its recent efforts to improve profitability. Allstate, based in Northbrook, Illinois, faced some tough times with losses in 2022 and 2023 due to … Read more