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Insurance Business Magazine - US
Posted: Jun 09, 2025
According to credit rating agency AM Best, the US property and casualty (P/C) insurance industry recorded a $1.1 billion net underwriting loss in the first quarter of 2025—a significant decline from the $9.4 billion gain reported during the same p...
Posted: Jun 09, 2025
At Aon’s Investor Day 2025, Andy Marcell, CEO of Global Solutions, said that reinsurance continues to see strong demand, driven by climate change and social inflation in the US casualty market, adding that he expects Aon to sustain mid-single-digi...
Posted: Jun 09, 2025
Growth in net earned premiums during the first three months of 2025 was offset by losses and expenses, resulting in a $1.1 billion net underwriting loss of the U.S. P/C industry. According to industry rating agency AM Best, the January …
Posted: Jun 09, 2025
A judge approved a deal Friday to try to solve a major buzzkill: Employees at a Michigan marijuana dispensary chain said management was keeping tips left by happy customers. Timber Cannabis, which has seven locations, agreed to pay $205,000 to …...
Posted: Jun 09, 2025
Slide Insurance Holdings, Inc., the technology-enabled insurer, has launched its initial public offering (IPO) of 20,000,000 shares of its common stock, in a registration statement on Form S-1 with the Securities and Exchange Commission (SEC). Sli...
Posted: Jun 09, 2025
Mereo Advisors Group, a Bermuda-based firm specialising in insurance, reinsurance, and asset management, has announced it will now operate under the new name Cedar Trace. The change is limited to branding. The company’s leadership, operations, and...
Posted: Jun 09, 2025
Hedge funds are facing pushback in California as their bets tied to insurance claims stemming from the Los Angeles wildfires are attacked as unethical. The transactions in focus are tied to so-called subrogation claims, which hedge funds, private equ...
Posted: Jun 09, 2025
Pennsylvania-based Erie Insurance on Sunday reported it is experiencing a “network outage that is affecting all systems.” Customers are unable to access online accounts or reach customer care or first notice of loss via phone, according t...
Posted: Jun 09, 2025
RenaissanceRe has announced a series of senior promotions across its U.S. operations and global underwriting teams. RJ Shea has been named President of Renaissance Reinsurance U.S. Inc., following a two-year tenure as Senior Vice President and Glo...
Posted: Jun 09, 2025
In a Reinsurance News interview, Megan Linkin, Expert Structurer at Swiss Re Corporate Solutions, the global reinsurer’s commercial insurance arm, discussed the growing demand for parametric insurance amid an uptick in severe weather events...
Posted: Jun 09, 2025
Custom AI assistants deliver stronger broker relationships and continuous improvement through feedback loops, Capgemini found. The post ...
Posted: Jun 09, 2025
Insurance tech company Slide is aiming for a valuation of up to $2.12 billion in its U.S. initial public offering, joining a lineup of insurance companies that have made impressive stock market debuts in recent weeks. Slide’s roadshow launch fo...
Posted: Jun 09, 2025
Howden, the London-based insurance intermediary group, announced it has acquired Innova Re, a market leading, independent reinsurance broker headquartered in Lima. Financial details of this deal were not disclosed. Established in 2017 and led by Juan...
Posted: Jun 09, 2025
New York first responders rescued 22 people Saturday evening from a boat on fire in the waters near City Island in the Bronx. The New York Fire Department (FDNY) reported that its marine unit was conducting routine patrols when it …
Posted: Jun 09, 2025
Arch Insurance International has announced the promotion of Ed Short as Head of Digital, effective immediately. In his new role, Short will lead the execution of Arch’s digital underwriting strategy. This involves ensuring a cohesive approach acro...
Posted: Jun 09, 2025
Chevron CEO Mike Wirth told employees they needed to reinforce safety standards after a growing number of injury near-misses in an internal video message on April 29, just weeks before three workers died due to a fire on one of …
Posted: Jun 09, 2025
As of April 2025, the California Earthquake Authority’s (CEA) risk transfer tower has grown to approximately $7.8 billion in total in-force coverage, following the successful renewal of additional reinsurance protection. According to the CEA’s lat...
Posted: Jun 09, 2025
Travelers Europe, a division of The Travelers Companies Inc., has announced the appointment of Andy Brown as its Chief Underwriting Officer for Business Insurance. Brown is taking over the role from Heather Batchelor, who is retiring following ove...
Posted: Jun 09, 2025
DoorDash, Grubhub and Uber Eats have settled lawsuits against New York City over laws that boosted minimum wages for delivery workers and capped how much the companies could charge restaurants for delivering meals. The settlement filed on Wednesday i...
Posted: Jun 09, 2025
A fast-moving fire erupted early Thursday at a transit bus lot in Philadelphia and burned dozens of decommissioned vehicles, sending a thick plume of black smoke into the sky but causing no injuries. The fire did not impact the morning …
Posted: Jun 09, 2025
Global insurer Chubb has announced the promotion of James Brown to Head of Major Accounts for Asia, in addition to his current position as Head of Global Broking, Asia. In his expanded role, Brown will be responsible for managing and growing Chubb...
Posted: Jun 09, 2025
Africa Specialty Risks (ASR), a re/insurance group focused on high-growth markets, has launched ASR 24-7, a digital underwriting platform designed to simplify and accelerate broker access to its products and services. Exclusively available to auth...
Posted: Jun 09, 2025
Sucheng Chang has been appointed to head up Markel International’s Asia Pacific business, which operates from its regional hub in Singapore and offices in Australia, Hong Kong, China, India, Malaysia and Dubai. Effective from 14 July, Chang...
Posted: Jun 09, 2025
Howden, the global insurance and reinsurance broking group, has strengthened its position in the Peruvian market with the acquisition of Innova Re, a Lima headquartered independent reinsurance broker. The acquisition provides Howden Re, the group&...
Posted: Jun 09, 2025
Pacific Life Re has revealed a series of strategic leadership appointments to strengthen its global growth and innovation agenda, including the naming of Andrew Murphy as managing director of the newly established Capital Solutions line of busines...
Posted: Jun 09, 2025
Insurer AF Group has announced the promotion of Patrick Stewart to Chief Financial Officer (CFO), Olivia Rogers to Vice President and Chief Risk Officer, and Jason Foreman to Vice President, Binding in the Specialty Lines division. These promotion...
Posted: Jun 09, 2025
The UK continues to be Europe’s most attractive location for foreign direct investment (FDI) into financial services, recording 73 projects in 2024—despite this representing a 32% decline from 108 in 2023, according to a recent EY survey. Germany...
Posted: Jun 09, 2025
South Africa’s central bank plans to expand its examination of climate risk to the insurance industry, as it seeks to anticipate threats that can do far-reaching economic harm. “This year we put out our first climate-risk scenario, common...
Posted: Jun 09, 2025
Indian monsoons this year — the earliest onset since 2009 — damaged new public infrastructure across the country, putting pressure on Prime Minister Narendra Modi’s push for an infrastructure upgrade in the world’s fifth-largest economy....
Posted: Jun 09, 2025
Cybersecurity investigators noticed a highly unusual software crash — it was affecting a small number of smartphones belonging to people who worked in government, politics, tech and journalism. The crashes, which began late last year and carried into...
Posted: Jun 09, 2025
One banker in the City of London is faced with paying an extra £40,000 a year in university fees for his children. Nursing homes are worried about finding enough caretakers for residents. The insurance industry says overseas relocations have now R...
Posted: Jun 09, 2025
The Transportation Department paved the way for looser U.S fuel economy standards on Friday by declaring that former President Joe Biden’s administration exceeded its authority by assuming high uptake of electric vehicles in calculating rules....
Posted: Jun 09, 2025
Homeowners’ insurance premium in Georgia costs less than in other states. Neither affordability nor availability have been major concerns in a state with hundreds of licensed insurers. But things changed in 2023-2024 when Hurricanes Idalia, Hel...
Posted: Jun 09, 2025
It was just over a year ago when Nike Inc.’s then-CEO, John Donahoe, trumpeted a flashy 90-second video, hyping a report about the company’s efforts to improve diversity and equality. The report, he said in a LinkedIn post, is “a &#...
Posted: Jun 09, 2025
A jury in California awarded more than $3 million in damages to a former Orange County prosecutor who alleged the county’s district attorney targeted her and forced her out of her position after she tried to protect women in the …
Posted: Jun 09, 2025
Robert E. Falvey has retired as General Counsel of maritime risks insurer Falvey Insurance Group, after 26 years of service. As he steps back from this role and day-to-day responsibilities, Falvey will continue to guide the company as a senior adv...
Posted: Jun 09, 2025
Insurate serves as Markel’s program distribution partner, bringing proprietary AI-driven safety scoring to underwriting and risk selection.
Posted: Jun 08, 2025
The former AI and Marsh McLennan executive will oversee marine underwriting strategy and compliance for the U.S.
Posted: Jun 08, 2025
To build trust and boost engagement, insurers must replace static documents and outdated systems with clear, personalized, and channel-optimized communications.
Posted: Jun 08, 2025
The insurer partners with FTI Consulting and Norton Rose Fulbright to help CISOs improve board-level communication.
Posted: Jun 08, 2025
Rising costs within the sector threaten coverage affordability and, in the long run, availability. Yet, insureds still need coverage.
Posted: Jun 08, 2025
The coverage is designed for a broad range of commercial properties that require substantial limits beyond traditional primary layers.
Posted: Jun 08, 2025
Accounts receivables insurance offers small and medium-sized businesses a critical tool to protect their cash flow and provides financial stability while pricing pressures are difficult to control.
Posted: Jun 08, 2025
The Plainview, NY-based company offers tools for COI management and vendor prequalification, with clients including Skanska and Performance Food Group.
Posted: Jun 08, 2025
The two companies previously partnered on a program basis.
Posted: Jun 08, 2025