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The Hartford’s Mo Tooker on the Insurance Industry’s Need For More Technology Investment

Risk & Insurance

We sat down with Mo Tooker, head of commercial lines at The Hartford, to discuss how data and AI will shape insurers' business models. The post

Posted: Jul 20, 2024

Why We’re All Moonlighting: The Hidden Cost of DIY Customer Service

Risk & Insurance

As companies outsource business functions to consumers, we're all taking on more and more risk management responsibilities. The post

Posted: Jul 20, 2024

Risk Collaboration in Action: What Good Communication Actually Looks Like

Risk & Insurance

Whether you’re a risk manager, broker or carrier, collaboration starts with concrete communication skills. The post

Posted: Jul 20, 2024

Navigating InsurTech Growth Opportunities

Insurance Thought Leadership

Navigating InsurTech Growth Opportunities From Our Partners sradomski

Posted: Jul 19, 2024

Streamlining Agency Operations, Improving Efficiency

Insurance Thought Leadership

Streamlining Agency Operations, Improving Efficiency Agent & Broker sradomski

Posted: Jul 19, 2024

KCC: Frequent SCS Activity Emphasizes Need for Latest Modeling Tech

Carrier Management

KCC: Frequent SCS Activity Emphasizes Need for Latest Mode...

Posted: Jul 19, 2024

Surge of Deepfake Identity Fraud Has Consumers Worried

Carrier Management

Surge of Deepfake Identity Fraud Has Consumers Worried Fraudu...

Posted: Jul 19, 2024

Avail shuts down D2C offering

coverager

COLI is corporate-owned life insurance.

Posted: Jul 19, 2024

Hurricane Beryl Caused Estimated $2-3B in Insured Losses to U.S. Property: Verisk

Insurance Journal

Estimated industry insured losses to onshore property from wind in the U.S. for Hurricane Beryl will range between $2 billion to $3 billion, Verisk’s Extreme Event Solutions business unit said. Beryl made landfall near Matagorda Bay, Texas the...

Posted: Jul 19, 2024

Global IT Crash That Blocked 911 Calls and Grounded Planes Eases

Insurance Journal

In what will go down as the most spectacular IT failure the world has ever seen, a botched software update from cybersecurity firm CrowdStrike Holdings Inc. crashed countless Microsoft Windows computer systems globally. Microsoft Corp. and CrowdStrik...

Posted: Jul 19, 2024

Tesla’s California Car Registrations Fall for Third Straight Quarter

Insurance Journal

Registrations of Tesla cars in California fell 24% in the April to June period, marking the third consecutive quarter that the company posted a sales drop in its key market, indicating mounting challenges for the EV maker, according to industry &#823...

Posted: Jul 19, 2024

People Moves: Ohio Bar Liability Insurance Company Names Tribble as CEO

Insurance Journal

Ohio Bar Liability Insurance Company announced that John R. Tribble, MBA, CPCU, CCLA will be joining the company as its next President and CEO. Tribble has held a variety of positions during the past eight years with Church Mutual Insurance …

Posted: Jul 19, 2024

BI claims the likely focus of insured losses from Microsoft IT outage, say analysts

Reinsurance News

Following today’s Microsoft Cloud outage, analysts currently expect business interruption claims to drive the bulk of insurance industry losses, and question whether this could be the litmus test for cyber underwriters, notably UK headquarte...

Posted: Jul 19, 2024

CFC’s Lindsey Nelson Explains Her Role and Sheds Light on Cyber Risk Trends

Risk & Insurance

“Every business that uses a computer or has employees needs cyber insurance. While most examples in the media and those shared by our broker partners involve Fortune 500 companies, our data shows that 90% of the cyberattacks we see are against bus...

Posted: Jul 19, 2024

Why Texas Mass Power Outages Continue to Happen

Insurance Journal

It’s become a familiar cycle: A powerful storm sweeps through a swath of Texas and takes the electric system down in its grip. Trees might bend and topple, crashing down onto a power pole. Sometimes the weight of ice pulls …

Posted: Jul 19, 2024

Cargo Ship Sustains Damage After Houthi Attack in Gulf of Aden

Insurance Journal

A Singaporean-flagged cargo vessel was hit by Yemen’s Houthi missiles in the Gulf of Aden on Friday, forcing it to return to its last port of call to assess the damage. Iran-aligned Houthis launched ballistic missiles and drones towards the &#8...

Posted: Jul 19, 2024

Insurance Broker TWFG’s Shares Rise Nearly 30% in Market Debut

Insurance Journal

Insurance broker TWFG’s shares gained nearly 30% in their Nasdaq debut on Thursday, signaling strong investor demand for new stocks as the U.S. initial public offering market aims for a recovery. IPOs in the U.S. are attempting to stage a &#823...

Posted: Jul 19, 2024

EPA Watchdog Investigates Delay in Using Specialized Plane After Ohio Derailment

Insurance Journal

The EPA’s Inspector General is investigating why the agency didn’t get its specialized plane loaded with advanced sensors into the air over East Palestine until four days after the disastrous Norfolk Southern derailment last year. The Ass...

Posted: Jul 19, 2024

Flooring Manufacturer Fined $300K for Exposing Texas Workers to Safety Violations

Insurance Journal

While one of the nation’s largest manufacturers of commercial flooring and surfaces — including recycled rubber products used throughout the nation in playgrounds, fitness centers and sports fields — touts its products’ safety and environ...

Posted: Jul 19, 2024

2023 SCS losses were not extreme or surprising, says KCC

Reinsurance News

While the active 2023 severe convective storm (SCS) season led to higher-than-average insured losses, these losses were not extreme, according to Karen Clark & Company’s (KCC) SCS Model. The KCC US SCS Reference Model offers a realistic depict...

Posted: Jul 19, 2024

What Disruptions Have Been Reported After the Global Tech Outage?

Insurance Journal

A global tech outage that appeared to be related to issues at cybersecurity firm CrowdStrike and Microsoft on Friday affected operations in sectors including airports, airlines, media and banks. Below is a list of disruptions that have been reported:...

Posted: Jul 19, 2024

QBE’s Thomas Kocaj on What’s Driving Macro Trends in Management Liability Lines

Risk & Insurance

“We find it a little surprising to see as much competition as we do in the public space, knowing that there’s the old inventory of claims and there’s a new inventory continuing to build. It’s a little bit of a surprise to me to see the market as c...

Posted: Jul 19, 2024

London market insurers key to future of advanced air mobility: IUA

Reinsurance News

The International Underwriting Association (IUA), representing insurance and reinsurance companies in London, has stated that London Market insurers will be essential in advancing new air mobility technologies in the coming years. The IUA emphasis...

Posted: Jul 19, 2024

Travelers Reverses Q2 Income Loss, Narrows Underwriting Loss

Insurance Journal

The Travelers Companies, Inc. reported second quarter net income of $534 million, compared to a loss of $14 million during the same time a year ago, thanks to record net premiums of about $11.1 billion. The New York-based insurer posted …

Posted: Jul 19, 2024

Matt Hannon Promoted to U.S. National Casualty Practice Leader at Aon

Risk & Insurance

The latest people news in the industry today. The post Matt Hannon Promoted to U.S. National Casualty Practice Leade...

Posted: Jul 19, 2024

KatRisk appoints Petros Keshishian and John Tewhill to key roles

Reinsurance News

KatRisk recently announced two key appointments: Petros Keshishian as the new Head of Model Engineering and John Tewhill as Enterprise Account Executive. Founded in 2012, KatRisk specialises in catastrophe modelling for various perils, including i...

Posted: Jul 19, 2024

Munich Re Ventures backs ZwitterCo

coverager

The company provides membrane solutions for treating highly-impaired wastewater.

Posted: Jul 19, 2024

Safe-Guard announces new investment

coverager

Safe-Guard is a provider of third-party private label finance and insurance protection products for the automotive, RV, marine, and powersports industries.

Posted: Jul 19, 2024

Insuring Against Uncertainty: Rethinking Responses to Workplace Violence

Risk & Insurance

If everyone committed just one day a year to thinking through the risks and compiling an actionable plan, insureds and their employees would gain significant peace of mind and lives would be saved. The post

Posted: Jul 19, 2024

Troy Bagwell Appointed as Commercial Lines Leader at Risk Strategies

Risk & Insurance

The latest people news in the industry today. The post Troy Bagwell Appointed as Commercial Lines Leader at Risk Str...

Posted: Jul 19, 2024

OneAdvent teams with Solace Global Risk to boost A&H hostile territory product offering

Reinsurance News

OneAdvent, the specialist managing general agent (MGA) and broker services platform, has partnered with risk management and security services organisation, Solace Global Risk, in a move that is set to provide a holistic insurance and risk manageme...

Posted: Jul 19, 2024

Sizzle Safely: Insurance Strategies for a Worry-Free Summer BBQ

Insurance Journal

Independent agents play a critical role in helping clients find the right home insurance policies for them. They are also instrumental in sharing information about general safety considerations for homeowners, which is especially essential during the...

Posted: Jul 19, 2024

West Virginia’s Ludewig Retires as Agency Joins with Leavitt Group

Insurance Journal

Longtime West Virginia insurance agent Charles Ludewig has decided to retire, paving the way for his agency to join the Leavitt Group, one of the largest privately held brokerages in the country. “I’m looking forward to this next chapter...

Posted: Jul 19, 2024

Chicken Culling, Disposal Raise Concern as Bird Flu Spreads

Insurance Journal

The spread of bird flu among poultry and dairy farms has heightened some health experts’ concerns that the process of killing and disposing of poultry infected with the virus may pose a risk to humans and livestock. Recent instances of …

Posted: Jul 19, 2024

A costly week of severe weather & SCS losses across US and Europe: Aon

Reinsurance News

Severe convective storms (SCS) that struck parts of the US and Canada from July 13-17, as well as several countries in Europe between July 11-17, are each expected to result in economic and insured losses totaling hundreds of millions of USD, acco...

Posted: Jul 19, 2024

Soccer Officials Arrested After Melee That Damaged Hard Rock Stadium in Miami

Insurance Journal

MIAMI GARDENS, Fla. (AP) — Colombia’s soccer federation president and his son were among 27 people arrested during the crowd control issues that broke out at the Copa America final between Argentina and Colombia, a melee that may have caused &#...

Posted: Jul 19, 2024

Global Cyber Outage Grounds Flights, Hits Banks, Telecoms, Media

Insurance Journal

A software update wreaked havoc on computer systems globally on Friday, grounding flights, forcing some broadcasters off air and hitting services from banking to healthcare. An update to a product offered by global cyberscurity firm CrowdStrike appea...

Posted: Jul 19, 2024