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Cargo Ship Experienced Blackouts Before Causing Baltimore Bridge Collapse The cargo ship Dali experienc...
Posted: May 16, 2024
Tesla Must Face Owners’ Class Action Lawsuit Over Self-Driving Cla...
Posted: May 16, 2024
Posted: May 16, 2024
Bermuda-domiciled property and casualty reinsurance group, Conduit Holdings, has appointed Stephen Redmond as a Non-Executive Director of its Board, effective May 14th, 2024. As previously reported, Sir. Brian Williamson has now stepped down as a...
Posted: May 16, 2024
QBE survey reveals cybersecurity threats, financial challenges, and labor shortages as the industry's top concerns The post Top...
Posted: May 16, 2024
Swiss Re announced that Ivan Gonzalez, CEO Reinsurance China, has been appointed CEO of Corporate Solutions, succeeding Andreas Berger, who is moving into the role of group CEO, effective July 1, 2024. Gonzalez will join the Group Executive Committee...
Posted: May 16, 2024
A 64% jump in ransomware claims in 2023 is driven by an explosion in “indirect” ransomware incidents, up over 415% in 2023, with remote access tools accounting for 58% of attacks. The year-over-year increases were seen among mid-market an...
Posted: May 16, 2024
Munich Re Specialty – North America, part of the Munich Re Group insurance operations, to enhance risk analysis, critical submission management capabilities, and document ingestion with Kalepa’s underwriting platform, Copilot. To support its...
Posted: May 16, 2024
OCALA, Fla. (AP) — The Florida Highway Patrol has arrested the driver of a pickup truck that crashed into a farmworker bus early Tuesday, killing eight, on charges of driving under the influence-manslaughter. Bryan Maclean Howard, 41, faces eight cou...
Posted: May 16, 2024
Swiss Re announced plans to withdraw from its digital B2B2C insurance business, iptiQ, following a strategic review. The iptiQ business lost $250 million in 2023, but the loss was projected to be less in 2024. Nevertheless, Swiss Re decided its ̷...
Posted: May 16, 2024
ATLANTA (AP) — A federal appeals court has upheld a lower court’s ruling that a Georgia county illegally discriminated against a sheriff’s deputy by failing to pay for her gender-affirming surgery. In its ruling Monday, the 11th U.S. Circ...
Posted: May 16, 2024
Following Patricia Kocsondy’s move to Beazley’s Head of Global Cyber Digital Risks in January, Melissa Carmichael steps into the role of leading Beazley’s US Cyber division. Beazley has announced today the appointment of Carmicha...
Posted: May 16, 2024
Swiss Re will withdraw from the iptiQ business and consider options for the different entities.
Posted: May 16, 2024
Insurance Business Magazine - US
Posted: May 16, 2024
Founded in 2017, Handdii is a property insurance claims fulfillment platform that pairs insurance companies with contractors.
Posted: May 16, 2024
The structure of the deal provides AGI with a 40% interest in the company upon closing.
Posted: May 16, 2024
Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Yet …
Posted: May 16, 2024
A popular country music venue in Greenville, South Carolina, has closed its doors after almost 30 years, citing the cost of liquor liability insurance in the state. The Post and Courier newspaper and other news outlets reported Wednesday that the ...
Posted: May 16, 2024
Allstate, a US primary insurer, has disclosed that its estimated catastrophe losses for April 2024 amounted to $494 million, or $390 million after-tax. According to Allstate, the losses in April 2024 resulted from 11 events valued at $491 million,...
Posted: May 16, 2024
The Progressive Corporation has released its results for April, revealing a property line combined ratio of 116.7%, driven by weather losses throughout the month. The insurer’s Property segment combined ratio for April is comprised of an exp...
Posted: May 16, 2024
Global reinsurer, MS Reinsurance has announced the addition of Yasuko Fukuda and Dr. Frank Ellenbürger to its Supervisory Board of Directors. Fukuda has been appointed third shareholder representative director and Ellenbürger as fourth independent...
Posted: May 16, 2024
A federal jury on Wednesday convicted Greg Lindberg, who once controlled two life insurance companies, a reinsurance company and multiple other businesses, and his co-defendant John Gray, of attempting to bribe the North Carolina insurance commission...
Posted: May 16, 2024
Global insurer AIG has reached an agreement to sell approximately 120 million shares of its Corebridge common stock to Nippon Life Insurance Company. The selling price of the stock has been decided at $31.47 per share, for an aggregate purchase pr...
Posted: May 16, 2024
State Farm announced that it has launched a new website to showcase some of its patented technology, and making it available for licensing, purchase or collaboration opportunities. “State Farm is more than just an insurance company. With a focu...
Posted: May 16, 2024
The US insurance industry reported $8.5 trillion in total cash and invested assets, including affiliated and unaffiliated investments, at year-end 2023, compared to year-end 2022, with growth rebounding modestly from 1.3% in the prior period, an N...
Posted: May 16, 2024
The U.S. property/casualty industry’s net combined ratio improved in 2023 to 101.7 from 102.5 the prior year, according to S&P Global Market Intelligence. The combined ratio for the industry’s personal business lines came in at 106.7%...
Posted: May 16, 2024
Cover Genius, an insurtech specialising in embedded protection, announced today the successful completion of its Series E funding round, securing $80 million. Despite the recent slowdown in tech funding, Spark Capital led the round, joined by exis...
Posted: May 16, 2024
Mexico has secured $175 million of additional insurance protection against named storm events occurring on the Pacific side of Mexico via a catastrophe bond transaction facilitated by the World Bank and IBRD. With this bond, the Government of Mexi...
Posted: May 16, 2024
Reinsurance giant Swiss Re has announced the appointment of Beat Strebel as CEO Reinsurance China and China Country President. Strebel will take over from Ivan Gonzalez, who has been appointed as Swiss Re’s new CEO of Corporate Solutions. Both wil...
Posted: May 16, 2024
For companies facing expensive and hard-to-insure property perils, captives offer flexibility and price stability. The post
Posted: May 16, 2024
Life insurer and asset manager Aegon, in its trading update for Q1 2024, has reported a €256 million operating capital generation before holding funding and operating expenses. The firm added that with this growth it is on track to achieve guidanc...
Posted: May 16, 2024
Britain’s food watchdog has applied extra control measures on all spice imports from India, it said on Wednesday, becoming the first to ramp up scrutiny of all Indian spices after contamination allegations against two brands sparked concerns am...
Posted: May 16, 2024
Parsyl, an insurer for essential supply chains, has announced the appointment of Simon Coles as Head of Capital. In his new capacity, Coles will oversee all aspects of capital, financial management, and syndicate performance for Parsyl. Ben Hubbar...
Posted: May 16, 2024
An increasingly hostile society necessitates a more alert approach to public sector risk management. The post
Posted: May 16, 2024
Geopolitical tensions and a raft of elections around the world are heightening the risk that investors will be jolted by negative surprises and endanger financial stability, the European Central Bank warned. Markets have so far taken a relaxed view o...
Posted: May 16, 2024
MIB has reached an agreement with Crump Life Insurance Services, LLC to acquire RiskRighter, LLC, a provider of underwriting services to insurance carriers, distribution agencies and other businesses across the life insurance sector. Andrea Caruso...
Posted: May 16, 2024
CatX, the digital marketplace that connects re/insurers and brokers with alternative capital, has launched a stand-alone artificial intelligence-powered tool called Catamaran for the creation and analysis of reinsurance submissions. According to t...
Posted: May 16, 2024
Zurich Insurance Group has reported that Q1 2024 P&C insurance revenue was up 12% on a like-for-like basis to $10.25 billion, driven by strong commercial and retail growth. In commercial, rates improved across all regions with an average of 5%...
Posted: May 16, 2024
Posted: May 16, 2024
Patents for Sale? State Fa...
Posted: May 16, 2024
Buffett’s Berkshire Reveals $6.7B Stake in Insurer Chubb Warren Buffett's Berkshire H...
Posted: May 16, 2024
Posted: May 16, 2024
Today, Swiss Re announced the appointment of Ivan Gonzalez, currently CEO Reinsurance China, as the new CEO of Corporate Solutions, effective July 1, 2024, replacing Andreas Berger. Gonzalez will also join the Group Executive Committee concurrentl...
Posted: May 16, 2024
Following the recent closure of Brookfield Reinsurance’s acquisition of American Equity Investment Life Holding Company (AEL), the strategy for subsidiary North End Re (Cayman) SPC (NERC) is under review by AM Best. The rating agency has placed NE...
Posted: May 16, 2024