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A recent report from Bloomberg Intelligence (BI), the research division of Bloomberg, European general insurers’ debt-to-equity ratios indicate that they have the financial capacity to pursue acquisitions in 2025. These acquisitions are expe...
Posted: Dec 06, 2024
The black-and-white message flickering across computer screens sparked panic at Knights of Old, a 158-year-old UK delivery company: “If you’re reading this, it means the internal infrastructure of your company is fully or partially dead.&...
Posted: Dec 06, 2024
Donald Trump says he is selecting venture capitalist David Sacks of Craft Ventures LLC to serve as his artificial intelligence and crypto czar, a newly created position that underscores the president-elect’s intent to boost two rapidly developi...
Posted: Dec 06, 2024
ACORD Solutions Group, an extension of ACORD, the standards-setting body for the global insurance industry, has partnered with insurance technology provider Ping to create a Property statement of values (SOVs) extraction and global exposure techno...
Posted: Dec 06, 2024
Commercial and specialty lines insurer HDI Global has announced the appointment of Hannah Brooke as Head of Marine Cargo Underwriting for the UK and Ireland, effective from January 1, 2025. Reporting to Antonia Osborne, Director of Underwriting-Co...
Posted: Dec 06, 2024
Zurich-based catastrophe insurance data provider PERILS has revised its industry loss estimate for the third time, confirming the total cost of the floods in southern Germany, which occurred between May 31st and June 6th, 2024, at €1,582 million....
Posted: Dec 06, 2024
Insurtech company Sola has closed its seed round, bringing total funding to $3.7 million, furthering its mission of providing affordable, reliable natural disaster insurance to homeowners and businesses. Sola aims to tackle the challenges of a vol...
Posted: Dec 06, 2024
Global reinsurance firm Oak Re has announced the appointment of James Irvine as chief underwriting officer (CUO), property, a London-based role. The executive will be joining the company in spring 2025, and report directly to Cathal Carr, chief ex...
Posted: Dec 06, 2024
Aviva Plc reached a preliminary agreement to buy Direct Line Insurance Group Plc for £3.6 billion ($4.6 billion) in a deal that would create the UK’s largest motor insurer. London-listed Aviva sweetened its bid in the latest negotiations with D...
Posted: Dec 06, 2024
Concert Group Holdings (Concert), a privately owned insurance holding company, has promoted Scott Stosek to the newly-created positions of Director of Finance, Concert Group, and Chief Financial Officer (CFO) of Harmony Re, the firm’s risk retenti...
Posted: Dec 06, 2024
In response to the Philippines’ rapid economic growth and rising demand for innovative insurance solutions, particularly in infrastructure investments and natural disaster risk mitigation, KRM has announced it is bolstering its leadership te...
Posted: Dec 06, 2024
IT and financial leaders at the UK’s largest firms have a poor understanding of cyber risk as a financial risk, despite 74% of mid-to-large UK businesses experiencing cybercrime, according to a new survey by cyber risk solutions provider Resilienc...
Posted: Dec 06, 2024
Aviva and Direct Line have announced that they have reached a preliminary agreement on the financial terms of a potential acquisition of Direct Line’s entire share capital by Aviva. This newly agreed deal represents a total consideration val...
Posted: Dec 06, 2024
LK Re, a specialist in reinsurance brokerage and Singapore subsidiary of LK Insurance Brokerage, has been selected as a registered broker by Lloyd’s in the UK. This move marks the first time that an overseas subsidiary established by a Korean insu...
Posted: Dec 06, 2024
Posted: Dec 06, 2024
Ventis, a Managing General Agent (MGA) specialising in Commercial and Residential insurance, has announced the appointment of Fiona Young as Senior Underwriter. In her new role, Young will manage a panel of partner brokers, leveraging her technica...
Posted: Dec 06, 2024
Global credit ratings agency AM Best has maintained its stable outlook for the US life/annuity insurance segment, citing strong capitalisation across the industry, as well as robust top-line growth in core lines of business and consistent profitab...
Posted: Dec 06, 2024
Insurance Business Magazine - US
Posted: Dec 06, 2024
Ryan Specialty, an international specialty insurance firm, has announced two key leadership appointments for its international financial lines managing general underwriter, Ryan Financial Lines (RFL), effective January 1, 2025. Richard Winborn has...
Posted: Dec 06, 2024
A large number of Americans’ metadata has been stolen in the sweeping cyberespionage campaign carried out by a Chinese hacking group dubbed “Salt Typhoon,” a senior U.S. official told journalists on Wednesday. The official declined...
Posted: Dec 06, 2024
Historically, insurance has had a reputation as an industry slow to embrace change. However, it’s safe to say that technology and customer expectations are leaving insurers with no choice but to adapt. Individuals and businesses are changing ho...
Posted: Dec 06, 2024
A federal judge rejected Boeing Co.’s plea deal that sought to let the planemaker avoid criminal prosecution over to two fatal 737 Max crashes, in a surprise twist that threatens to prolong the company’s recovery from past scandals. US Di...
Posted: Dec 06, 2024
Regulators, insurance companies and attorneys at the Florida Chamber of Commerce Annual Insurance Summit this week sent a clear message to lawmakers about tinkering with Florida’s property insurance law, two years after major legislative reform...
Posted: Dec 06, 2024
Massachusetts Attorney General Andrea Joy Campbell has issued citations against Northeast Foods LLC, a company which operates Burger King franchise locations across Massachusetts, for allegedly violating various state employment laws, including child...
Posted: Dec 06, 2024
Vitesse, a global treasury and payment provider for the insurance industry, has officially launched its United States operations with the establishment of New York-based Vitesse Trust Company, LLC. The New York State Department of Financial Servic...
Posted: Dec 06, 2024
A California farm expanded a recall of raw milk sold in stores and halted production after state health and agriculture officials found bird flu virus in more milk samples. Raw Farm, of Fresno, voluntarily recalled all whole milk and cream …
Posted: Dec 06, 2024
The U.S. Department of Labor reports it has obtained a consent judgment recovering more than $2.4 million in back wages and liquidated damages from Massachusetts and Pennsylvania healthcare staffing agencies that denied 341 employees overtime wages,...
Posted: Dec 06, 2024
A former state employee in Maryland has pleaded guilty in separate cases involving insurance fraud and felony theft. According to Maryland Attorney General Anthony G. Brown, the charges against Shanell Angelia West, of Essex, Maryland, stemmed from h...
Posted: Dec 05, 2024
Ivans Index Shows Most Commercial Lines Renewal Rates Up in November Most major c...
Posted: Dec 05, 2024
AFR chose ZestyAI for advanced aerial imagery, property insights, and peril-specific risk modeling solutions.
Posted: Dec 05, 2024
Ohio National Seguros de Vida – Chile triples pensions portfolio and assets under management to $3.3 billion rising to seventh largest annuity provider in the Chilean insurance market.
Posted: Dec 05, 2024
Founded by Californian aerospace engineers the homeowners’ InsurTech MGA writes $40 billion in TIV profitably with above 90 percent renewal rates in the challenging California market, using satellite imagery, AI and sophisticated risk modeling.
Posted: Dec 05, 2024
Summit, a regional provider of workers’ compensation insurance services, announced the expansion of its coverage into Illinois. Summit-managed carriers, Bridgefield Casualty Insurance Company®, Bridgefield Employers Insurance Company® and Bridg...
Posted: Dec 05, 2024
Posted: Dec 05, 2024
ePayPolicy, a leading provider of digital payment solutions for the insurance industry, is excited to announce its membership in the National Association of Mutual Insurance Companies (NAMIC).
Posted: Dec 05, 2024
Language Barriers Create Claims Challenges ITL Editorial Team
Posted: Dec 05, 2024
Event Safety Tips for Insurance Agents and Clients Agent & Broker
Posted: Dec 05, 2024
A magnitude-7.0 earthquake off the coast of Northern California triggered a brief tsunami warning across a swath of the U.S. West Coast. The tsunami threat was declared over less than an hour later even as the area experienced multiple aftershocks. &...
Posted: Dec 05, 2024
The latest people news in the industry today. The post Robert O’Connell Appointed as Global Cyber Strategy and Growth...
Posted: Dec 05, 2024
The latest people news in the industry today. The post Mark Benz Appointed as EVP, Head of Alternative Risk Solutions at Ascot
Posted: Dec 05, 2024
The latest people news in the industry today. The post Larry Chim Appointed as SVP of Employee Benefits Group at Al...
Posted: Dec 05, 2024
The latest people news in the industry today. The post Marc Orloff Named President of Global Risk Solutio...
Posted: Dec 05, 2024
Posted: Dec 05, 2024
Posted: Dec 05, 2024