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A grand jury in Orlando last week indicted four Honduran nationals for allegedly operating an off-the-books cash payroll scheme for construction workers that defrauded workers’ compensation insurers and avoided payroll taxes. Iris Villafranca,...
Posted: May 13, 2025
A session from the recent RISKWORLD on how parent companies can optimize the performance of their captives. The post RISKWORLD™ 2025 Coverage:...
Posted: May 13, 2025
Five American small businesses will ask a U.S. court on Tuesday to halt President Donald Trump’s “Liberation Day” tariffs, arguing the president overstepped his authority by declaring a national emergency to impose across-the-board...
Posted: May 13, 2025
Five American small businesses asked a U.S. court on Tuesday to halt President Donald Trump‘s “Liberation Day” tariffs, arguing that he overstepped his powers by declaring a national emergency to impose across-the-board taxes on imp...
Posted: May 13, 2025
Starwind Specialty Insurance Services, a CRC Group company, said it has launched four insurance programs — Starwind Environmental, Starwind PVT (Political Violence & Terrorism), Starwind Equipment, and Starwind Cannabis. Starwind Environmental, l...
Posted: May 13, 2025
Ambac Financial Group, Inc., an insurance holding company, has reported a 27% growth in total revenue from continuing property and casualty (P&C) operations for the first quarter of 2025 to $63 million, alongside total P&C premium producti...
Posted: May 13, 2025
Inflammatory Congresswoman Marjorie Taylor Greene won’t, but Georgia Insurance Commissioner John King will run for the U.S. Senate now held by Democrat John Ossoff. King, a former police chief in Georgia, was appointed to the insurance commissi...
Posted: May 13, 2025
Inflammatory Congresswoman Marjorie Taylor Greene won’t, but Georgia Insurance Commissioner John King will run for the U.S. Senate now held by Democrat John Ossoff. King, a former police chief in Georgia, was appointed to the insurance commissi...
Posted: May 13, 2025
This RISKWORLD session explored the critical role of cyber risk management within the food manufacturing industry. The post
Posted: May 13, 2025
Insurtech wefox has agreed to sell 100% of the shares in its Italian companies wefox MGA S.r.l. and wefox Services Italy S.r.l., to funds managed by J.C. Flowers & Co., a global private investment firm investing in the financial services indus...
Posted: May 13, 2025
Mike McGavick is returning to the insurance world as a strategic advisor and board chairman of Mea Platform, an artificial intelligence firm focusing on transactions and operations for carriers, managing general agents, and brokers. McGavick is the f...
Posted: May 13, 2025
Brazilian reinsurer IRB (Re) has announced its financial results for the first quarter of 2025, reporting net income increase of 50%, to R$118.6m (approximately US$20.89m), despite a 13.34% decrease in total written premiums, which stood at R$1,24...
Posted: May 13, 2025
PJM Interconnection LLC, the largest US electric grid serving about 20% of Americans from the Midwest to East Coast, warned that extreme heat this summer could trigger supply shortages for the first time. While PJM expects to have enough power …...
Posted: May 13, 2025
The Trump administration said on Monday it was convening an emergency task force and fast-tracking urgent steps to prevent additional telecom outages at the facility overseeing Newark air traffic after three incidents have shaken public confidence. A...
Posted: May 13, 2025
The 20-year-old man who fell from the top of a 21-foot-high wall onto the warning track at PNC Park during a Pittsburgh Pirates game last week took his first steps Monday but still has “a long way to go” in …
Posted: May 13, 2025
Alphabet Inc.’s Google is facing at least €12 billion ($13.3 billion) in damage claims from dozens of price comparison websites across the European Union which allege that the search and advertising giant stole their customers, according to a B...
Posted: May 13, 2025
Residents jumped from the windows of a four-story apartment building in Milwaukee during a Mother’s Day fire that killed four people, critically injured four others and grew so intense that the blaze outmatched the first firefighters to arrive,...
Posted: May 13, 2025
United Security Insurance Company has expanded its personal lines auto insurance product into Arizona. The product was developed by USIC and is marketed by Warrior Insurance Network. Arizona is the first state in WIN member insurance companies’...
Posted: May 13, 2025
Bevis Tetlow, CEO of Imaginera, has suggested that the company is positioning itself as the leading provider of services and software, focused on the big-ticket insurance and reinsurance market, highlighting its deep understanding of market proces...
Posted: May 13, 2025
A new report from the Swiss Re Institute has revealed that global insured losses reached $146 billion in 2024, up from $125 billion in 2023 and significantly exceeding the 10-year average of $108 billion. Natural catastrophes accounted for $137 bi...
Posted: May 13, 2025
India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market. India is the top ...
Posted: May 13, 2025
Christoph Jurecka, Chief Financial Officer (CFO) of global reinsurance company Munich Re, said today that while it’s still early days, the firm is optimistic ahead of the key mid-year reinsurance renewals as pricing remains attractive despit...
Posted: May 13, 2025
Global banking regulators on Monday agreed to intensify efforts to better understand the financial risks posed by climate change amid pushback from the United States. The oversight body of the world’s forum for banking regulators met on Monday...
Posted: May 13, 2025
“You can’t cut yourself to greatness.” Simon Wilson, chief executive officer of Markel Insurance, made the simple statement at a Markel Group brunch meeting for investors in Omaha, Nebraska on May 4 to convey the idea the hard work...
Posted: May 13, 2025
Pen Underwriting, the London-based managing general agent, has invested in a new cyber protection platform called “Pen Protect,” which aims to equip all its cyber policyholders around the world with an exclusive, enhanced, integrated suit...
Posted: May 13, 2025
Mark Newman, Chief Executive Officer of Canopius UK and Canopius Managing Agents, has joined the Lloyd’s Market Association (LMA) board as Kate Roy, Group Chief Operating Officer of Canopius, has stepped down. Newman has served as Canopius UK CEO...
Posted: May 13, 2025
Sven Althoff, Executive Board Member for Property & Casualty at Hannover Re, has indicated that the upcoming mid-year renewals are expected to mirror the outcomes seen on January 1 and April 1, particularly with continued softening in property...
Posted: May 13, 2025
Everest Promotes Mesagaes as Reinsurance Head of Renewable Energy Everest Reinsurance, the reinsurance division of Everest Group Ltd., announced that Jonathan Mesagaes has been named head of Renewable Energy. He will report to John Hyland, head of Un...
Posted: May 13, 2025
Germany’s largest reinsurers, Munich Re and Hannover Re, reported sharp declines in first-quarter profit on Tuesday after a combined 1.7 billion euros ($1.89 billion) in claims relating to the Los Angeles wildfires this year. The wildfires kill...
Posted: May 13, 2025
Zurich Singapore, part of the global insurance group, has strengthened its Commercial Insurance business segment with the appointment of Christy Yeo as Head of Property and Wendy Ong as Head of Financial Lines. The pair will report to Alexandra Co...
Posted: May 13, 2025
If the judiciary is willing to ignore the law as a means of correcting perceived injustice, sooner or later it will be incumbent on insurance to do the same. The post
Posted: May 13, 2025
Willis, a WTW business, has launched FinTech Plus, an insurance solution for FinTech firms navigating scale, complexity, and regulatory evolution globally. The unified solution aims to address the financial risk landscape, which includes options f...
Posted: May 13, 2025
Marks & Spencer Group Plc said some personal customer data was stolen by hackers as the British retailer continues to investigate and manage a highly-damaging “cyber incident.” The stolen data does not include “useable payment o...
Posted: May 13, 2025
Reinsurance broker Gallagher Re has appointed Satoshi Yamazaki, who has worked in reinsurance hubs in London, Bermuda, Zurich, and Singapore, as a Senior Manager, based in Tokyo. Yamazaki joins the broker after almost eight years with reinsurer Sw...
Posted: May 13, 2025
Hannover Re has reported a group net income of €480 million for Q1 2025, marking a 13.9% year-on-year decline, primarily driven by large losses in property and casualty reinsurance, which totalled €765 million and significantly exceeded the budget...
Posted: May 13, 2025
Reinsurance industry giant Munich Re has today reported a net result of €1.1 billion for the first quarter of 2025, despite losses from the Los Angeles, California wildfires in January of around €1.1 billion, which pushed the combined ratios for p...
Posted: May 13, 2025
HSBC Group has received approval from the Insurance Authority (IA) to set up a captive insurance company, Wayfoong (Asia) Limited, in Hong Kong, which has become the first captive insurer established in the city by a multinational enterprise. A ca...
Posted: May 13, 2025
Commercial property insurer FM announced an enhanced $1 billion membership credit for eligible mutual policyholders, allowing client-owners to receive more credit sooner. Johnston, Rhode Island-based FM said May 5 that with this year’s credit,...
Posted: May 13, 2025
Commercial Property Customers Cutting Insurance Corners Despite Risk As weather-driven catastrophes...
Posted: May 13, 2025
Paul Atkins, the chair of the Securities and Exchange Commission, laid out his vision for overhauling the agency’s cryptocurrency policies on Monday, saying he plans to establish guidelines for distributions of crypto tokens that are securities...
Posted: May 13, 2025
A Sarasota County sheriff’s deputy used excessive force on a handicapped, 100-pound driver in 2020 and is not entitled to immunity from lawsuits, a federal appeals court ruled in a case that could affect officers’ insurance coverage in si...
Posted: May 13, 2025
AM Best, the credit rating agency, has reaffirmed its stable outlook for Chile’s insurance market, attributing its assessment to continued growth in premiums, consistent profitability, and a more robust regulatory framework. These findings are det...
Posted: May 13, 2025
The U.S. Department of Labor has filed a lawsuit against the U.S. Postal Service for what it says is the wrongful termination of an employee who fell while delivering mail and reported the work-related injury. An investigation by the department’...
Posted: May 13, 2025
Republicans who control the Wisconsin Legislature voted to kill most of the top spending priorities of Democratic Gov. Tony Evers, including legalizing marijuana, even as both sides negotiate a tax cut. The Legislature’s Republican-controlled b...
Posted: May 13, 2025
A federal judge sentenced a McAllen woman who reportedly helped commit property and title fraud schemes to 24 months in prison and three years of supervised release. Chief U.S. District Judge Randy Crane also ordered Mayela Saby Cantu to pay …
Posted: May 13, 2025
A pickup truck that collided with a tour van near Yellowstone National Park last week, killing seven people, crossed the highway’s center line and hit the van, according to Idaho State Police. Investigating troopers have determined that the Dod...
Posted: May 13, 2025
The family of a helicopter pilot who died when his helicopter crashed while fighting a wildfire in Southern California reached a $15 million settlement with the company that maintained the aircraft, their attorneys said. Michael Fournier was making w...
Posted: May 13, 2025
GLP-1 agonist drugs are designed to treat type 2 diabetes, but their secondary weight loss effect is driving popularity. The post
Posted: May 12, 2025
Trade dynamics are complex and interconnected. The post RISKWORLD™ 2025 Coverage: Sompo’s James Thielebeule appeared first on
Posted: May 12, 2025