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With Storm Bert affecting counties across England and Wales, parametric flood insurance provider FloodFlash has revealed that it made a payout to a client in just over 10 hours after a trigger was activated. According to Ian Bartholomew, Chief Und...
Posted: Dec 02, 2024
Shoplifting Ring Allegedly Stole $2M in Cosmetics, Clothes to Sell Abroad A shoplifting ring that stole...
Posted: Dec 02, 2024
AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to its persistently strong underwriting performance and improved investment returns, which have bolstered operating profitabil...
Posted: Dec 02, 2024
AM Best is maintaining its stable market segment outlook on the U.S. commercial lines insurance sector for 2025, due partly to the segment’s persistently strong underwriting performance and improved investment returns, which have bolstered oper...
Posted: Dec 02, 2024
Rebecca McCabe, with Aon since 2015, has been named Carolinas market leader, based in Charlotte. McCabe has recently served as interim market leader and sales director at Aon, and now replaces Kathleen Lynch, who left Aon earlier this year, according...
Posted: Dec 02, 2024
Jurors in New Mexico have awarded a man more than $412 million in a medical malpractice case that involved a men’s health clinic that operates in several states. The man’s attorneys celebrated last week’s verdict, saying they are ho...
Posted: Dec 02, 2024
McGill and Partners, the independent global specialty insurance and reinsurance broker, has appointed Andre du Preez as Head of Emerging Technology, who joins the firm from Miller. Based in London, Preez joins the re/insurance broker with notable...
Posted: Dec 02, 2024
US-based independent reinsurance broker, the Holborn Corporation has announced the appointment of Frederic Gindraux as Senior Vice President, Claims Advisory. Based in New York, Gindraux will collaborate with Holborn’s clients, client-facing teams...
Posted: Dec 02, 2024
The governors of New York and Pennsylvania have declared disaster emergencies in areas hit with as much as three and four feet of “lake-effect” snow from a fierce winter storm. New York Governor Hochul declared a state of emergency for &#...
Posted: Dec 02, 2024
Analysts at Moody’s Ratings have suggested that the potential acquisition of Direct Line by Aviva could bring credit positive benefits to both firms. Late last month, Direct Line rejected Aviva’s £3.28 billion 100% acquisition proposal, stat...
Posted: Dec 02, 2024
Are your team members propelling the agency forward or pushing it back? [P]ositive momentum puts you in a better position to succeed. Getting there may not be easy, but the opportunities it brings promise to make it well worth the effort. By Brent Ke...
Posted: Dec 02, 2024
Are your team members propelling the agency forward or pushing it back? [P]ositive momentum puts you in a better position to succeed. Getting there may not be easy, but the opportunities it brings promise to make it well worth the effort. By Brent Ke...
Posted: Dec 02, 2024
Passion, plus innovative thinking It is important to resist the siren call of “assistants” and “ outsourcing” currently tempting you to give up on your best secret weapon for success—great people of your very own … . By Cheryl Koch, CPCU, ARM, AAI, A...
Posted: Dec 02, 2024
The year-end move to own 2025 People don’t just buy insurance; they buy connection. And your story is what bridges that gap. By Carolyn Smith, APR, TRA Stop what you’re doing for a second and think about this: What’s your story? No, I don’t mean your...
Posted: Dec 02, 2024
From proactive communication to streamlined claims processing By planning ahead and considering both client and operational needs, you can ensure that your agency is ready to face any natural disaster and continue providing the essential services tha...
Posted: Dec 02, 2024
In today’s M&A marketplace, owners often are motivated by factors beyond price [E]nsuring alignment between a seller’s fundamental motivations and a potential buyer’s capabilities is a key to maximizing value … . By James Graham, CVA The rapid pa...
Posted: Dec 02, 2024
Can this employee be saved? Managers tend to think they know what the problem is. Speculation is dangerous. The real reasons for underperformance often need to be uncovered. By Kimberly Paterson, CEC Every organization has one. It’s the under-perform...
Posted: Dec 02, 2024
Ship builder and insurer disagree about policy exclusion While protection is incredibly valuable, it’s worthless if an operation fails to have standards and controls that provide the best chance to achieve positive results. By Bruce D. Hicks, CPCU, C...
Posted: Dec 02, 2024
Delivering better workers comp claims analysis by adding data-driven benchmarking and risk mitigation The entire goal of Mod Advisor, an internet-based application, is to simplify and streamline the analysis process. By Lori Widmer The standard for...
Posted: Dec 02, 2024
A look at endorsements to help create a well-rounded personal lines program Don’t make replacement cost on contents be the exception—make it the rule. By Marc McNulty, CIC, CRM Our last two editions of “Mind the Gap” have focused almost exclusively o...
Posted: Dec 02, 2024
INSURANCE-RELATED COURT CASES Digested from case reports published online COURT DECISIONS Arson doesn’t pay A fire damaged a malt beverage store owned by A Maxon Company, LLC (AMC). Acuity Insurance Com-pany sought a declaratory judgment to determine...
Posted: Dec 02, 2024
Florida’s property insurer of last resort, Citizens Property Insurance Corporation, has projected that it will need to purchase $4.453 billion of reinsurance from the traditional and capital markets for 2025, although the overall size of the firm&...
Posted: Dec 02, 2024
Viewpoint: As Insurance Losses Outpace Premiums, State Regulators Play a Critical Role Along with the rising...
Posted: Dec 02, 2024
After Tens of Billions in Insured Losses, Record-Breaking Hurricane Season Ends Th...
Posted: Dec 02, 2024
Making it easier to bring new team members up to speed on technical and soft skills Rather than one employee shouldering the workload for an entire onboarding, we can use subject matter experts to train on individual workflows or processes in their...
Posted: Dec 02, 2024
A bank’s role throughout the independent agency life cycle By Patricia Smith and Keith Mangini Independent insurance agencies have unique financial needs that evolve as they mature and grow. From agencies in their early stages to seasoned agencies th...
Posted: Dec 02, 2024
Why agents should spend time on site with clients By Larry Chasin Insurance is a business rooted in relationships, and cultivating and maintaining relationships is just as important today in insurance as it ever was. What’s changed is how we maintain...
Posted: Dec 02, 2024
“I hope one day my kids will be able to listen to my recorded podcasts and learn more about their dad’s career. Each podcast episode is like a time capsule.” —Josh Gurley HM Advisors Partner of Georgia agency builds solid foundation in work and home...
Posted: Dec 02, 2024
Suspicious behavior on T-Mobile US Inc.’s network devices tipped off the company to a breach that was potentially part of a sprawling cyber-espionage campaign that has raised urgent questions about the exposure of a critical sector of the econo...
Posted: Dec 02, 2024
The importance of balancing human touch and artificial intelligence in insurance By David Derigiotis Artificial intelligence (AI) has completely transformed how we do business—now it’s time for AI to shine its light on insurance. From underwriting an...
Posted: Dec 02, 2024
The Connecticut city of West Haven said it is being reimbursed more than $1 million from its insurer to cover the cost of federal pandemic relief funds stolen three years ago by two city employees. Then-state Rep. Michael DiMassa and …
Posted: Dec 02, 2024
Five things to consider when developing a personal brand By Bill Brooker As a young insurance agent, you may feel like you’re standing in the shadows of seasoned professionals, trying to find a way to stand out and build your career. The next time y...
Posted: Dec 02, 2024
Allianz has acquired the general insurance business of the Royal Automobile Association of South Australia Incorporated (RAA), expanding its consumer insurance presence in South Australia. The insurer’s partnership with the RAA, worth AUD$6422 mil...
Posted: Dec 02, 2024
Digital platforms and streamlined enrollment and education continue to move the employee benefits market forward By Lori Widmer It’s no secret that the last four years have marked seismic changes in how and from where businesses operate. As employers...
Posted: Dec 02, 2024
PIB Group, the specialist insurance intermediary, has acquired a Netherlands domiciled commercial lines insurance broker and managing general agent (MGA) platform, Thoma Exploitatie BV and its subsidiaries. The acquisition, which remains subject t...
Posted: Dec 02, 2024
Aon, the global insurance and reinsurance broker, has announced the successful renewal and expansion of the Aon Client Treaty (ACT), the firm’s flagship London Market placement facility that helps clients respond to complexity with new sourc...
Posted: Dec 02, 2024
The province of British Columbia can bring a class action lawsuit against pharmaceutical companies for opioid harms on behalf of multiple governments across Canada, the country’s Supreme Court ruled on Friday. In 2018, BC sued more than 40 drug...
Posted: Dec 02, 2024
Africa Specialty Risks (ASR), an African and Middle Eastern re/insurance group, has confirmed that ASR Middle East has commenced operating as a Lloyd’s service company, which allows it to underwrite in Dubai on behalf of ASR Syndicate 2454,...
Posted: Dec 02, 2024
Insurance Business Magazine - US
Posted: Dec 02, 2024
Insurance Business Magazine - US
Posted: Dec 02, 2024
European savings and retirement services group Athora, has appointed Rakesh Thakrar as interim Group Chief Financial Officer (CFO), effective immediately, succeeding Anders Malmström who will leave the organisation in early 2025 to assume an execu...
Posted: Dec 02, 2024
International Speciality re/insurance MGA Rokstone, which is part of the Aventum Group, has acquired a second box at Lloyd’s, just six months after the announcement of its first. Rokstone has secured box 398a, alongside its existing box 398, on Ga...
Posted: Dec 02, 2024
SIGNAL IDUNA Reinsurance Ltd (SI Re), a Swiss reinsurer headquartered in Zug, has announced that Dr Robert Salzmann has been appointed to the Executive Board and designated as Chief Underwriting Officer, effective 1 January 2025. This move ensures...
Posted: Dec 02, 2024
This post is part of a series sponsored by Old Republic Surety. Dan Pope, Senior Vice President of Underwriting at Old Republic Surety, learned a lesson as a young surety rep about the most important numbers at a client’s business. …
Posted: Dec 02, 2024
The Rt Hon Shabana Mahmood MP, Lord Chancellor, has announced today that the Personal Injury Discount (Ogden) Rate will increase to 0.5%, effective from 11 January 2025. For those unaware, the Ogden rate is a figure which courts must consider when...
Posted: Dec 02, 2024
Arthur J. Gallagher & Co. announced that its claims and risk management solutions subsidiary, Gallagher Bassett, has acquired the UK-based operations of Caytons Law LLP. Terms of the transaction were not disclosed. Caytons is a claims and legal m...
Posted: Dec 02, 2024
China’s ByteDance is suing a former intern for $1.1 million, alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI ra...
Posted: Dec 02, 2024