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A California state judge has tentatively ruled that nearly 6,000 Black factory workers can sue Tesla as a group for the electric vehicle maker’s alleged failure to address rampant race discrimination and harassment at its Fremont plant. Califor...
Posted: Feb 29, 2024
How great would your agency be if 100% of your team did 100% of what they said they’d do? [P]romise making and keeping is two-way street. And that’s what great teams are all about—giving and taking to ensure success for all. By Roger Sitkins Have...
Posted: Feb 29, 2024
Blending the old and the new [K]eep your eye on what is changing in your environment, how educating the next generation of service professionals is best done, and fighting to protect the quality of customer service that your agency provides. By Paul...
Posted: Feb 29, 2024
When three workers sought damages after incurring cancer CGL policy wording … [failed] to address harm that takes place over an extended period and that lacks a definitive origin. By Bruce D. Hicks, CPCU, CLU The Court Decisions column is a popular p...
Posted: Feb 29, 2024
What things look like in the independent agency space during this election year Investors who are still cautious could see their investment in (the insurance distribution) space as a safer way to deploy capital as the market finds its footing. By Jam...
Posted: Feb 29, 2024
It’s training, training, training At a time when our industry is only getting more complex, … it seems we’re looking at training and education as an expense while considering technology as an investment. By Cheryl Koch, CPCU, ARM, AAI, ACSR, A...
Posted: Feb 29, 2024
Moving from “isolationism” to cooperative consulting The diverse array of challenges and opportunities faced by independent agencies, regardless of their size or sector, has led to a heightened demand for knowledge sharing and insights from those who...
Posted: Feb 29, 2024
Watch for the “will dos” and the “won’t dos” in an ever-changing market E&S coverage isn’t unique to commercial lines accounts. High-risk personal lines accounts, such as homes with too many claims or homes located in disaster-prone areas, are al...
Posted: Feb 29, 2024
NAIC produces Model Bulletin for Artificial Intelligence Without someone stepping forward to provide affirmative regulation in the public interest to govern the use of AI, we can expect ugly scandals to come. By Kevin P. Hennosy In December 2023, the...
Posted: Feb 29, 2024
INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Ambiguous policy language defeats insurer Sistersville Tank Works since 1984 had been a family-owned and -operated West Virginia corporation. The name “Sistersv...
Posted: Feb 29, 2024
INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Plaintiffs challenge “wilderness exclusion” In early 2016, P.E.L. experienced severe mental health symptoms requiring inpatient hospitalization. After her relea...
Posted: Feb 29, 2024
Commissions are more certain than insurance losses. Those were not exactly the words that a Progressive executive used when he described the work the insurer has been doing to help customers meet all their insurance needs—sometimes through the polici...
Posted: Feb 29, 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that r...
Posted: Feb 29, 2024
The Insurance Information Institute (Triple-I) recently released a report highlighting how excessive litigation exacerbates the long-standing issue of rising auto insurance costs. The report outlines how dangerous driving conditions and economic f...
Posted: Feb 29, 2024
The new capital will "fortify" Hellas Direct's growth trajectory.
Posted: Feb 29, 2024
Fitch Ratings said it expects underwriting results for U.S. personal auto insurer to continue to improve this year but the pace to profitability will vary. Auto insurers Progressive and GEICO were the only two of 10 publicly traded carriers analyzed...
Posted: Feb 29, 2024
LEXINGTON, Ky. (AP) — Horse racing’s federal oversight body says racetracks under its jurisdiction experienced 1.23 racing-related equine fatalities per 1,000 starts in 2023, a much lower rate than at tracks outside its watch. The Horseracing I...
Posted: Feb 29, 2024
Amwins, an independent wholesale distributor of specialty insurance products, has announced its definitive agreement to acquire Connected Risk Solutions, LLC, the wholesale E&S insurance brokerage operated by BRP Group, Inc. (BRP). Jeff McNatt...
Posted: Feb 29, 2024
The husband of a New York doctor who died shortly after dining at a Disney Springs restaurant last year accused Walt Disney Parks and Resorts of negligence in a 19-page lawsuit filed in Florida. Jeffrey Piccolo is seeking in excess …
Posted: Feb 29, 2024
A U.S. judge on Thursday will consider whether to dismiss X Corp’s lawsuit against a nonprofit that has criticized a rise in hate speech on the social media platform once known as Twitter since Elon Musk took it over. X …
Posted: Feb 29, 2024
Johan Slabbert, the Chief Executive Officer of MSIG Holdings (U.S.A.), Inc., is set to depart from his role to pursue new opportunities. Effective immediately, Takehisa Chiba, the Chairman of MSIG Holdings (U.S.A.), Inc., will step into the role o...
Posted: Feb 29, 2024
James River Group Holdings Ltd. has released its financial results for the fourth quarter of 2023 reporting a net loss of $152.7mn, marked by a net loss stemming from the reclassification of its Casualty Reinsurance segment’s results to disc...
Posted: Feb 29, 2024
CyberCube’s analysis of all the 144A cyber catastrophe bonds issued to date shows that diversification within cyber as an asset class is possible. In a recent white paper titled “Digital Ties and Natural Divides: Correlation and Diversificat...
Posted: Feb 29, 2024
Insurance broker Lockton has announced that Eric Braverman and Eric Bill are joining the firm to build out its Lawyers Professional Liability Practice. Braverman is reportedly joining as Senior Vice President, Professional Services Practice Leader...
Posted: Feb 29, 2024
German supermarket chain Metro and its 3,400 employees in Ukraine have worked hard to get their business back to where it was before Russia’s full-scale invasion two years ago. After a sales slump of 10.4% in 2022 – when the …
Posted: Feb 29, 2024
Bad actors continue to be just that — bad — but with the right prevention and mitigation strategies, insureds can put up a stout fight against cyber intrusions. The post
Posted: Feb 29, 2024
BRP Group, the independent insurance distribution firm, has announced that total revenues increased 16% year-over-year to reach $284.6 million in their results for the fourth quarter of 2023. At the same time, the company reported organic growth o...
Posted: Feb 29, 2024
Howden has announced the acquisition of Intersure Group Limited, which is set to further strengthen its ability to service the Irish insurance market. Established in 1999 by Noeleen Butterly, Intersure is an owner-managed business based in Droghed...
Posted: Feb 29, 2024
UK insurer Direct Line Group has rejected Ageas’ recently announced offer for the company, labelling it “unattractive” and “highly opportunistic”. The firm’s Board has now confirmed that on 19 January 2024, it r...
Posted: Feb 29, 2024
Dry, windy weather that’s been fanning the worst Texas wildfire in almost two decades will return later this week after a brief respite of rain and snow. Fires raging across the Texas Panhandle have scorched homes and ranches, menaced an …...
Posted: Feb 29, 2024
Howden, the London-based insurance intermediary group, announced it has acquired Intersure Group Ltd., trading as Intersure Group, further strengthening its ability to service the Irish insurance market, as it expands its geographical footprint acros...
Posted: Feb 29, 2024
Michael Hinz, who has served as Korean Re Switzerland’s Chief Underwriting Officer since 2021, will assume the Chief Executive Officer (CEO) role on July 1st, 2024. Korean Re Switzerland is a wholly owned subsidiary of Seoul based reinsurer...
Posted: Feb 29, 2024
ST. LOUIS (AP) — The St. Louis suburb where Michael Brown was fatally shot by a police officer has agreed to pay $4.5 million to settle a class-action lawsuit that accused it of operating a so-called debtors’ prison. The legal …
Posted: Feb 29, 2024
Africa Specialty Risks (ASR) has reportedly formed a parametric reinsurance partnership with a leading European reinsurer to increase its coverage for vulnerable populations and economies in Africa and the Middle East. The partnership was facilita...
Posted: Feb 29, 2024
Posted: Feb 29, 2024
Bermuda-based insurer and reinsurer, AXIS Capital Holdings Limited, has promoted Edward Ashby to the newly created position of Chief Commercial Officer, in addition to his current role as the Global Head of Distribution for insurance. With his new...
Posted: Feb 29, 2024
BRUSSELS – Alphabet’s Google was hit with a 2.1-billion-euro ($2.3 billion) lawsuit by 32 media groups including Axel Springer and Schibsted on Wednesday, alleging that they had suffered losses due to the company’s practices in digital ad...
Posted: Feb 29, 2024
In Swiss Re’s recent report highlighting key insights from the insurance-linked securities (ILS) market in 2023, the firm observed a surge in new sponsors entering the catastrophe bond market, alongside the return of several sponsors after a perio...
Posted: Feb 29, 2024
Insurance Business Magazine - US
Posted: Feb 29, 2024
Claims Journal, a Wells Media Company, has named Don Jergler as editor. He succeeds Jim Sams who retired in January. Jergler has covered the insurance industry for over 20 years and holds multiple nominations and an AZBEE award from the …
Posted: Feb 29, 2024