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CoverCap is designed to be a full limits solution for commercial property risks up to $50 million of total insured value.
Posted: Apr 24, 2025
Nadine Menendez, the wife of former U.S. Sen. Bob Menendez, was convicted of teaming up with her husband to accept bribes of cash, gold bars and a luxury car from three New Jersey men looking for help with their business …
Posted: Apr 24, 2025
Westfield Specialty International, the London-based specialty insurance arm of Westfield, has named Mark Benbow as Head of its newly launched Fine Art and Specie team. Benbow brings over 35 years of experience in the insurance industry, most recen...
Posted: Apr 24, 2025
A small plane appeared to have struck a power line before it crashed into the Platte River in Nebraska and killed all three people aboard, according to the National Transportation Safety Board. Few details are available about the Friday evening ̷...
Posted: Apr 24, 2025
Gov. Greg Abbott on Wednesday signed the first law of this year’s legislative session, a bill creating a new regulation-cutting agency inspired by Elon Musk’s federal Department of Government Efficiency. “Texas can have our own DOGE...
Posted: Apr 24, 2025
Prompted by a stinging defeat at the U.S. Supreme Court, Republican Ohio Attorney General Dave Yost on Tuesday said he was putting aside his objections and allowing a proposed constitutional amendment that would end qualified immunity for police and...
Posted: Apr 24, 2025
Global commercial insurance rates fell 3%, on average, in the first quarter of 2025 following a 2% decline in Q4 2024, according to the Global Insurance Market Index published quarterly by insurance broker Marsh. The Q1 2024 average commercial rate &...
Posted: Apr 24, 2025
Global commercial insurance rates fell 3%, on average, in the first quarter of 2025 following a 2% decline in Q4 2024, according to the Global Insurance Market Index published quarterly by insurance broker Marsh. The Q1 2025 commercial rate decline &...
Posted: Apr 24, 2025
Carl Hess, CEO of global broking group WTW, said the firm’s reinsurance joint venture with private investment firm Bain Capital is progressing well, and he remains confident in its long-term contribution to growth and earnings. In December 2024, W...
Posted: Apr 24, 2025
The Trump administration is considering whether to reduce certain tariffs targeting the auto industry that carmaker executives have warned would deal a severe blow to profits and jobs. One measure would spare automobiles and parts already subject to...
Posted: Apr 24, 2025
Berkshire Hathaway Specialty Insurance (BHSI), a provider of commercial property, casualty, and specialty insurance products, has announced the promotion of Jeff Murdock to Head of U.S. Property Claims. Based in Boston, Murdock succeeds Scott Lee,...
Posted: Apr 24, 2025
Globally, commercial lines rates drop 3% for third-consecutive quarter, ending seven-year streak of increases: Marsh. The post
Posted: Apr 24, 2025
Collaborate at America’s largest captive insurance event by registering at vcia.com! The post VCIA’s 40th Annual Conference, August 11-13th 2025 ap...
Posted: Apr 24, 2025
Probitas, a Lloyd’s syndicate acquired by Aviva in 2024, has confirmed that CEO Ash Bathia and Managing Director Nick Bacon will retire from their roles on 31 July 2025. Founded as a Lloyd’s platform with a focus on specialty insurance, Probitas h...
Posted: Apr 24, 2025
Baltimore City public school officials are dealing with a cybersecurity incident that occurred on February 13. Officials said that criminal actors appear to have gained unauthorized access to documents with information belonging to some current and f...
Posted: Apr 24, 2025
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has announced the appointment of Theodore Rodrigues da Costa as Underwriting Manager, Energy Transition. In this role, Rodrigues da Costa will oversee t...
Posted: Apr 24, 2025
Apple was fined 500 million euros ($570 million) on Wednesday and Meta 200 million euros, as European Union antitrust regulators handed out the first sanctions under landmark legislation aimed at curbing the power of Big Tech. The EU fines could R...
Posted: Apr 24, 2025
TALLAHASSEE, Fla. (AP) — Student survivors of last week’s deadly shooting at Florida State University urged state legislators Tuesday to block an effort to reverse a law passed after the 2018 Parkland school shooting that raised the state’...
Posted: Apr 24, 2025
Eli Lilly said Wednesday it had sued four compounders for selling unapproved products containing tirzepatide, after a U.S. judge last month blocked pharmacies from making copies of its weight-loss and diabetes medicines. Compounders were, until recen...
Posted: Apr 24, 2025
ATLANTA (AP) — Republican Gov. Brian Kemp’s political organization took to social media to tout his success in limiting lawsuits in a way Georgians could understand. “Thank you” its ad proclaimed, with the words blocked in the yello...
Posted: Apr 24, 2025
KBRA, a US-based credit rating agency, notes that while the US insurance industry has historically been resilient in the face of economic uncertainty, ongoing tariff disputes and broader trade tensions are now presenting a more complex and layered...
Posted: Apr 24, 2025
Everest, a provider of reinsurance and insurance solutions, has named Steve Reiss as the US Northeast Regional Executive for Everest Insurance. In this role, Reiss will be responsible for overseeing performance and client service across the Northe...
Posted: Apr 24, 2025
New Jersey firefighters reported Wednesday night that the Jones Road wildfire in Ocean County has been 50% contained after burning 13,250 acres. About 12 structures are currently under threat, down from 20 on Wednesday, according to the New Jersey Fo...
Posted: Apr 24, 2025
New Jersey officials announced that a 19-year old man has been charged with arson in connection with the Jones Road wildfire that started on April 22 and has spread throughout the southern Ocean County area. Joseph Kling of Waretown has …
Posted: Apr 24, 2025
Bermuda-domiciled legacy reinsurer Compre Group Holdings Limited (Compre) has posted a net loss post tax of $128.5 million in its full-year 2024 results, compared to a profit of $279.4 million in 2023. The loss was driven by an 18% year-over-year...
Posted: Apr 24, 2025
Generali Chief Executive Philippe Donnet secured shareholder support on Thursday to stay in the job for another three years, after he struck a landmark asset management deal that irked both a major investor and the Rome government. The vote hands ...
Posted: Apr 24, 2025
Tysers, an independent Lloyd’s broker and member of the Australian AUB Group, and Specialist Risk Group (SRG) have reached an agreement for Tysers’ Credit & Political Risk re/insurance team to join SRG. The goal of this agreement is for the Cr...
Posted: Apr 24, 2025
The UK’s driest start to the year in four decades is threatening the country’s grain crops and increasing the risk of wildfires. Total precipitation of about 20.5 centimeters (8.1 inches) during the first quarter was the lowest since 1985...
Posted: Apr 24, 2025
WTW has reported a net income of $239 million for Q1 2025, up from $194 million in Q1 2024, although revenue declined by 5% to $2.2 billion due to the sale of TRANZACT to GTCR and Recognize in Q4 of 2024 for $632.4 million. Meanwhile, the advisory...
Posted: Apr 24, 2025
S&P Global Ratings has affirmed its ‘A+’ long-term insurer financial strength and issuer credit ratings on the core operating entities of the Switzerland-based insurance groups Helvetia and Baloise. The credit rating agency also af...
Posted: Apr 24, 2025
Independent insurance broker Lockton has announced the appointment of Bård A. Poulsson as International Marine Lead, effective September 1, 2025. Based in Oslo, Poulsson will work to strengthen Lockton’s Global Marine focus on client needs in the...
Posted: Apr 24, 2025
French insurer AXA’s board of directors will propose the renewal of Chief Executive Thomas Buberl’s mandate for another four years at its annual shareholder meeting in 2026, the company said on Wednesday. Buberl, 52, has led the group sin...
Posted: Apr 24, 2025
UniCredit has increased its stake in insurer Generali to between 6% and 7%, a person with knowledge of the matter said on Thursday, ahead of a key shareholder vote to pick a new board of directors. Unicredit’s stake was 5.3% …
Posted: Apr 24, 2025
Global commercial insurance rates fell 3% in the first quarter of 2025, following a 2% decline in Q4’24, marking the third consecutive quarterly decrease after seven years of rising rates, according to Marsh’s Global Insurance Market Index. Marsh...
Posted: Apr 24, 2025
Kresimir Mudrovcic and his team of programmers spend months on end trawling through computer code that can be three times as old as the crew’s youngest members. Mudrovcic specializes in mainframe technology, involving computers tracing their ro...
Posted: Apr 24, 2025
The Ardonagh Group, a large independent insurance distribution platform, has acquired Zurich-based broker SRB Assekuranz Broker AG (SRB). According to Ardonagh, SRB, which focuses on corporate customers, primarily in the industrial sector, shares...
Posted: Apr 24, 2025
RLI Corp. has reported an underwriting income of $70.5 million for Q1 2025, on an 82.3% combined ratio, compared to $77.7 million on a 78.5% combined ratio in Q1 2024. In Q1 2025, the Property segment contributed $56.9 million to underwriting inco...
Posted: Apr 24, 2025
The insurance financial strength rating (IFSR) of Saudi Reinsurance Company’s (Saudi Re) has been upgraded by Moody’s Ratings to A2 from A3, while the firm’s A1.sa national scale IFSR has also been affirmed. At the same time, the...
Posted: Apr 24, 2025
Cowbell, a cyber insurance provider focused on small to medium-sized enterprises and the middle market, has introduced Prime One Tech in the UK. This new offering combines professional indemnity and cyber coverage, built specifically for technolog...
Posted: Apr 24, 2025
Washington, D.C.-based BreachBits has received an investment of an undisclosed amount from Lloyd’s in what is the London-based global insurance marketplace’s third strategic innovation investment from among over 150 alumni of the Lloyd...
Posted: Apr 24, 2025
Bermuda-based reinsurer RenaissanceRe (RenRe) incurred net claims and claims expenses from large loss events of more than $1.7 billion in the first quarter of 2025, driven by almost $1.6 billion of net claims from the January California wildfires,...
Posted: Apr 24, 2025
After several years of elevated growth and performance, the US property and casualty (P&C) insurance sector is approaching a period of slower expansion and rising uncertainty, reports reinsurance giant Swiss Re. According to James Finucane, Se...
Posted: Apr 24, 2025
Willis, a WTW business, has named Harry Merker as the new Property and Casualty (P&C) Cross Industry Sales Leader and Alternative Asset Insurance Solutions (AAIS) Sales, Strategy, and Execution Leader for North America. In this newly establish...
Posted: Apr 24, 2025
Apollo, the technology-driven insurance platform, in collaboration with Moonrock, a managing general agent specialising in drone insurance, has announced the launch of a new insurance facility designed to support emerging risks in drone, eVTOL, an...
Posted: Apr 24, 2025
Florida’s elected leaders have long touted the “1,000 people a day” moving into the state. But that trend shows signs of slowing, with people moving out of the Sunshine State due to surging housing and property insurance costs, acco...
Posted: Apr 24, 2025
Driver overconfidence is leading to risky behavior. Nationwide’s latest driver survey found 20% of drivers text while driving, 15% use social media, 13% watch videos, and 11% read or write emails. Half of all drivers admit to eating or drinking...
Posted: Apr 24, 2025
Driver overconfidence is leading to risky behavior. Nationwide’s latest driver survey found 20% of drivers text while driving, 15% use social media, 13% watch videos, and 11% read or write emails. Half of all drivers admit to eating or drinking...
Posted: Apr 24, 2025