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The Chinese insurance giant is working with financial advisers on the potential sale, which could value Founder’s life insurance unit at as much as $1 billion, the people said, asking not to be identified because the matter is private.

The Palo Alto, California-based company is now valued at $900 million, according to people with knowledge of the matter.

Despite BLM, #MeToo and other movements for equality and justice, employers don't understand enough about the impact of neglecting DEI on company health.

The Federal Emergency Management Agency in April announced the first significant update to the beleaguered National Flood Insurance Program, which covers about 5 million properties. Premiums have risen steadily, but the program is more than $20 billion in debt, thanks in part to rising seas and stronger storms. Now, a quarter of the participants will see lower costs, while the remainder will see premiums rise in increments as high as 18% annually.

Honda’s vision of how people will work, travel and spend leisure time in the future will help expand its business beyond cars, lawn mowers and motorcycles. The efforts are a key component of Honda’s “2030 Vision” to broaden the definition of mobility and to improve peoples’ daily lives.

Recent EY research confirms how the pandemic fundamentally changed consumer needs, how they plan to increase their financial security, and what insurers can do to seize the opportunity.

Global warming was ranked as the biggest risk to society over the next five to 10 years in a report released Tuesday by French insurance giant AXA SA. While that also topped the ranking in 2018 and 2019, it was outstripped by diseases and pandemics last year as the virus spread across the globe.

Keynova Group released its Q3 2021 Mobile Insurance Scorecard, which evaluates the mobile websites and mobile apps from the 12 largest U.S. property and casualty firms. Geico placed first overall and leads scoring in mobile web and app.

Australian insurance startup Cover Genius Pty Ltd. boosted its valuation to A$1 billion ($729 million), after raising A$100 million from investors including G Squared and Japanese insurer Sompo Holdings Inc.

Sempra’s Southern California Gas Co. utility said it reached a $1.8 billion settlement for individual claims for the 2015 leak at the Aliso Canyon storage facility near Los Angeles, according to a statement Monday. The company reached separate agreements to settle property and business claims for about $40 million.

As regulators and insurers work to understand the level of regulatory oversight that is needed for AI innovation, there is a path forward by looking to the recent past. The massive 2015 breach of Anthem’s customer data was a catalyst moment for insurance regulators and led to the Insurance Data Security Model Law now being adopted across the U.S. In this piece, former insurance regulator Jillian Froment lays out five core goals common to AI and cybersecurity that could accelerate the adoption of AI regulation.

Resolution and Allianz have been working with advisers on a deal that could be announced as early as this week pending regulatory approval, the people said, asking not to be identified because the information is private. The transaction would affect roughly $6 billion in liabilities that would be ceded to Resolution Life, which is run by former GE Insurance executive Clive Cowdery, they said.

As many as 2.4 million homes are at risk of losing protection in 2021 as year-long grace periods expire – though new disasters may extend their shields. In all, 18% of the state’s households could effectively lose protection, the largest single group since the moratorium law took effect three years ago.

In other news: Amerisure implements One Inc ClaimsPay tech; California drivers report distracted driving is getting worse; HSB adds social media income to home cyber protection.

Europe’s largest insurer is discussing a potential reinsurance deal for a portfolio with tens of billions of dollars in assets and liabilities, according to the people. It is working with advisers on the possible transaction, the people said, asking not to be identified because the information is private.

Renaissance Insurance, Russia’s largest online policy provider, is trawling the country’s traditional insurers for acquisition targets as it prepares for a possible initial public offering.

Chief Executive Officer Elon Musk has said that on Friday, the electric-car maker will roll out an updated version of its Full Self-Driving beta software, which until now has only been available to roughly 2,000 people.

Mexican startup Super, which offers coverage for earthquake property damages, plans to expand into hurricane insurance and possibly raise a fresh funding round next year, according to chief executive officer and founder Sebastian Villarreal.

The past 18 months have uncovered a vulnerability in the insurance industry, as companies have struggled to maintain consistency in their processes in the face of remote working. Communication processes, in particular, have suffered and as a result, traditional insurers now face the real risk of losing customers to insurtechs and other more technologically advanced companies.

Insurtechs have secured more access to capital in the last few years and by the end of 2020 the total market cap of listed insurtechs surpassed $22 billion, according to the World Insurtech Report 2021.