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Seven people in South Carolina pleaded guilty this week to a scheme to defraud Aflac Insurance and other insurers out of more than $70,000 by making false claims with forged documents. But they won’t be going to prison. The South …
Posted: Dec 13, 2024
NFP's Dana Sutton shares her views on flood risk and coverage with Risk & Insurance. The post Think You Know Flood Risk? NFP’s D...
Posted: Dec 13, 2024
Bay Harbor Reinsurance Company, a provider of reinsurance solutions for the US Property and Casualty market, has established a new $50 million letter of credit facility with Barclays Bank PLC. The agreement includes provisions that could potential...
Posted: Dec 13, 2024
A Lakeland, Florida, woman was charged this week with threatening mass violence after she reportedly told her health insurance company: “Delay, deny, depose. You people are next” – echoing words allegedly used by the shooter of the United...
Posted: Dec 13, 2024
A Lakeland, Florida, woman was charged this week with threatening mass violence after she reportedly told her health insurance company: “Delay, deny, depose. You people are next” – echoing words allegedly used by the shooter of the United...
Posted: Dec 13, 2024
The U.S. Department of Labor reported it has obtained a consent judgment against a home healthcare agency and its owner, Teajan Kamara, who had deliberately failed to pay employees their legally earned overtime wages. Following a filing by the depart...
Posted: Dec 13, 2024
The property market remains in a delicate state, although a general softening trend is evident, Amwins’ analysts have stated in its latest State of the Market Report This year has seen a series of significant weather events, with Hurricanes Helene...
Posted: Dec 13, 2024
Swiss Re is targeting a net income of more than US$4.4 billion for 2025 and aims to grow the ordinary dividend per share by 7% or more per year over the next three years while maintaining its multi-year IFRS ROE …
Posted: Dec 13, 2024
A report by Howden Employee Benefits, in partnership with YouGov, reveals that 77% of UK small and medium-sized enterprises (SMEs) plan to update their employee benefits packages to attract and retain top talent, address workforce challenges, and...
Posted: Dec 13, 2024
EPIC Insurance Brokers & Consultants, a provider of risk management, insurance brokerage, and employee benefits consulting, has appointed Robert Peretti as Executive Director to lead National Markets and Placement. In this role, Peretti will p...
Posted: Dec 13, 2024
An Aviva business model that Indian tax officials say was used to pay agents unlawful commissions from 2017 to 2023 was rolled out internally in 2013 and approved in writing by top India executives, a confidential company document shows. Tax …
Posted: Dec 13, 2024
Guy Carpenter, Marsh McLennan’s reinsurance broking arm, has launched a new research project to explore using parametric insurance solutions to insure communities across California and Florida for wildfire and hurricane risks. The research i...
Posted: Dec 13, 2024
The risk to vessels, undersea cables, and offshore oil installations is growing primarily due to the availability of advanced weapons and the willingness of certain states, notably Russia and Iran, to disregard international maritime laws, accordi...
Posted: Dec 13, 2024
2025 is expected to see a renewed push for statutory reforms in states heavily impacted by hurricanes in the commercial property insurance space in hurricane-prone states, which were severely impacted by the 2024 Atlantic Hurricane season, accordi...
Posted: Dec 13, 2024
Ukraine identified 238 tankers it said belong to a shadow fleet of ships that Russia is using to keep its oil and fuels moving around the world — with a view to western authorities sanctioning the carriers. The Military Intelligence …
Posted: Dec 13, 2024
Antoine Bavandi, Global Head of Public Sector, Parametric & Climate Resilience Solutions at Gallagher Re highlighted the growing recognition of disaster risk financing and insurance in disaster response during his summary of key takeaways from...
Posted: Dec 13, 2024
MAPFRE RE, the reinsurance arm of Madrid-headquartered insurer MAPFRE, has announced it is sponsoring the issuance of a catastrophe bond of USD $125 million, issued through Recoletos Re DAC, an special purpose vehicle (SPV) incorporated in Ireland...
Posted: Dec 13, 2024
Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.” It also expects attractive underwriting profitability with a combined r...
Posted: Dec 13, 2024
Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.” It also expects good underwriting profitability with a combined ratio o...
Posted: Dec 13, 2024
Industry giant Munich Re has disclosed that due to consistently good operational performance in all business segments, the group is now aiming for an IFRS net profit of €6 billion in 2025. This morning, the reinsurance giant announced some targets...
Posted: Dec 13, 2024
Devonshire Underwriting, a managing general agent (MGA) specialising in underwriting transactional risk solutions, has announced the appointment of Kate Nolan as Associate – Tax, effective immediately. In her new role, Nolan will work alongside De...
Posted: Dec 13, 2024
Swiss Re has revealed its financial targets for 2025, including a Group net income of more than $4.4 billion, and a Property & Casualty Reinsurance combined ratio of less than 85%. According to the global reinsurer, all business units are aimi...
Posted: Dec 13, 2024
LIMRA, a global research and consulting organisation for the insurance and financial services industry, reports that the total US single-premium pension risk transfer (PRT) premium reached $14.2 billion in the third quarter. This represents a 36%...
Posted: Dec 13, 2024
What’s Not Changing in 2025: Homeowners Outlook, Re Retentions When analysts at AM...
Posted: Dec 13, 2024
Insurance Carrier Employees Are Bored; Most Boring Rankings Published An outfit that wants to convince your...
Posted: Dec 13, 2024
Posted: Dec 13, 2024
Eurazeo has entered into exclusive discussions with an investor consortium led by La financière de Blacailloux (Fiblac), a family holding company, regarding the sale of its 70% stake in Albingia, a French insurance company specialising in risk man...
Posted: Dec 13, 2024
COLUMBUS, Ohio (AP) — The Ohio Supreme Court ruled last Tuesday that the state’s product liability law prohibits counties from bringing public nuisance claims against national pharmaceutical chains as they did as part of national opioid litigat...
Posted: Dec 13, 2024
Orion180, a provider of insurance solutions, has recently announced the launch of its new Residential Private Flood Insurance product. Orion180’s Private Flood Insurance product provides customisable and extensive coverage options for homeowners a...
Posted: Dec 13, 2024
According to Paul Davenport, Finance & Risk Director at the Lloyd’s Market Association (LMA), the Lloyd’s Market has made notable progress towards its objectives of reducing the burden of compliance with financial reporting for participa...
Posted: Dec 13, 2024
Starbucks Corp.’s system for logging employee hours is back online nearly three weeks after a vendor hack had forced the company to keep track of schedules by hand. Starbucks worked with third-party software supplier Blue Yonder Group, which wa...
Posted: Dec 13, 2024
Mega claims in workers’ compensation represent far less than 1% of total workers’ comp claims yet account for more than 2% of total loss dollars, and total in excess of $1 billion each year, a new study from 10 state …
Posted: Dec 13, 2024
A U.S. appeals court on Wednesday ruled that Nasdaq could not impose rules designed to increase diversity in corporate America by requiring companies listed on the exchange to have women and minority directors on their boards or explain why they R...
Posted: Dec 13, 2024
President-elect Donald Trump’s antitrust picks are likely to take a hard-line on the tech giants, and a harder line on corporate consolidation than the average Republican. All three of the new administration’s selections – Gail Slater as...
Posted: Dec 13, 2024
W&T Offshore, an independent driller operating in the U.S. Gulf of Mexico, has asked a federal judge to block insurance companies’ demands for $250 million in additional collateral for taking apart old oil infrastructure. The offshore drill...
Posted: Dec 13, 2024
World Insurance Associates LLC acquired the business of Sprague Israel Giles Inc. in Seattle, Washington. Sprague Israel Giles was founded in 1958 by David Sprague and Mike Israel. Ten years later, Leon Giles joined the firm and eventually became a &...
Posted: Dec 13, 2024
The District of Columbia has sued Amazon, alleging the company secretly stopped providing its fastest delivery service to residents of two predominantly Black neighborhoods while still charging millions of dollars for a membership that promises the b...
Posted: Dec 13, 2024
A Massachusetts construction business owner was sentenced to 18 months in prison for an employment tax scheme and making a false statement at an Occupational Safety and Health Administration (OSHA) hearing about a worker’s death. According to c...
Posted: Dec 13, 2024
Credit rating agency AM Best has upgraded Korean Reinsurance Company’s (KRE) Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” (Excellent) from “a” (Excellent) and affirmed its Financial Strength Rating (FSR) of A (Excellent). Additionally, A...
Posted: Dec 13, 2024
Standing in his front yard in Wilmington, Jose Ulloa can’t get a sentence out without coughing. Heavy-duty trucks, headed to and from the Port of Los Angeles, pass in front of his home all day, their engines roaring and their …
Posted: Dec 13, 2024
Standing in his front yard in Wilmington, Jose Ulloa can’t get a sentence out without coughing. Heavy-duty trucks, headed to and from the Port of Los Angeles, pass in front of his home all day, their engines roaring and their …
Posted: Dec 13, 2024
The family of a woman who smoked cigarettes for decades and died at age 59 from lung cancer has won a $10.6 million verdict in a case against cigarette maker R.J. Reynolds Tobacco Co. A jury in Massachusetts Superior Court …
Posted: Dec 13, 2024
Effective Jan. 1, Workers Comp For Mental Health Available To NY Workers New York Governor Kathy H...
Posted: Dec 12, 2024
Effective Jan. 1, Workers Comp For Mental Health Available To NY Workers New York Governor Kathy H...
Posted: Dec 12, 2024
An admitted carrier tried to nonrenew a commercial umbrella policy after the state 60-day nonrenewal deadline had passed. When the agent mentioned this, the carrier said it would extend coverage to reach 60 days and then issue the nonrenewal.
Posted: Dec 12, 2024
The Guardian Life veteran will become TruStage’s CFO on Dec. 16, succeeding Laurie Winger, who is retiring at year’s end.
Posted: Dec 12, 2024