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CFC names Janine Fenwick as APAC Transaction Liability Practice Leader

Reinsurance News

CFC, an insurance provider specialising in cyber risk, has expanded its rapidly growing transaction liability team by appointing Janine Fenwick as Transaction Liability Practice Leader, Asia Pacific (APAC). Based in Melbourne, Fenwick will provide...

Posted: Nov 21, 2024

General Mills to Engage Regulators on Food Dyes Targeted by RFK Jr.

Insurance Journal

General Mills Inc. is planning to engage federal officials over potential restrictions on food dyes that it uses in some of its cereals, as Robert F. Kennedy Jr., the nominee to run the Department of Health and Human Services, calls …

Posted: Nov 21, 2024

Allianz Offers 5 Loss Trends to Watch on the Liability Front

Insurance Journal

As the costs of nuclear and thermonuclear verdicts explode in the U.S., organizations are examining ways to predict, prevent and avoid the liabilities that light the fuse on multi-million-dollar court cases. Areas critical to watch include pharma cla...

Posted: Nov 21, 2024

Sica Fletcher Index: Total Agency-Broker M&A Revenue Down 38% YTD

Insurance Journal

The 22 acquirers that make up the Sica Fletcher Index were involved in 142 agent-broker deals in the third quarter to match the amount of deal from the same quarter last year. Members completed 385 acquisitions for the year as …

Posted: Nov 21, 2024

Redfin Reports Home Sales Dropping Fast in Five Florida Metro Areas

Insurance Journal

The five U.S. metropolitan areas with the biggest drop in home sales are all in Florida, the result of a perfect storm of rising insurance costs, homeowner association fees and repeat storms, a home sales tracking service reported Wednesday. Redfin,...

Posted: Nov 21, 2024

Asbestos and environmental losses holding steady: AM Best

Reinsurance News

A recent report by AM Best maintains its estimate of ultimate net asbestos losses at $100 billion and environmental losses at $46 billion, based on year-end 2023 data. AM Best observed that while incurred losses rose slightly in 2023, paid losses...

Posted: Nov 21, 2024

KBRA Downgrades Insurance Financial Strength Ratings of Oregon Mutual Insurance Company

Insurance Journal

KBRA downgraded the insurance financial strength ratings (IFSR) of Oregon Mutual Insurance Co. and its wholly owned subsidiary, Western Protectors Insurance Co. to BBB+ from A-. The outlooks for both ratings remain negative. The downgrades reflect th...

Posted: Nov 21, 2024

People Moves: CompScience Names Silver SVP of Client Service and Success

Insurance Journal

CompScience hired Jeremy Silver as senior vice president of client service and success. Silver has decades of experience scaling customer success, services and support teams. He is currently a founding limited partner at Success Venture Partners, and...

Posted: Nov 21, 2024

Department of Labor Fines California Retirement Home $137K for Back Wages, Damages

Insurance Journal

A California assisted living facility for seniors was fined more than $137,000 after an investigation by the U.S. Department of Labor’s Wage and Hour Division reportedly found the facility failed to properly account and pay for all overtime hou...

Posted: Nov 21, 2024

Vermont’s Future Is Golden

Risk & Insurance

Challenging market conditions are driving insureds to captives. Vermont offers a reliable domicile. The post Vermont’s Future Is Golden appeared first on...

Posted: Nov 21, 2024

4 Things You Should Know about E&O Insurance for Insurance Agents

Insurance Journal

This post is part of a series sponsored by Darkhorse Insurance. Ever wonder how some insurance agents seem to glide through potential pitfalls without breaking a sweat? It’s not just about luck; it’s about having the right coverage. Error...

Posted: Nov 21, 2024

Key Benefits of Underwriter Link: Seamless Integration with Legacy Systems and Enhanced Client Satis...

Insurance Journal

This post is part of a series sponsored by Selectsys. In the competitive insurance industry, Wholesalers, MGAs, and Brokers are always seeking ways to streamline operations, integrate new technology with legacy systems, and provide faster, more accur...

Posted: Nov 21, 2024

Strategic Boards Should Have a Look at Captives for Managing Personal Reputation Risk

Risk & Insurance

Reputational risk remains one of the most fearsome risks that board members and their institutions can face. Captives may be a solid way of managing those risks. The post

Posted: Nov 20, 2024

Survey Finds Home Hunters’ Search Fueled by Climate, Crime and Safety Concerns

Carrier Management

Survey Finds Home Hunters’ Search Fueled by Climate, Crime and Safety Concerns House hunters ready to move...

Posted: Nov 20, 2024

2023 Workers’ Compensation Benchmarking Study: Views from Frontline Talent

Risk & Insurance

The latest annual report quantifies the challenges, motivations, and experiences of 1,300-plus frontline claims professionals based on their firsthand survey responses. The post

Posted: Nov 20, 2024

Bolttech secures $50 million debt facility

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The funding is intended to support bolttech’s market expansion, technology development, and operational flexibility.

Posted: Nov 20, 2024

Coverdash partners with LendingTree

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Coverdash’s embedded technology enables SMBs to access instant quotes from the "nation’s most recognized carriers."

Posted: Nov 20, 2024

Odoo raises €500 million

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AVP participated in the round.

Posted: Nov 20, 2024

Federato raises $40 million

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The solution is powered by Air Doctor.

Posted: Nov 20, 2024

Virginia Seeks $4.4 Billion Additional Federal Aid for Hurricane Helene Recovery

Insurance Journal

Citing the devastating impacts of Hurricane Helene in southwest Virginia, Governor Glenn Youngkin submitted a request to President Joseph Biden, President-elect Donald Trump and Congressional appropriators for $4.4 billion in federal support. Youngki...

Posted: Nov 20, 2024

Survey Finds Home Hunters Search Fueled by Climate, Crime and Safety Concerns

Carrier Management

Survey Finds Home Hunters Search Fueled by Climate, Crime and Safety Concerns House hunters ready to move r...

Posted: Nov 20, 2024

Uptick in Cargo Thefts Seen During Past Thanksgiving Holidays

Carrier Management

Uptick in Cargo Thefts Seen During Past Thanksgiving Holidays An increased ris...

Posted: Nov 20, 2024

Safety Agency Says Rising Traffic Deaths a Growing Crisis in U.S.

Carrier Management

Safety Agency Says Rising Traffic Deaths a Growing Crisis in U.S. The United States must address a growin...

Posted: Nov 20, 2024

AT&T Stadium Roof Debris Falls to Field Before Dallas Cowboys Game

Insurance Journal

ARLINGTON, Texas (AP) — A piece of the roof at the home of the Dallas Cowboys fell to the field while the retractable portion of it was being opened at least three hours before a 34-10 loss to Houston on …

Posted: Nov 20, 2024

Judge Tosses Ex-Arkansas Governor’s Suit Against Meta Over CBD Advertisement

Insurance Journal

A federal judge in Delaware on Monday dismissed a lawsuit filed by former Arkansas Gov. Mike Huckabee against social media giant Meta over advertisements using his name and image to sell CBD products. Huckabee, a Baptist minister and President-elect...

Posted: Nov 20, 2024

A-G Specialty Acquires Michigan’s First Agency TPA

Insurance Journal

A-G Specialty announced the acquisition of First Agency TPA, A Gallagher Company. First Agency TPA specializes in student and athletic accident coverage at both the interscholastic and intercollegiate levels, as well as special – risk programs...

Posted: Nov 20, 2024

Verisk launches program to enhance fire protection capabilities

Reinsurance News

Global data analytics and technology provider, Verisk has introduced LOCATION® Property Protection Score™ (PPS), which provides insurers with a score that reflects the fire protection capabilities at a specific address level. This score helps insu...

Posted: Nov 20, 2024

People Moves: Columbia Insurance Group Names Rieth VP of E&S

Insurance Journal

Columbia Insurance Group (CIG), headquartered in Columbia, Missouri, hired Aaron Rieth as vice president of excess and surplus (E&S). In this newly created position, Rieth leads the development of CIG’s direct-to-agent E&S solution. Rie...

Posted: Nov 20, 2024

Delphi hires Jeffrey Lebovitz as Executive VP and CFO

Reinsurance News

Insurance holding company Delphi has announced the appointment of Jeffrey Lebovitz as Executive Vice President and Chief Financial Officer. In his new role, Lebovits will leverage his over 20 years of experience with major investment firms and glo...

Posted: Nov 20, 2024

New Florida Legislative Leaders Talk Tough on Property Insurance, But No Specific Plans

Insurance Journal

Florida’s newest legislative leaders on Tuesday rattled some sabers about property insurance rates and claims but offered no agenda for the upcoming session that begins in March, according to state news reports. Incoming Senate President Ben Al...

Posted: Nov 20, 2024

Embroker report reveals 93% of startups now use cyber insurance

Reinsurance News

Embroker, a digital insurance platform simplifying the insurance process for businesses, has released its “2024 Cyber Risk Index: Startup Edition,” revealing a steady rise in cyber insurance adoption with a focus on simplicity, resilie...

Posted: Nov 20, 2024

Mitchell partners with Protech

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Collaboration focused on helping repairers easily identify OEM-recommended calibrations for collision-damaged vehicles equipped with Advanced Driver-Assistance Systems (ADAS)

Posted: Nov 20, 2024

Alpine Intel acquires TechLoss Consulting & Restoration

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The acquisition expands Alpine’s offerings to include expertise in complex losses involving electrical equipment and business-critical assets.

Posted: Nov 20, 2024

Ensuring Quality and Compliance with AI in Claims Processing

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Agentech takes AI’s potential a step further by offering a hybrid model: 80% out-of-the-box functionality combined with a 20% custom large language model (LLM) tailored to each carrier’s specific guidelines and nuances.

Posted: Nov 20, 2024

Cybersecurity in Insurance: Why Your Data and Compliance Can’t Afford to Slip

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Cyber attacks are on the rise in the insurance sector. Here's what industry players should look out for and tips for avoiding a data slip.

Posted: Nov 20, 2024

IMA Financial expands Southeast operations with new P&C division in Atlanta

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This expansion complements IMA’s established Employee Benefits and Retirement divisions in the Southeast.

Posted: Nov 20, 2024