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Chesnara, the European life and pensions consolidator, has acquired a closed portfolio of unit linked bonds and legacy pension business of approximately 17,000 policies and £1.5 billion in total assets under management (AUM) as at 31st, December 2...
Posted: Dec 24, 2024
Loïc Lanci, Arnaud Vanolli, and Gioele Giussani, economists at Swiss Re Institute, a leading global reinsurer known for its expertise in risk management and insurance solutions, discuss the potential disruption to Europe’s fiscal consolidati...
Posted: Dec 24, 2024
Alta Signa Europe B.V., a European boutique Managing General Agent (MGA), has recently announced the promotion of Vasileios Stasa to Junior Underwriter within its Cyber division, effective immediately. Vasileios joined Alta Signa in May 2024 as an...
Posted: Dec 24, 2024
ZestyAI, a provider of AI-informed climate and property risk analytics solutions, has received regulatory approval from the Iowa Insurance Division for its Severe Convective Storm suite, including Z-HAIL, Z-WIND, and Z-STORM. ZestyAI’s Severe C...
Posted: Dec 23, 2024
A federal court has ordered the owner of three West Michigan taco restaurants to pay 177 workers a total of $823,326 after the court granted the U.S. Department of Labor’s request for summary judgment, concluding that the restaurants operated a...
Posted: Dec 23, 2024
Two Union Pacific employees were killed and three people were injured when a freight train collided with a tractor-trailer and derailed in a small West Texas city, authorities said Thursday. The train derailed around 5 p.m. Wednesday in Pecos after &...
Posted: Dec 23, 2024
SAN ANTONIO (AP) — A teacher at a San Antonio-area day care was killed and another employee and five toddlers were injured when a parent’s car accelerated into another vehicle in the parking lot and both vehicles crashed into a …
Posted: Dec 23, 2024
Johnson County’s newest state representative, Helen Kerwin, R-Cleburne, filed her first bill Friday targeting an environmental problem that has struck her county: PFAS contamination in sewage sludge-based fertilizers. Kerwin said House Bill 167...
Posted: Dec 23, 2024
Catastrophe bond market records are descending in 2024 and set to be beaten on most fronts, as overall issuance recorded in our insurance-linked securities (ILS) focused sister publication, Artemis’ Deal Directory, is set to hit a new high o...
Posted: Dec 23, 2024
Walmart Inc. and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday. The Consumer Financial Protection Bureau sued Walmart and B...
Posted: Dec 23, 2024
The Federal Aviation Administration said on Thursday it was temporarily barring drone flights over dozens of critical infrastructure sites in New Jersey and New York. A frenzy of concern about drones in New Jersey and surrounding states has prompted...
Posted: Dec 23, 2024
Florida-domiciled insurers Security First Insurance and Embark MGA, have together launched a new HO5 homeowners’ insurance program designed exclusively for new home builders for affordable, turnkey insurance options for home buyers. This pol...
Posted: Dec 23, 2024
Virginia Governor Glenn Youngkin, citing damage done by Hurricane Helen and other disasters, has proposed a $127 million disaster assistance fund to fill gaps left behind in communities by insurance and federal and private recovery efforts. Youngkin...
Posted: Dec 23, 2024
In the waning days of President Joe Biden’s administration, the government’s highway safety agency is proposing voluntary safety guidelines for self-driving vehicles. But a rule from the National Highway Traffic Safety Administration putt...
Posted: Dec 23, 2024
RiverStone International has entered into an agreement with the French division of Zurich Insurance Europe and Zurich Insurance Company to deliver a loss portfolio transfer reinsurance (LPT) and facilitate an insurance business transfer involving...
Posted: Dec 23, 2024
DADEVILLE, Ala. (AP) — A storm was looming when the inmate serving 20 years for armed robbery was assigned to transport fellow prisoners to their jobs at private manufacturers supplying goods to companies like Home Depot and Wayfair. It didn’t...
Posted: Dec 23, 2024
California’s milk production in November plummeted as a bird flu outbreak spreads rapidly among herds in the country’s biggest dairy state. The state produced just under three billion pounds of milk in November, down 9.2% from the same mo...
Posted: Dec 23, 2024
Insurance commissioners from nine states are looking to the new Department of Government Efficiency to do away with the Federal Insurance Office. The letter, addressed to DOGE heads Elon Musk and Vivek Ramaswamy, said the FIO’s mission of monit...
Posted: Dec 23, 2024
The Government of Belize received $805,794 under one of The Caribbean Catastrophe Risk Insurance Facility (CCRIF) SPC’s Wet Season Trigger, a recently introduced policy endorsement. From November 16th to 18th, the coastal area of northern Belize r...
Posted: Dec 23, 2024
RiverStone International, the London-based provider of legacy solutions, announced it has signed an agreement with the French branch of Zurich Insurance Europe and Zurich Insurance Co. to provide a loss portfolio transfer reinsurance (LPT) and an ins...
Posted: Dec 23, 2024
LYONS, Ga. (AP) — Twisted equipment and snapped tree limbs still litter Chris Hopkins’ Georgia farm more than two months after Hurricane Helene made its deadly march across the South. An irrigation sprinkler system about 300 feet (92 meters) lo...
Posted: Dec 23, 2024
CCC Intelligent Solutions (CCC), a cloud platform provider powering the P&C insurance economy, has signed a definitive agreement to acquire EvolutionIQ, an AI-powered platform for disability and injury claims management. Under the agreement, E...
Posted: Dec 23, 2024
The insurance industry is poised for relative stabilisation in 2025 following years of disruption, Stonybrook Capital stated in its 2025 P&C Outlook. According to analysts, while some commercial lines may see moderate price decreases as capaci...
Posted: Dec 23, 2024
Nexus Underwriting, a specialty Managing General Agent (MGA), has entered into an agreement to acquire Arma Fusion Limited, the parent company of Arma Underwriting Limited (Arma), with the deal expected to close in the first quarter of 2025. Found...
Posted: Dec 23, 2024
Fire restrictions are in place across the Australian state of Victoria as one of its most popular national parks burns and officials warn of potentially “catastrophic” conditions in some areas over Christmas. A large bushfire near the sce...
Posted: Dec 23, 2024
Initial findings from the flight recorders of a DHL-operated plane that crashed near Vilnius Airport in November have given no indication of “illegal interference”, according to the Lithuanian Justice Ministry. “The preliminary anal...
Posted: Dec 23, 2024
Volante Global, an international Managing General Agent (MGA) and Lloyd’s Syndicate, has announced the appointment of Martin Reith as its new Executive Chairman. In his new role, Reith will focus on enhancing Volante Global’s underwriting strategy...
Posted: Dec 23, 2024
Aviva Plc agreed to buy Direct Line Insurance Group Plc for roughly £3.7 billion ($4.65 billion) in a deal that would create the UK’s largest motor insurer.Each Direct Line shareholder will be entitled to receive 0.2867 new Aviva shares, 129.7...
Posted: Dec 23, 2024
Aviva has agreed a deal to acquire Direct Line in a £3.7 billion cash-and-stock deal, a move that will create the UK’s largest home and motor insurer. Under the terms of the £3.7 billion new deal, for each Direct Line share held, shareholders will...
Posted: Dec 23, 2024
Arch Insurance, a division of Bermuda-based re/insurer Arch Capital Group, has appointed Ezechiel Symenouh as a Senior Cyber Underwriter, based in Paris, effective immediately. Symenouh joins Arch Insurance (EU) dac (AIEU), which provides speciali...
Posted: Dec 23, 2024
AXA XL, the property and casualty (P&C) and specialty risk division of global insurer AXA, has appointed Jon Tellekamp as Chief Underwriting Officer (CUO), Construction and Energy. In the new role, Tellekamp reports to Donna Nadeau, Head of La...
Posted: Dec 23, 2024
HIVE Underwriters Limited, a Managing General Agent (MGA) and Coverholder at Lloyd’s, specialising in Aviation Insurance, has announced the appointment of Henning Haagen as Chief Development Officer and Board member, effective 1 January 2025. In h...
Posted: Dec 23, 2024
Posted: Dec 23, 2024
According to Tokio Marine HCC – Cyber & Professional Lines Group (CPLG), the US cyber insurance sector is now in a soft market period, due to premium rate changes dropping below zero in 2024. The firm recently published its 2024 Cyber Market r...
Posted: Dec 23, 2024
Wells Fargo & Co. said it’s leaving the world’s biggest climate alliance for banks, in the latest sign that Wall Street is breaking away from such groups. The company said in a statement Friday that it ended its membership in …
Posted: Dec 23, 2024
Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to $2.2 billion in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday. The hacking amount exceeded $1 billion for the fourth straight year and the &#...
Posted: Dec 23, 2024
Be on the lookout for Grinch-like characters hanging out at transportation hubs over the holidays. A CargoNet analysis of holiday-period theft data from the past five years shows a heightened risk during the Christmas and New Year periods. The days &...
Posted: Dec 23, 2024
Two Kentucky Supreme Court rulings handed down last week emphasize how important it can be to have clearly worded insurance policies, including exclusions and excess and escape clauses, particularly in high-dollar commercial coverage. In Motorists Mu...
Posted: Dec 23, 2024
FM, a commercial property insurer, has announced the appointment of Laurel Rudnick and Danielle Harrison to key leadership positions. Effective January 1, 2025, Rudnick will take on the role of Senior Vice President and Chief Underwriting Officer,...
Posted: Dec 23, 2024
The Labor Commissioner’s Office fined the Maybourne Beverly Hills $4.4 million for violating California’s Worker Recall Law. The LCO issued the fine in response to the a luxury resort’s failure to rehire employees who were laid off...
Posted: Dec 23, 2024
The Labor Commissioner’s Office fined the Maybourne Beverly Hills $4.4 million for violating California’s Worker Recall Law. The LCO issued the fine in response to the a luxury resort’s failure to rehire employees who were laid off...
Posted: Dec 23, 2024
A Vermont military contractor will pay nearly half a million dollars to settle allegations that it used some foreign-sourced materials in certain protective eyewear it sold when it was required to use all domestic parts, according to the office of &#...
Posted: Dec 23, 2024
Hub International Ltd. acquired the assets of Great Basin Insurance Inc. Agency Partners Dana Loreman and Bill Gilmore Jr., and the Great Basin Insurance team, will join Hub Northwest. Great Basin Insurance will be referred to as Great Basin Insuranc...
Posted: Dec 23, 2024